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MNI BRIEF: BOJ, Govt Bought JPY6.35 Trln in Oct Intervention

(MNI) Tokyo

The Japanese government and the Bank of Japan bought JPY6.35 trillion of yen against the U.S. dollar to prop up the currency from September 29 to October 27, Ministry of Finance data released on Monday showed.

Market participants suspected the government and the BOJ conducted yen-buying interventions in mid-October but Masato Kanda, the vice finance minister for international affairs, remained silent. The yen traded at a 32-year low of JPY152 against the U.S. dollar earlier this month. (See MNI: BOJ: Rapid, One-Sided FX Moves Undesirable - Kuroda)

Previous data showed a one-day record high of JPY2.8382 trillion was bought on Sept. 22. The government and the BOJ intervened on that day to buy the yen and sell U.S. dollars for the first time in about 24 years after the currency weakened as the BOJ maintained its easy policy.

The MOF will release daily figures for the last three months of this year in early February. The yen last traded around JPY148.45.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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