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MNI (Sydney)
TOKYO (MNI)

The Bank of Japan said on Wednesday that it would purchase around USD6 billion in cash from the Ministry of Finance (Foreign Exchange Fund Special Account) as part of its policy response to the Covid-19 economic disruptions.

The decision is in preparation for the smooth execution of the BOJ's operations, such as international financial cooperation and foreign currency supply to financial institutions.

The settlement data has not yet been set and the BOJ said that purchase date (settlement date) is for any business day by the end of March 2021.

This operation isn't directly linked to BOJ's dollar-providing operations.

It is the first time that the BOJ will buy US dollar from the MOF via an outline operation, although the bank had bought US dollar via repurchase agreements.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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