May 31, 2024 10:08 GMT
MNI BRIEF: Japan Conducts JPY9.8 Trln Intervention - MOF Data
(MNI) Tokyo
(MNI) TOKYO
Yen-buying intervention the first since October 2022.
Japanese authorities conducted yen-buying interventions worth JPY9.7885 trillion from April 26 through May 29, data released by the Ministry of Finance showed on Friday.
The MOF didn’t identify the days when the authorities conducted the forex interventions. (See MNI POLICY: BOJ To Consider Soft Yen Price Impact, Hikes Delayed)
But the BOJ’s current account balances and market operations data indicated that the BOJ bought about JPY5 trillion against the U.S. dollar on April 29 when the dollar traded at around JPY160 and about JPY3 trillion on May 1.
The yen-buying intervention was the first since October 2022.
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