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Japan's April yen-buying intervention sets fresh daily record

Created at 7 Aug · 12:06 AM1 source↑ Market-relevant
IN SHORT

Japanese authorities conducted a record single-day yen-buying intervention in April, selling $40 billion worth of dollars to stem the yen's slide. The largest operation on April 30 spent 6.28 trillion yen, surpassing previous records.

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Key Numbers

$40 billiondollar amount sold in record intervention
6.28 trillion yenyen spent in largest single-day intervention
160.725yen per dollar at near two-year low
155yen per dollar after intervention
163yen per dollar at 40-year low
1991year MOF data dates back to

Who's Involved

Ministry of Finance (MOF)
released quarterly data on yen-buying intervention
Japanese authorities
conducted record yen-buying intervention
Japan's April yen-buying intervention sets fresh daily record

↳ Why This Matters

The record intervention highlights the significant pressure on the Japanese yen and the authorities' determination to prevent further depreciation, which could impact inflation and trade.

Key facts

  • Japan's Ministry of Finance revealed record single-day yen-buying intervention in April.
  • On April 30, authorities sold approximately $39.64 billion (6.28 trillion yen) to support the currency.
  • This intervention surpassed the previous record set on April 29, 2024.
  • The intervention temporarily strengthened the yen from a low of 160.725 to around 155 per dollar.
  • The yen later resumed its decline, reaching new 40-year lows in July.

    • Japanese authorities conducted a record single-day intervention in foreign exchange markets in April, selling approximately $40 billion worth of dollars to stem the yen's slide. Quarterly data from the Ministry of Finance revealed that the largest operation on April 30 involved 6.28 trillion yen, surpassing the previous single-day record set on April 29, 2024.

    The intervention, part of three days of operations between April 30 and May 6, helped lift the yen from a near two-year low of 160.725 per dollar to around 155 by May 6. However, the currency's broader downtrend was not reversed, and the yen resumed its slide, reaching 40-year lows below 163 per dollar in July. This prompted further intervention last week, this time in coordination with Washington.

    Frequently asked questions

    The record amount spent in a single day was 6.28 trillion yen, equivalent to approximately $39.64 billion, on April 30.

    The previous single-day record was 5.92 trillion yen, spent on April 29, 2024.

    The intervention temporarily strengthened the yen from a low of 160.725 per dollar to around 155 per dollar by May 6, but the currency later resumed its downtrend.

    What Happens Next

    01Further intervention may occur if the yen continues to weaken.
    02Market participants will monitor future data releases for additional intervention details.

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    How It Developed

    Japanese authorities conducted a record single-day yen-buying intervention in April.
    The largest operation on April 30 spent 6.28 trillion yen ($39.64 billion).
    This surpassed the previous single-day record of 5.92 trillion yen from April 29, 2024.
    The intervention helped lift the yen from a near two-year low of 160.725 per dollar to around 155 by May 6.
    The yen resumed its downturn, sliding to 40-year lows below 163 per dollar in July.
    Tokyo intervened again last week in coordination with Washington.

    Sources

    T1
    Japan's April yen-buying intervention sets fresh daily recordReuters

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