Key facts
- Japan spent a record 15.39 trillion yen ($96.5 billion) on currency intervention between July 30 and Aug. 26.
- This was the largest amount spent in a single intervention round.
- Japan and the United States conducted a rare joint yen-buying intervention on August 3, 2026.
- This joint action was the first such intervention between the two countries since 2011.
- The total currency support measures this year have reached a record $170 billion.
Japanese authorities spent a record 15.4 trillion yen ($96.5 billion) intervening in foreign exchange markets between July 30 and August 26 to support the local currency, Finance Ministry data showed. The size of the intervention underscores Tokyo's resolve to pull the yen away from four-decade lows, as currency weakness threatens exporter profits and increases import costs. The Bank of Japan held rates steady in July but has signaled a willingness to tighten policy, with markets assigning a 65% chance of a hike in September. The data provides a total for the period, with detailed daily figures to be released quarterly. The BOJ entered the market on July 30 and 31, including rare joint action with the U.S., as the yen neared its weakest level in 40 years against the dollar. The yen strengthened from around 163 per dollar to as high as 155.20 by August 3, before stabilizing around 159.50. Washington has stated Tokyo could use a Federal Reserve backstop for dollar liquidity, and U.S. Treasury Secretary Scott Bessent affirmed support for Tokyo's efforts to stabilize the yen.