Business
UNDERREPORTED
Japan deploys record 15.4 trillion yen to halt currency decline
Japan's finance ministry disclosed that it spent a historic 15.4 trillion yen on yen-buying operations in the past month to counter the currency's slide.
The finance ministry said the massive purchase program covered the period from July 30 to early August, surpassing the previous monthly high of 11.73 trillion yen recorded in April-May. The effort included a coordinated operation with the United States aimed at preventing the yen from falling to a 40-year low. Officials highlighted the unprecedented scale of the intervention as a response to recent market weakness.
Why it matters
The intervention shows how Japan is using massive fiscal resources to stabilize its currency and protect the economy.
In this story
yen buyingcurrency intervention15.4 trillion yen40-year lowjoint operationFinance MinistryJuly-Augustrecord spending
