Japan’s Finance Ministry released official data on Monday showing it purchased a record 7.98 trillion yen (about US$50 billion) on July 30 to prop up the currency, marking the largest single‑day intervention on record, Xinhua reported. The July 30 buy was part of a multi‑day yen‑buying series that also included operations on July 31 and August 3, bringing the total to 15.4 trillion yen, the ministry said.
On July 31, Japan and the United States coordinated a joint intervention, the first such move in 28 years, with Japan spending the equivalent of 5.55 trillion yen. The coordinated operation was aimed at supporting the yen after it slid to the upper 163 range per dollar in late July, its weakest level in roughly 40 years, according to the ministry’s data.
The interventions helped the yen rebound, hitting the lower 155 range on August 3 and briefly firming to the 152 range on September 8. However, the currency later gave up those gains and has been trading around the 158 range against the dollar, the ministry notes.
Support for the yen’s rise also came from other measures, but the persistent interest‑rate differential between Japan and the United States remains a key headwind. The record intervention highlights Japan’s ongoing efforts to curb prolonged yen depreciation and underscores the coordination with the United States in recent months.
Reuters also reported that the Japan Ministry of Finance’s data confirmed the record buy, given that the July 30 operation totaled 7.98 trillion yen. The total intervention for the July‑September quarter matches a similar figure reported by The Wall Street Journal, which stated Japan spent a record $50 billion in a single day and a cumulative 15.399 trillion yen for the quarter.
