Japan spent a record $96.5 billion to support the yen over the past month, according to ministry data. This was reported by Qazaqyia.kz citing Reuters.
According to the Ministry of Finance, this is the largest intervention in the country's history. The move was aimed at halting the yen's decline.
The intervention was carried out over the past month, but exact dates and times have not been disclosed. The ministry only confirmed the total amount.
This record spending reflects Japan's active measures in the currency market. Experts note that the effectiveness of this step remains questionable, as the yen's value depends on global market factors.
Japanese authorities have previously intervened in the currency market to support the yen. However, this time the amount spent exceeded all previous figures.
According to Reuters, this information is based on official data from the Ministry of Finance. Additional details about the exact dates and methods of the intervention have not yet been published.
Japan's move has caused a significant reaction in the global financial market. Some experts doubt the long-term effectiveness of these measures, while others consider them necessary.
Currently, the yen's exchange rate may stabilize, but the market situation remains complex. The Japanese government has stated that it is closely monitoring changes in the currency market and is ready to take additional measures if necessary.