Japan confirms first currency intervention since 2022 with $62 billion in spending

Japan confirms first currency intervention since 2022 with  billion in spending

New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan’s Institute for Monetary and Economic Studies. The new banknotes will start circulate from July 3, 2024. 

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Data from Japan’s Ministry of Finance on Friday confirmed the country’s first currency intervention since 2022, after the yen plunged to a 34-year-low in April.

The ministry on Friday stated Japan spent 9.7885 trillion yen ($62.25 billion) on currency intervention between April 26 and May 29, according to a Google-translated statement.

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