Newsfrom Japan Economy Nov 8, 2022 10:50 (JST)
Newsfrom Japan
Economy
Tokyo, Nov. 8 (Jiji Press)–Japan spent 2,838.2 billion yen on foreign exchange market interventions between July and September, a Finance Ministry report showed Tuesday.
During the period, the Japanese government and the Bank of Japan intervened in the market to curb a rapid weakening of the yen only on Sept. 22.
The ministry also reported that the country’s foreign currency reserves at the end of October shrank by 43,488 million dollars from a month before to 1,194,568 million dollars.
The month-on-month decrease, caused by Japan’s massive yen-buying interventions, was the second steepest on record and the third in a row.
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