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No stealth intervention made by Japan in September: MOF

No stealth intervention made by Japan in September: MOF

No stealth intervention made by Japan in September: MOF

Japanese Yen an US Dollar

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  • The country did not execute a stealth intervention in September.
  • Authorities kept silent over whether they intervened after September 22.
  • Japan spent a record 6.35 trillion yen on currency intervention last month.
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Japan did not execute a stealth intervention in September and only entered the market to purchase yen for dollars on September 22, which it announced on the same day, according to statistics released by the government on Tuesday.

For the first time in more than two decades, the government disclosed in September that it had spent 2.8 trillion yen ($19.3 billion) that month to maintain the currency. Authorities kept silent over whether they intervened after September 22.

Consequently, Japan spent a record 6.35 trillion yen on currency intervention last month, and investors are eager for hints as to how much more the government might intervene to halt the yen’s precipitous decline.

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