TOKYO (MNI) – The Finance Ministry said on Tuesday that Japan spent
a total of Y9.092 trillion on foreign exchange market interventions to
buy dollars for yen on five days in the final quarter of 2011.
The MOF spent a massive Y8.072 trillion on Oct. 31, when the yen
hit a record high of Y75.32 against the dollar, followed by more action
on the ensuing four days on a smaller scale — Y282.6 billion on Nov. 1;
Y227.9 billion on Nov. 2; Y202.8 billion on Nov. 3; and Y306.2 billion
on Nov. 4.
MOF data have shown that Japan didn’t intervene in the forex market
in December or January.
Last year Tokyo also conducted currency market intervention in
August and March, with the latter operation as part of a coordinated
move by the Group of Seven industrialized nations to aid Japan in the
wake of the March 11 earthquake disaster.
tokyo@marketnews.com
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[TOPICS: M$J$$$,M$A$$$,MAJDS$,M$$FX$]
