Japan spent a likely record daily amount to prop up the yen last week, leaving economists and investors wondering whether the government could interve

Japan spent ¥2.84 trillion in September intervention to prop up yen

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2022-10-01 04:30:17

Japan spent a likely record daily amount to prop up the yen last week, leaving economists and investors wondering whether the government could intervene again despite skepticism over the impact of such action.

The Finance Ministry disclosed Friday that it spent ¥2.84 trillion ($19.7 billion) in September to slow the yen’s slide in its first intervention to support the currency since 1998. Private analysts had estimated the intervention at up to ¥3.6 trillion.

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