Japan’s Finance Ministry disclosed on 9 November that it spent about 15.4 trillion yen buying its own currency over three days, from 30 July to 3 August, roughly $97 billion in total.
The largest single day was 30 July, when the ministry bought 7.98 trillion yen, a record for one-day yen-buying intervention. The previous record was 6.28 trillion yen, set on 30 April.
Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent had earlier confirmed a coordinated effort aimed at countering disorderly moves in the currency. Tokyo has said it will not hesitate to act again.
Even after the purchases, the yen traded around 158 to the dollar, as the interest-rate gap between the United States and Japan remained wide. For background on Japan’s trade ties with Washington, see our report on the US trade deal.
Sources: Ministry of Finance, foreign exchange intervention operations, July to September 2026 (9 November 2026); Bernama, citing Kyodo (9 November 2026); Dow Jones via Morningstar (8 November 2026).
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Japan Spent a Record ¥15.4 Trillion Defending the Yen in Summer Intervention