Japan remains ready for "decisive" action against yen depreciation


FILE PHOTO: A passerby walks past an electronic screen displaying the current Japanese Yen exchange rate against the US dollar, Euro and other foreign currencies in Tokyo, Japan May 12, 2026. - Reuters

TOKYO: Japan stands ready to take "decisive" action to stem the yen's depreciation, an official said Tuesday (June 9), as the currency traded in the lower 160 range against the US dollar, near a level that previously prompted Japanese authorities to step into the currency market.

"Given the circumstances, there is no change in the fact that we are increasingly in a position to take decisive action," Finance Minister Satsuki Katayama said.

Japan's government and central bank spent a record 11.73 trillion yen (around US$73.2 billion) on currency market intervention between April 28 and May 27 this year to support the country's currency amid its steep fall against the US dollar.

Before the operations, the yen had weakened to around 160.72 against the dollar, its lowest level since July 2024.

The interventions helped the yen strengthen to the 155 zone against the dollar at times, but their effectiveness appeared short-lived, as the currency has recently resumed its weakening trend. - Xinhua

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Japan , yen depreciation

Next In Aseanplus News

Indonesia's Constitutional Court dismisses challenge to Vice President over education credentials
Teen under police probe after allegedly throwing bag off LRT station platform in Singapore
BOJ's dovish dissenter signals support for future rate hikes
Thai police inspect care centre after patient claims assault, confinement
Marcos makes fifth Singapore visit with investments, nuclear energy on agenda
Ringgit opens marginally lower against US$ amid mixed global cues
AI boom leaves Thai graduates facing a tougher job hunt
HK actor Ray Lui, 69, impresses netizens with youthful visuals
Private jet drugs seizure in Laos: 521kg of meth not from Malaysia, says Bukit Aman
Jempol MP probe papers sent back to cops, says Home Ministry

Others Also Read