Japan confirms record interventions to support yen

Japan spent a record 5.62 trillion yen (US$42.5bil or RM180.9bil) on a single day of yen-buying intervention on Oct 21, and another 730 billion yen (RM23.5bil) on Oct 24, after spending 2.84 trillion yen (RM91.4bil) on Sept 22 to stem the yen’s sharp fall. — Reuters

TOKYO: Japan confirms that it made record interventions in the foreign exchange market in October, selling the US dollar worth 6.35 trillion yen (US$48bil or RM204bil) to support its currency, Finance Ministry data shows.

The quarterly data showed a steep drop in the yen to a 32-year low of 151.94 (RM4.88) to the dollar on Oct 21 triggered the intervention that day, followed by another on Oct 24.