TOKYO, Oct. 31 (Xinhua) — Japan spent a report 6.3499 trillion yen (about 42.8 billion U.S. {dollars}) on a number of interventions within the foreign money market this month, Finance Ministry information confirmed Monday, because the nation takes steps to prop up its foreign money.
After the yen neared 152 to the dollar, sources have confirmed Japan intervened on Oct. 21, though market observers right here believed such operations can have a restricted impression.
The earlier excessive was 2.84 trillion yen set in September, thought to have been primarily spent on Sept. 22 when Japan stepped into the market by shopping for the yen with U.S. {dollars} for the primary time since 1998, Kyodo News reported.
Japan’s overseas foreign money reserves dropped by 54 billion U.S. {dollars} to 1.238 trillion U.S. {dollars} on the finish of September, marking a report month-to-month decline.