In October final yr, the Ministry of Finance carried out two “masked interventions” through which the federal government and the Bank of Japan didn’t disclose the actual fact of market intervention with a purpose to put a brake on the fast depreciation of the yen for the primary time in 32 years. It revealed that it has invested the most important sum of money up to now as an intervention to promote the dollar and purchase the yen at 5.6202 trillion yen.
Regarding the market intervention in October final yr, Finance Minister Suzuki stated at a press convention after the cupboard assembly on the seventh, “The intervention in October last year was done to respond appropriately to excessive fluctuations in the yen exchange rate due to speculation. The government will continue to closely monitor trends in the foreign exchange market.”
On prime of that, relating to the funding of the most important sum of money up to now as an intervention to promote the dollar and purchase the yen, he stated, “The scale was decided based on the state of affairs, together with skilled evaluation. I am unable to say for positive that it’ll by no means occur, however I wish to chorus from saying it as a result of it’s like exposing the within of my hand.”
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