Archive · 31 Jul 2026
Yen Surges as Japan Intervenes in FX Market
The Japanese yen, the money used in Japan, fell a lot against the US dollar.
To stop it from falling more, Japan’s government and its central bank bought a huge amount of yen in the market.
This made the yen stronger, and it rose about 3.3% in one day.
Experts think this might lead the Bank of Japan to raise interest rates soon.
The move shows how much Japan cares about keeping its currency stable.
Yen rose 3.3% against the dollar, the biggest intraday gain since December 2023.
Nikkei reports Japan’s Finance Ministry and Bank of Japan stepped into the market to support the yen.
The intervention followed a record ¥11.73 trillion purchase of the currency in the open market last quarter.
Analysts say the move may prompt the Bank of Japan to raise rates at its upcoming policy meeting.
The yen’s surge comes amid a widening interest‑rate gap between Japan and the United States.
- Who
- Japanese Finance Ministry and Bank of Japan officials
- What
- Intervened in the foreign‑exchange market to support the yen
- When
- Thursday, 2024
- Where
- Tokyo and New York trading session
- Why
- To counter the yen’s depreciation amid rising oil prices, budget deficits, and a widening interest‑rate gap with the United States
- Currency
- Japanese yen
- Exchange rate
- 159.53 per US dollar
- Intervention amount
- ¥11.73 trillion
- Date
- Thursday, 2024
- Central bank
- Bank of Japan
- Market
- Foreign exchange market