On 29 April 2020, Japan spent a record 5.92 trillion yen to slow the yen's fall against the US dollar.

Japan spent a record 5.92 trillion yen (41B USD) on 29 April 2020 to slow the yen's fall against the US dollar, followed by another 3.87 trillion yen two days later. The total dollar-selling intervention amounted to 9.79 trillion yen, pushing the yen up by 5%, but failing to stop its decline. The US dollar hit a 34-year high above 160 yen in April before dropping to 154 yen and later to a 37-year low of 162 yen by early July.

August 11, 2024
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