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Japan spent $37 billion to support yen over past month

World News

2024-07-31 | 05:15

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Japan spent $37 billion to support yen over past month

Japan's finance ministry said Wednesday it spent 5.5 trillion yen ($36.6 billion at today's rates) to boost the yen's value by intervening in forex markets between June 27 and July 29.

A surge in the currency's value in mid-June, shortly after US inflation data came in lower than anticipated, had triggered speculation among analysts of an intervention by Japanese authorities.

AFP

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