The Ministry of Finance has announced the results of its daily market interventions from July to September this year.
The market intervention by the government and the Bank of Japan during this period was only one day on September 22, and it was found that the funds used amounted to more than 2.83 trillion yen.
According to it, the only market intervention that took place during this period was the first dollar-selling/yen-buying intervention on September 22nd in 24 years, and the amount of funds used was 2.8382 trillion yen. It will be the largest market intervention ever published to sell the dollar and buy the yen.
Immediately after the market intervention on this day, the yen exchange rate fluctuated by more than 5 yen and rose to the low 140 yen level to the dollar. We also intervene in the market again during market trading hours.
On the other hand, Japan's foreign exchange reserves as of the end of October announced on the 8th decreased by more than $43.4 billion from the previous month to $1.1945 trillion, or more than ¥175 trillion in Japanese yen.
Foreign exchange reserves, which provide funds for intervention, have fallen for the third month in a row.
In addition to the decline in the valuation of US government bonds, the fact that the government and the Bank of Japan conducted market interventions of over 6.3 trillion yen in October to sell the dollar and buy the yen is also a factor.