Japan may have deployed about $87 billion, or 11 trillion yen, in its latest round of foreign-exchange intervention to support the yen, according to a report cited by China Central Television. The report said U.S. officials recently indicated that the Bank of Japan could have used that amount during the operation. Based on the Bank of Japan’s latest money market data, the intervention on July 30 and July 31 was estimated at roughly $53 billion and $34 billion, respectively. Together, the two days add up to about $87 billion, with the funds used to buy yen in an effort to steady the currency.
BlockBeats reported on Aug. 4 that, according to a report cited by China Central Television, U.S. officials recently said Japan may have used about $87 billion, or 11 trillion yen, in its latest foreign-exchange intervention to support the yen.
The report said estimates based on the Bank of Japan’s latest money market data suggest the central bank likely deployed about $53 billion on July 30 and $34 billion on July 31. That would bring the total to $87 billion, equivalent to around 11 trillion yen, to buy yen and support the exchange rate.
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