Tokyo, August 03 (QNA) - Japan and the United States carried out a coordinated yen-buying intervention in the foreign exchange market on Friday, marking the first joint currency intervention by the two countries in 15 years, Japanese Finance Minister Satsuki Katayama said on Monday, adding that they stand ready to act again if needed.

According to Japan's Kyodo News, the intervention took place during New York trading on Friday after the yen weakened to 163.99 per US dollar on July 23, its lowest level in about 40 years.

Katayama said the move was carried out under a joint agreement between the finance ministries of the two countries to counter the yen's recent excessive volatility and disorderly movements.

She added that Japan's Ministry of Finance remains in close contact with the US Treasury over foreign exchange developments and that the two countries would not hesitate to undertake further coordinated intervention if necessary.

Following remarks by Japanese and US officials signaling the possibility of additional action, the yen briefly strengthened during Monday's trading, rising from around 157 to near 155 per dollar.

The latest operation marked the first coordinated intervention by Japan and the United States in the foreign exchange market since 2011, when the two countries acted together following the devastating earthquake and tsunami that struck northeastern Japan. (QNA)