Tokyo, June 09 (QNA) - Japan affirmed its readiness to take decisive action to curb the yen's decline, as the currency fluctuated around the 160-yen-per-dollar level, levels that had previously prompted the Japanese authorities to intervene in the foreign exchange market.
Japanese Finance Minister Satsuki Katayama said on Tuesday that the government is closely monitoring movements in the currency market, stressing that its position has not changed regarding its readiness to take decisive steps when necessary to maintain market stability.
Data from Japan's Ministry of Finance for the period from April 28 to May 27 showed that the Japanese authorities spent a record JPY 11.73 trillion (USD 73 billion) on interventions in the currency market, while details of daily spending were not disclosed.
Before those interventions, which are believed to have been carried out several times between April 30 and early May, the yen had fallen to around 160.72 per dollar on April 30, its lowest level since July 2024.
These measures helped strengthen the yen, lifting it to around 155 per dollar. However, it gradually gave up some of its gains as demand for the US dollar continued, given its status as a safe-haven asset amid tensions in West Asia. (QNA)