Japanese Finance Minister Shunichi Suzuki on the sidelines of the IMF/G20 meetings at the US Treasury in Washington, on Apr 17, 2024. that recent foreign exchange intervention was conducted to contain excessive volatility, but such action should be done in a restrained manner.
"Foreign exchange intervention should be done with its necessity and effectiveness taken into account," Suzuki said, speaking in a regular post-cabinet meeting news conference. Data from the Ministry of Finance showed last week that authorities spent ¥9.79 trillion intervening in the market to support the yen over the past month.
On Friday, data from the ministry showed that Japan's foreign reserves fell to US$1.23 trillion at the end of May, down US$47.4 billion from a month earlier. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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