TOKYO : Japan confirmed on Tuesday that it did intervene in the foreign exchange market twice in October to support its yen currency, Ministry of Finance (MOF) data showed on Tuesday.The quarterly data showed a steep drop in the yen to a 32-year low of 151.94 to the dollar on Oct. 21 triggered the interve
TOKYO : Japan confirmed on Tuesday that it did intervene in the foreign exchange market twice in October to support its yen currency, Ministry of Finance data showed on Tuesday.
The stealth interventions, or making a foray in the market without announcing it, came after Tokyo intervened to buy the yen for dollars for the first time in 24 years on Sept. 22. The dollar has pulled back to move in a range around 130 yen since then, while stoking some concerns about renewed yen rises, which could hamper Japanese exports of cars and electronics.
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