TOKYO, August 3 (HS/RIA Novosti) - The Japanese Finance Ministry announced that it, together with the US Treasury Department, had conducted a currency intervention to purchase yen.

The intervention took place on July 31.

This joint action was taken pursuant to the U.S.-Japan Finance Ministers' Joint Statement issued in September 2025 and countered excessive volatility and disorderly movements in the Japanese yen in recent months, the statement says.

The Japanese Finance Ministry continues to monitor the situation and maintains close contact with the US ministry.

We will not hesitate to conduct further joint intervention, the ministry emphasized.

Japan also plans to continue to use the US Federal Reserve's FIMA Repo Facility, a repo facility for foreign and international monetary authorities. After the Japanese currency weakened to 162 yen against the dollar on July 30, the Japanese government conducted currency intervention for the first time since May 2026. This resulted in the yen rising to 157.97 yen per dollar.

According to the Kyodo news agency, the scale of the intervention ranged from 6 to 7 trillion yen ($38.11 billion to $44.5 billion).

Then, on July 31, Japan time, the yen fell again to 160.2 yen per dollar. After this, another intervention, the scale of which has not yet been announced, was presumably conducted overnight on Saturday, but it pushed the yen to 157 yen per dollar.

As of 00:15 GMT Monday, the yen was trading at 157.8 yen per dollar.

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Hindusthan Samachar / Indrani Sarkar