Analysts at Japanese currency trading company Central Tanchi said that according to the Bank of Japan, Japan put the most dollars last Friday night to support the yen.
And the Bloomberg news agency quoted a report that Japanese authorities’ intervention in the stock market could be estimated at 5.5 trillion yen ($36.8 billion) in light of the Bank of Japan’s expectations to change its current account.
The agency noted that this estimate provides a separate figure for the amount that Japan could spend to support its falling currency.
It comes at a time when Japan’s Finance Minister Sunichi Suzuki reaffirmed his country’s readiness to act last Friday, saying this sudden and unilateral decline in the yen is unacceptable and that he is keeping a close eye on the markets for the gravity of the situation.
Source: dpa + “Bloomberg”