Japan spent USD64bn in yen interventions

TOKYO: Japan has spent around 10 trillion yen (USD64 billion) since last week propping up the yen, local media reported citing market estimates based on central bank data.

The market interventions reportedly began on April 30 when the Japanese currency weakened to near 160 yen per dollar, the lowest in almost two years.

Since then there have been several spikes in the unit, sparking speculation of further moves by authorities, and on Friday it was trading close to 157.

Atsushi Mimura, Japan’s top currency official, on Thursday declined to comment, local media reported.