Japan's Ministry of Finance buys yen in co-ordination with US Treasury

Japan’s Ministry of Finance has said that it purchased Japanese yen in co-ordination with the US Department of Treasury on 31 July, “to counter excessive volatility and disorderly movements in the Japanese yen in recent months”.

The total amount of intervention has not been disclosed, but the yen has since regained strength against the dollar. Before the intervention, the dollar was trading at around 162–163. By 3 August it had fallen to roughly 155–156.

The action was taken based on a US-Japan Finance Ministers’ joint statement issued in September 2025 which declared that intervention in foreign exchange markets may be considered for combatting excess volatility and disorderly movements in exchange rates. While committing to public disclosure of foreign exchange intervention on at least a monthly basis.

Japan has also said that it plans to utilise the Federal Reserve’s Foreign and International Monetary Authorities (FIMA) Repo Facility in the future.