MADRID, June 26 (EUROPA PRESS) –
The price of the yen against the dollar fell this Wednesday to levels similar to those that pushed the Government of Japan to intervene in the market last April, when the exchange rate of the Japanese currency marked its worst record in 34 years. .
The dollar exchange rate today reached 160.18 yen for each ‘green bill’, slightly below the 160.24 yen on April 29, when it registered its worst exchange rate against the dollar since April 1990.
The Japanese Ministry of Finance confirmed in May that it had allocated a record amount of 9.788 trillion yen (57.22 billion euros) to operations in the foreign exchange market to defend the price of the Japanese currency between April 26 and 29. of May.
This was the first intervention by the Japanese Ministry of Finance in the currency market since it came out in defense of the yen in October 2022, when it allocated 6.349 trillion yen (37.11 billion euros).
At its last meeting, held in mid-June, the Bank of Japan’s Policy Council unanimously decided to keep short-term interest rates in a range of 0% to 0.1%, unchanged from its previous meeting. thus delaying the expected tightening of the Japanese country’s monetary policy, although the entity did announce that it is preparing to reduce the amount of its bond purchase program, something that could be detailed at its next meeting at the end of July.
