A private Japanese think-tank says Japan’s government and the central bank may have conducted a yen-buying intervention worth about 2 trillion yen, or about 12.6 billion dollars, last Friday. On that day, the Japanese currency rose sharply.
The Totan Research says a report released on Tuesday by the Bank of Japan on its current accounts indicated that 2.74 trillion yen will be transferred from commercial banks to the central bank on Wednesday.
The firm says an intervention by the government and the central bank normally results in fund transfers that drastically exceed the estimated intervention amount.
The research firm had said another yen-buying intervention worth about 19 billion dollars was likely to have been carried out last Thursday.
A statistical report to be released by the Finance Ministry at the end of July will show whether the market interventions actually took place.