Japan's government spent a record amount to buy yen in April and May 2026, marking a strong effort to stem the domestic currency's decline. Data released on May 31 showed total interventions from April 26 to May 29 exceeded 9 trillion yen (approximately $60 billion), surpassing the previous record set in September 2022. The yen had fallen to 34-year lows against the U.S. dollar, prompting Tokyo to act amid concerns over higher import costs.

May 29, 2026

Economy

Japan posts record ¥11.73 trillion forex intervention in April-May

Japan’s Finance Ministry confirmed a record ¥11.73 trillion ($74 billion) in forex intervention during April and May to support the yen. The move came amid heightened Middle East tensions driving up import costs and yen weakness. It was the largest intervention since 2022, signaling Tokyo’s resolve to stabilize the currency.

May 29, 2026

Economy

Japan Confirms $74.4 Billion Currency Intervention in April-May

Japan's Finance Ministry confirmed on May 31 that it spent a total of 11.73 trillion yen ($74.4 billion) on foreign exchange intervention in April and May, the first detailed disclosure after weeks of market speculation. The operations occurred on April 29 and May 4 when the yen hit a 24-year low against the U.S. dollar, surpassing 150 yen per dollar. Analysts said the spending was higher than expected, showing the government's commitment to stabilizing the yen amid the BOJ's ultra-loose monetary policy.

May 29, 2026

foreign exchange intervention | Axios Times