Japan's Ministry of Finance said, "In July, KRW 50 trillion foreign exchange market intervention"

It has been confirmed that Japan's foreign exchange authorities intervened in the foreign exchange market worth 50 trillion won by selling the U.S. dollar and buying the yen in response to the sharp drop in the yen's value on July 11-12.

Japan's Finance Ministry said there have been two consecutive days of market interventions worth 5.5348 trillion yen and 50.29 trillion won in our money, including 3.1678 trillion yen on July 11 and 2.367 trillion yen on July 12.

On the same day, the yen-dollar exchange rate plunged more than 4 yen from 161 yen to 157 yen in the New York foreign exchange market, raising the possibility of Japanese authorities intervening in the market.

The next day, the yen-dollar exchange rate fell further, and the Ministry of Finance announced an intervention worth 5.3348 trillion yen between the end of July and June 27 and July 29.

However, it did not disclose a specific date when the foreign exchange market intervention took place at the time.