Here is a timeline of moves in foreign exchange markets by the Bank of Japan (BOJ).
\nMarch 27, 2024 \u2013 Bank of Japan, the Finance Ministry and Japan\u2019s Financial Services Agency held a meeting after the yen fell to a 34-year low against the dollar, and suggested they were ready to intervene.
\nOct. 21-24, 2022 \u2013 The dollar plunged more than 7 yen at one point on Oct. 21 in a decline sources attributed to authorities\u2019 yen buying. Japanese Finance Minister Shunichi Suzuki declined to confirm whether the government had intervened in the currency market.
\nSept. 7, 2022 \u2013 Top government spokesman Hirokazu Matsuno expresses concern about \u201crapid, one-sided\u201d moves seen in the currency market after the yen weakens beyond 143 per dollar.
\nJune 10, 2022 \u2013 Japan\u2019s government and central bank issue a rare joint statement saying they are concerned by recent sharp falls in the yen after it weakens beyond 134 per dollar.
\nAug and Oct, 2011 \u2013 Japan intervenes to curb gains that officials fear could derail recovery from an economic slump triggered by a massive earthquake and tsunami on March 11, 2011.
\nMarch 18, 2011 \u2013 Group of Seven (G7) nations jointly intervene to stem yen strength when the currency spikes to a record high in the aftermath of the earthquake.
\nSept. 15, 2010 \u2013 Japan intervenes in the currency market for the first time in six years, selling yen to stem a rise in the currency after the dollar hits a 15-year-low at 82.87 yen.
\nMarch 2004 \u2013 A 15-month campaign to curb the yen\u2019s rise comes to an end after Japan has spent 35 trillion yen, or more than $300 billion, on intervention.
\nMay-June, 2002 \u2013 The BOJ intervenes to sell yen, often supported by the U.S. Federal Reserve and European Central Bank (ECB). The yen continues to gain.
\nSept 2001 \u2013 The BOJ intervenes to sell yen after the Sept. 11 attacks in the United States. The ECB and New York Fed operate on behalf of the BOJ.
\nJanuary 1999 to April 2000 \u2013 The BOJ sells yen at least 18 times, including once via the Fed and once via the ECB, due to worries the currency\u2019s strength will choke economic recovery. The yen continues to strengthen.
\n1997 \u2013 1998 \u2013 The Asian financial crisis sees the yen weaken, reaching nearly 148 per dollar in August 1998, even after U.S. authorities join the BOJ to buy yen.
\nApril 1994 \u2013 August 1995 \u2013 The dollar sinks to a record low against the German mark and a post-war low against the yen. The United States intervenes repeatedly, often with Japanese and European central banks, to prop up the greenback.
\n1993 \u2013 The BOJ sells yen through much of the year to curb its strength.
\n1991 \u2013 1992 \u2013 The BOJ intervenes to support the yen, selling U.S. dollars.
\n1988 \u2013 The dollar falls to 120.45 yen on Jan. 4, at that time a post World War Two low, in Tokyo trade. The BOJ intervenes to buy dollars and sell yen.
\n1987 \u2013 In February, six of the G7 nations sign the Louvre Accord, which aims to stabilise currencies and halt the dollar\u2019s broad decline.
\n1985 \u2013 The Group of Five industrial nations, the predecessor to the G7, sign the Plaza Accord, in which they agree that the dollar is overvalued and that they will move to weaken it.
\n1973 \u2013 Japanese monetary authorities decide to let the yen float freely against the greenback.
\n($1 = 151.3600 yen)
\n(Reuters)currency intervention. foreign exchange markets, Bank of Japan, yen<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Japan has intervened in foreign exchange markets multiple times over the years to influence the value of the yen.<\/p>\n","protected":false},"author":5,"featured_media":5833,"comment_status":"open","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1234,1902,48,611,1221,3832,2190,260,50,26,51,2515,52,569,518,3102,3834,415,3029,658,1401,2042,34,1346,393,1806,1827,1358,618,1006,544,293,18,3833],"class_list":["post-5832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-attacks","tag-bank","tag-bank-of-japan","tag-banks","tag-campaign","tag-currency","tag-decline","tag-dollar","tag-ecb","tag-economy","tag-european-central-bank","tag-february","tag-federal-reserve","tag-finance","tag-finance-minister","tag-finance-ministry","tag-foreign-exchange-markets","tag-government","tag-government-spokesman","tag-history","tag-interest-rates","tag-japan","tag-markets","tag-meeting","tag-new-york","tag-services","tag-statement","tag-support","tag-top","tag-trade","tag-united-states","tag-war","tag-world","tag-yen"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n