📰 Japan sells off foreign assets to rescue the Yen
Japan, the country holding the largest amount of U.S. government debt in the world, has just carried out one of the most expensive currency defense campaigns in modern history. Japan’s Ministry of Finance said it sold 11.73 trillion yen (equivalent to $73.4 billion) in foreign assets to fund interventions buying the Yen through the end of May.
In May alone, Japan’s foreign securities portfolio fell by $75.6 billion, marking the largest monthly decline on record. The country’s total foreign exchange reserves fell by $77.1 billion (equivalent to 5.6%), to $1.306 trillion, with the value of foreign securities dropping to $931.7 billion.
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🔗 Source: Crypto Briefing
⚠️ This information is for reference only and is not investment advice. Please do your own research before making any decision (DYOR).
Japan, the country holding the largest amount of U.S. government debt in the world, has just carried out one of the most expensive currency defense campaigns in modern history. Japan’s Ministry of Finance said it sold 11.73 trillion yen (equivalent to $73.4 billion) in foreign assets to fund interventions buying the Yen through the end of May.
In May alone, Japan’s foreign securities portfolio fell by $75.6 billion, marking the largest monthly decline on record. The country’s total foreign exchange reserves fell by $77.1 billion (equivalent to 5.6%), to $1.306 trillion, with the value of foreign securities dropping to $931.7 billion.
#CryptoNews
🔗 Source: Crypto Briefing
⚠️ This information is for reference only and is not investment advice. Please do your own research before making any decision (DYOR).