Business

Japan intervenes in the currency market to support the yen


TOKYO — Japan said on Thursday it had intervened in the currency market to sell dollars and buy yen, the first such intervention in 24 years, in an effort to prevent the recent sharp drop in the currency.

The Deputy Finance Minister, Masato Kanda, confirmed the intervention in brief comments to reporters. He said Tokyo has taken decisive measures to prevent what it previously described as an unwanted yen depreciation.



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