As the yen weakened to its lowest level in 37 and a half years, trading at 160.40 yen per dollar in the foreign exchange market, Finance Ministry Vice-Minister Kanda warned the market, saying, “We will take necessary measures against any excessive movements.”

Ministry of Finance, Financial Affairs Officer Kanda
“We are seriously concerned about the recent rapid depreciation of the yen, and are closely monitoring market trends with a high level of vigilance. We will take the necessary measures against any excessive movements.”

In the foreign exchange market, the yen weakened to a level of 160.40 yen per dollar, the lowest since December 1986, and concerns about market intervention grew. Amid this, Finance Ministry Vice-Minister Kanda responded to questions from reporters just after 10 p.m. and said that “recent exchange rate movements are rapid.”

He then emphasized that he was “prepared to take action at any time,” including market intervention, and warned against excessive market movements.