Currency

Japan Confirms Record $73 Billion Yen Intervention to Stabilize Currency

News Desk6 hours ago6 hours ago03 mins

The Japanese Ministry of Finance confirmed on Friday that it spent a record 9.79 trillion yen, equivalent to approximately $73 billion, between April 28 and May 27 to support the yen. This intervention follows a period of extreme volatility that saw the currency plummet to 34-year lows against the U.S. dollar, prompting Tokyo to take…

India’s Foreign Exchange Reserves Surge to Record $696.99 Billion

News Desk2 weeks ago03 mins

Record-Breaking Financial Growth India’s foreign exchange reserves surged by $6.295 billion during the week ending September 20, 2024, reaching a new record high of $696.988 billion, according to the latest data released by the Reserve Bank of India (RBI). This substantial climb underscores a period of robust capital inflows and strategic valuation adjustments, positioning the…