Japan's Ministry of Finance confirmed the country spent a record $73.69 billion on yen intervention over the past month, marking its first direct market intervention since 2024. The massive sum—equivalent to 11.7349 trillion yen—was deployed between April 28 and May 27 as authorities sought to arrest the currency's steep decline.

The intervention underscores growing pressure on Japanese policymakers as the yen trades near multi-year lows against the dollar. Officials have faced mounting criticism over the currency's weakness, which threatens to fuel inflation and erode consumer purchasing power across the world's third-largest economy.

Currency traders had anticipated such action after the yen's sharp depreciation accelerated in recent weeks. The scale of spending signals Tokyo's willingness to deploy substantial resources to stabilize financial markets and support domestic economic confidence.

This record intervention puts Japan's monetary policy stance under scrutiny, particularly as other major economies maintain divergent interest rate paths that could continue pressuring the yen.