URGENT: Japan spent record 6.35 tril. yen in Oct. yen-buying intervention

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Kyodo News

Japan spent a record 6.35 trillion yen ($43 billion) when making what were likely multiple interventions in the currency market in October, Finance Ministry data showed Monday, as the nation sought to arrest the rapid depreciation of its currency. The previous high was 2.84 trillion yen set in September, thought to have been primarily spent on Sept. 22 when Japan stepped into the market by buying the yen with U.S. dollars for the first time since 1998. Since then, Japanese authorities have kept mum on any intervention, leaving financial markets on edge.

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