Intervention proves profitable for Japan
MARKET NEWS
TOKYO -- The Japanese government is almost $50 billion better off thanks to its interventions in the foreign exchange markets, a former finance ministry official revealed last week.
Takatoshi Ito, now a professor of economics at Hitosubashi University, said in a research document the authorities "have made around ¥6,000 billion forex profits in the past 10 years".
Japan has made around ¥27,000 billion worth of interventions in the past 10 years, recently released figures from the ministry of
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