🇯🇵 Yen's exchange rate stabilization is a responsibility of the Minister of Finance (MoF)

🇯🇵 Yen's exchange rate stabilization is a responsibility of the Minister of Finance (MoF) MoF is also the holder of Japan's international reserves - not the Bank of Japan so in Japan the government has significant responsibility for USD/JPY

this is nothing unusual though - many governments do this, and it's mostly towards stabilizing the exchange rate with USD to a large extent this is a result US dollar's reserve currency status and its dominance in use for all sorts of financial transactions

i wrote a thread about what it means for the US dollar to be the reserve currency from the perspective of demand and liquidity you can read it here: https://illya.sh/threads/@1754940239-1.html