TOKYO (Reuters) – Japan confirmed on Tuesday that it did intervene within the overseas alternate market twice in October to assist its yen forex, Ministry of Finance (MOF) information confirmed on Tuesday.

The quarterly information confirmed a steep drop within the yen to a 32-year low of 151.94 to the greenback on Oct. 21 triggered the intervention that day, adopted by one other on Oct. 24.

The stealth interventions, or making a foray available in the market with out asserting it, got here after Tokyo intervened to purchase the yen for {dollars} for the primary time in 24 years on Sept. 22.

Japan spent a report 6.35 trillion yen ($47.9 billion) on two unannounced interventions in October, having spent 2.84 trillion yen on Sept. 22 to stem the yen’s sharp fall, which boosted residing prices for resource-deficiant Japan.

The greenback has pulled again to maneuver in a variety round 130 yen since then, whereas stoking some issues about renewed yen rises, which may hamper Japanese exports of vehicles and electronics.

It was uncommon for Japan to conduct yen-buying, dollar-selling interventions given the nation’s previous battle with a robust yen making Japanese items much less aggressive abroad.

Japan publishes month-to-month intervention information on the finish of every month, and it points each day outcomes for the prior quarter.

($1 = 132.5500 yen)

(This story has been refiled so as to add the lacking letter within the headline)