Japan reportedly spent more than $30 billion to support the yen after it hit its weakest level versus the dollar in years. Officials had previously hinted at possible action, and the intervention appears to be Japan’s first since 2024. The goal is to stabilize the currency amid global economic pressures and volatile market conditions.
The Indian rupee jumped versus the US dollar with its biggest single-day gain in more than 12 years after the Reserve Bank of India extended curbs on offshore derivatives. The move targets forex speculation that had pressured the currency in recent weeks, and it also disrupted a major segment of market activity—raising questions on whether the rebound can hold.
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