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Re: Japan: forex interventions

> Japan spent 7.15 trillion yen on currency-market intervention in January,
> marking a new single-month record, Finance Ministry data showed Friday.

That's about US$67.4 billion for the month, or US$808.7 billion a year, if
exactly the same level of intervention continued throughout the year.
Assuming a annual Japanese GDP at ppp of about US$3.6 trillion, we could
then extrapolate an annual cost equal to around 22% of Japan's GDP, i.e. an
amount equal to over a fifth of the value of the official national income
being spent just on bolstering the national currency !!!

Jurriaan
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