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A series of currency market interventions Japanese monetary authorities conducted from May to June to stem the yen’s appreciation cost the government around 3.8 trillion yen, the Finance Ministry said Thursday.

A report on the receipts and payments of Treasury funds released Thursday shows the Foreign Exchange Fund Special Account, mainly used by the Bank of Japan to intervene in the market on behalf of the ministry, incurred a deficit of 512.8 billion yen in July. In May and June, the total deficit was 3.294 trillion yen.

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