Japan used more than 9 trillion yen to intervene in the foreign-exchange market between January and July, breaking its record for a full year, according to data released Thursday by the Finance Ministry.
The amount spent thus far in 2003 totals 9.026 trillion yen, surpassing the previous record of 7.641 trillion yen in all of 1999.
Japanese monetary authorities have intervened heavily in the foreign exchange market this year to curb the yen's rise, which threatens to hurt the nation's exporters. Exports remain one of the few bright spots in Japan's struggling economy.