A note on the yen/dollar rate without foreign exchange intervention

Takeshi Hoshikawa, Keiko Yamaguchi

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


This article shows what the yen/dollar rate would be without foreign exchange interventions by the Japanese government for 61 086 billion yen. If there had been no interventions, then the yen/dollar rate in June 2011 may have been 54.30 instead of the actual rate of 80.52.

Original languageEnglish
Pages (from-to)238-243
Number of pages6
JournalApplied Economics Letters
Issue number3
Publication statusPublished - 2013


  • Exchange rate
  • Foreign exchange intervention
  • International reserves
  • Japan

ASJC Scopus subject areas

  • Economics and Econometrics


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