Currency intervention

A government and central bank buying or selling currency

In detail

Intervention is the government and central bank trading in the market to curb a move they consider excessive. Who decides and who executes is set by each country. The rate can jump sharply right afterwards, but since the underlying rates and economy are unchanged the effect need not last. Whether it happened is usually disclosed later.

Example

In 2022 the Japanese authorities bought yen while the rate was above 150 per dollar.

Differences by country

Japan — In Japan the finance minister decides and the Bank of Japan executes.

South Korea — In Korea the government (Ministry of Finance and Economy) and the Bank of Korea act together as the FX authorities, and each quarter's net dealing is published about three months later (as of 2026).

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For learning, not investment advice. Decisions are your own.

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