The New York Fed’s Nov. 12 quarterly report details Treasury’s July 31 conversion of euro holdings into yen.
The New York Fed’s quarterly report said it purchased 79.4 billion yen for Treasury in a spot transaction. Treasury sold euro holdings worth about $500 million from the Exchange Stabilization Fund; the operation, coordinated with Japan, aimed to curb disorderly yen movements.
The Federal Reserve did not take part in the July operation. It also made no foreign-exchange interventions during the July-September quarter, the report said.
EconoTimes previously reported the New York Fed’s yen purchase for Treasury.
