According to the Japanese broadcaster, while the size of the intervention remains unknown, to conduct it the Japanese government is believed to have sold some of the US Treasury bonds it possesses.
Earlier in the day, the Bank of Japan left unchanged the short-term interest rates at minus 0.1% at the end of a two-day policy meeting. Immediately after this, the official Japanese currency dropped to its lowest in 24 years of 145.24 yen per dollar on the Tokyo Stock Exchange.
The move follows the rise in US dollar against world currencies, including the yen, earlier in the day, after the US Federal Reserve raised benchmark interest rates by a three-quarters of a percentage point. It was the fifth US rate hike since the outbreak of the coronavirus pandemic two years ago.