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Bank of Japan to buy $6 billion in cash to combat potential market turmoil

The Bank of Japan has decided to tap $6 billion in cash from a government account in a rare arrangement to ensure it has enough ammunition to combat any market disruptions

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Bank of Japan | Japan | Coronavirus Vaccine

Reuters  |  TOKYO 

By Leika Kihara TOKYO (Reuters) - The Bank of Japan has decided to tap $6 billion in cash from a government account in a rare arrangement to ensure it has enough ammunition to combat any market disruptions caused by a recent resurgence in coronavirus infections. Under the arrangement announced on Wednesday, the central bank will buy dollar cash from the Ministry of Finance any time through to the end of March next year at the prevailing market exchange rate at the time. It will be the first time the BOJ will buy dollars outright from the MOF, underscoring the central bank's ...

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First Published: Wed, December 16 2020. 08:21 IST
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