BOJ: Banks borrow record $89.3 billion from dollar funding operations

Dhwani Mehta FXStreet

Amid ongoing liquidity crunch due to the coronavirus chaos, the Bank of Japan (BOJ) said on Tuesday, banks borrowed a total of $89.3 billion (76.69 billion pounds) from the central bank’s one-week dollar funding operation.

The borrowing was well beyond its previous record of $50.2 billion, hit on October 21, 2008, during the global financial crisis (GFC), as Reuters reports.

BOJ’s Kuroda: Closely monitoring the market moves

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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