World News

Banks borrow $34.9 billion from Bank of Japan’s 1-week dollar funding operation on Monday

TOKYO (Reuters) – Banks borrowed $34.85 billion from the Bank of Japan’s one-week dollar funding operation on Monday, as dollar liquidity remained tight in financial markets with various players hoarding the currency needed for international settlements.

The BOJ said last week it will conduct dollar funding operations every day in coming weeks to ease tensions in the markets as investors braced for a recession in the global economy.

(Reporting by Hideyuki Sano; Editing by Muralikumar Anantharaman)