The ministry said it did not conduct any currency market interventions via the Bank of Japan from Oct. 29 to Nov. 26.

The ministry's monthly announcement came after the yen's value hit a 14-year-high against the U.S. dollar on Friday as market participants flocked to buy the Japanese currency amid fears over Dubai debt problem.

The dollar fell to as low as 84.82 yen, its lowest level since July 1995.

Some corporate executives and policymakers are worried that the recent appreciation of the yen will hurt Japan's economy, which is highly dependent on the performance of the export-oriented manufacturing industry.

Tokyo used more than 35 trillion yen in the 15 months from January 2003 through March 2004 to stem the currency's steep rise against the dollar.

Japan's currency policy is controlled by the ministry with the BOJ acting its agent.