Japanese Finance Minister Shunichi Suzuki reiterated on Friday, 21, concerns about the rapid devaluation of the yen and reinforced readiness to intervene in the foreign exchange market. “There is no change in our position that we will take appropriate action if there are excessive movements” in the foreign exchange market, he said during a press conference.
According to him, the weakness of the currency can increase the profits of Japanese companies abroad, but it is important for the government to alleviate the negative effects, such as price increases.
The comments came after the yen fell below the 150 threshold against the dollar on Thursday, the 20th, for the first time since August 1990. 150,395 yen, from 150.24 yen late yesterday afternoon. Source: Dow Jones Newswires.
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