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Japan intervenes over yen rise against dollar

08-04-2011 14:51 BJT

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Japan is now taking measures to curb the strengthening of its currency. The country's finance minister Yoshihiko Nado says Japan is stepping in to stem the rise in the yen.

The Bank of Japan will be purchasing several currencies -- to offset the yen's gains. No details were given on the size or scope of the intervention, but Nado says that policy decisions would be revealed late Thursday.

This news follows days of speculation on whether Japan would act to protect exports as the government tries to safely guide the economy to recovery.

A man walks past the Bank of Japan headquarters building in Tokyo August 2, 2011. Credit: Reuters/Yuriko Nakao

Editor:Li Wanran |Source: CNTV.CN

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