The governor of Japan's central bank has not ruled out further interventions in the currency markets in its fight to control the rising value of the yen. Speaking at a conference in Kobe, Masaaki Shirakawa said the Bank of Japan (BOJ) was "ready to implement appropriate action" if required. The BOJ intervened in the currency markets for the first time in six years earlier this month. Its decision to sell large amounts of yen helped drive down the currency. Previously the yen had reached a 15-year high against the dollar - a concern for Japan's exporters who are seeing their profits squeezed by the poor exchange rate. The comments came two days after the central bank was suspected of intervening in the markets for a second time, leading to a sharp fall of more than 1% in the value of the yen against the dollar.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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