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Economy

Japan government, BOJ express concern over yen's rapid fall

Rare joint statement comes after currency hits 20-year low against U.S. dollar

The Bank of Japan, Tokyo.  "The government and the Bank of Japan will closely cooperate and closely monitor developments in the foreign exchange market and their impact on the economy and prices with an increased sense of urgency," Japan's top financial authorities say.   © Reuters

TOKYO -- Japan's top financial authorities and its central bank on Friday said they were "concerned by the rapid depreciation of the yen," after the currency hit a 20-year low against the U.S. dollar.

The Ministry of Finance, Bank of Japan and Financial Services Agency on Friday held an information exchange meeting on international financial and capital markets. According to the Ministry of Finance, this is the first time for a document to be released after a three-party meeting.

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