According to him, foreign exchange reserves will be provided to JBIC (Japan Bank for International Cooperation, JBIC) to allocate credits to exporters and encourage purchases of foreign assets. It is noted that the new program is designed for one year. In addition, the authorities plan to strengthen the monitoring of foreign exchange market by demand from large financial institutions to disclose their trading positions. Noda believes that some strengthening of the yen in recent years due to the increase in speculative trading in the форекс market. At the same time, experts are skeptical with respect to new initiatives of the authorities of Japan. "It is unlikely that today's announcement a major impact on the yen – said currency strategist at Credit Agricole CIB Mitul Kotecha (Mitul Kotecha). – I do not think that this decision will increase the limited interest of Japanese companies by foreign assets. " Recently, the foreign exchange market has been a significant strengthening of the yen against the dollar on the background of instability in the global economy, which increases the interest of investors to a more robust Japanese currency. Late last week the exchange rate reached the highest values since the Second World War in the 76.13 yen per dollar. As of 09.14 Moscow time, the yen rose against the dollar to 76.65 yen to the dollar against 76.67 yen per dollar.
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