URGENT: Yen's recent depreciation vs. dollar "quite rapid": BOJ's Kuroda

Politics Economy

Bank of Japan Governor Haruhiko Kuroda said Monday the yen's recent depreciation against the U.S. dollar has been "quite rapid," stepping up his assessment amid growing concern about its negative impact on the country's fragile economic recovery. The remark, made at a parliamentary session, came after the yen briefly fell to a new 20-year low in the upper 126 range earlier in the day. Finance Minister Shunichi Suzuki also said at the session the yen's current weakness can be described as "bad."

Kyodo News

Kyodo News Bank of Japan