Japan has boosted monitoring currency positions of financial institutions to curb the yen’s strength, Reuters reports. The government has also created a $100 billion credit line for companies investing overseas. The ministry of finance, which may extend dollar loans jointly with Japanese banks to companies looking to invest abroad, also looks to quicken the private sector’s conversion of yen to foreign currencies to stabilize markets. Major financial institutions operating in Japan will also be asked to give a report on currency positions held by dealers on a daily basis until the end of September.
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