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The Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Tuesday that he did not want to influence the yen's exchange rate saying the yen was "very weak " last week.
"I didn't mean to evaluate the current nominal exchange rate or forecast the outlook. I just gave a theoretical explanation in response to a question about real effective rates," Kuroda noted today.
The BoJ pointed out that a weak yen boosts exports and revenues at companies operating overseas, but it hurts households and non-manufacturers as import costs rise.
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