Corporations should take measures to become less vulnerable to fluctuations in the yen-dollar exchange rate, Bank of Japan Gov. Masaru Hayami reiterated Monday.
In a regular news conference, Hayami dismissed calls for further easing the bank's monetary policy to curb the yen's recent surge. The yen's appreciation is hurting many of the nation's export-oriented firms.
Hayami argued that firms instead should defend themselves by settling claims with foreign companies in yen, rather than dollars, and by hedging against currency losses.