Society | Mar 21

BOJ, other central banks to boost dollar supply

Mar 21 (NHK) - The Bank of Japan has announced that it will work with other major central banks around the world to enhance dollar swap lines.

The move is aimed at stemming the confusion in financial markets due to the coronavirus pandemic.

The BOJ said on Friday it will further expand the supply of dollar funds to financial markets in cooperation with the US Federal Reserve, the European Central Bank and others.

The BOJ will supply dollars to the market every day, instead of once a week. It says it will continue at least through the end of April.

Demand for the dollar, considered a safe-haven asset, is soaring in global financial markets.

amid the turmoil by the virus outbreak, as the US currency is considered a safe-haven asset.

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