New Finance Minister Naoto Kan said Thursday he hopes the yen will weaken to help the economy recover.
"Currently, the yen is weakening since around the time of the Dubai shock, but I hope it will correct a bit more," Kan said in his inaugural news conference.
"I will make efforts, including working together with the Bank of Japan, to get the yen to appropriate levels while considering various effects on the economy that may be caused by currencies," Kan said.
He said many Japanese firms think it would be ideal for the Japanese currency to be around ¥95 to the dollar.
It is rare for a Cabinet member to make comments on foreign-exchange levels.
A weaker yen increases Japanese firms' global competitiveness and repatriated overseas profits.
Kan replaced Hirohisa Fujii, whose repeated remarks that the Democratic Party of Japan-led government was reluctant to intervene sent the yen higher and weighed on the stock market.
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