Yen falls after G7 pledge to support Japan

March 17, 2011 6:39:03 PM PDT
The yen has dropped in value following a pledge by Group of Seven major governments to intervene in markets to support Japan's quake recovery.

The Japanese currency fell from 79.45 to the U.S. dollar to 81.26 in early Friday trading. That came shortly after the G7's pledge to intervene in markets to stop the currency's rise, which could hurt Japan by making its exports more expensive.

Japan's Kyodo News agency said the government intervened in currency markets immediately after the joint G7 statement but there was no immediate official confirmation of that.

RELATED: Search the International Committee of the Red Cross (ICRC) site to see if loved ones in the quake zone have checked in to say they are okay

RELATED: To help, visit and donate to Japan Earthquake and Pacific Tsunami. You can also text REDCROSS to 90999 to make a $10 donation to the recovery effort

RELATED: Watch videos of the earthquake and tsunami as they happened in Japan

Emergency Information

For emergency information, assistance, and locating family in connection with earthquake in Japan:

Phone numbers in US and Japan:

202 559 4683
800 373 1110
0570 000 911
011 81 90 7170 4769
011 81 90 3080 6711