Japan unveiled a $100 billion effort to help companies cope witha surging yen, signaling that officials may be resigned to thecurrency remaining high.

The government will release foreign-exchange reserves to thestate-run Japan Bank for International Cooperation for funding toaid exporters and spur purchases overseas, Finance MinisterYoshihiko Noda told reporters in Tokyo today. The announcement camehours after Moody's Investors Service lowered the nation's debtrating one step to Aa3, with a stable outlook.

The yen was trading today at a level stronger than beforeofficials last intervened to weaken the currency on Aug. 4. Itsrise since the March 11 earthquake to post-World War II highs isundermining the nation's recovery after three straight quarters ofeconomic contraction, complicating the government's efforts totackle its debt burden.

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