The Japanese national currency has gained some ground against the US dollar and was trading at 97.93 per one unit of the American currency after having dropped to the level of 97.55 yen in Asian trade.

The Japanese currency has fallen to new low levels against the dollar following the announcement of more stimulus measures from the Bank of Japan, which will help exporters and boosts repatriated earnings. The US dollar has risen 7 per cent against Yen since BOJ announced its massive stimulus program. The US administration had indicated that it will monitor Japan's actions in the currency valuation.

The Japanese Yen touched 99.95 per US dollar on Thursday, which is its highest in four years. On the other hand, the Euro weakened 0.8 per cent to 127.92 yen after dropping earlier to 127.56 yen. The euro had touched 131.10 yen in the previous week, which is its highest in more than three years.

The BOJ said in the Japanese capital that it will purchase 7 trillion yen or $74 billion of bonds every month. He is aiming to reach 2 per cent inflation in two years as part of the plan to reverse the trend of falling prices in more than 15 years in the world's third largest economy.