Japanese policy regarding convertibility of their currency

Exchange Rate Limit

Limits to foreign currency exchange to/ from Yen

Maximum
Weekdays: Amount equivalent to 5,000,000 yen.
Weekends & Holidays.: Amount equivalent to 2,000,000 yen
("Weekends & Holidays" is when Foreign exchange market is closed.)
Minimum
Equivalent yen amount of 1,000 yen and in units of 10 basic currency units

Limits to cross currency transaction (A foreign currency transaction that does not
include conversion to/ from Japanese Yen.)

Maximum
US Dollar (USD), Euro (EUR) and Canadian Dollar (CAD)
30,000 currency units

Pond Sterling (GBP)
20,000 currency units

Australian Dollar (AUD) and New Zealand Dollar (NZD)
50,000 currency units

Minimum
10 currency units for each foreign currency

How the Bank of Japan Affects the Foreign Exchange Market
The Japanese economy is very dependent on importing and exporting goods and
services. Nearly all of their natural resources, such as oil are imported and a large
portion of their businesses products/services are exported. As a result, the Bank of
Japan used to peg the Yen to the U.S. Dollar at a fixed rate in order to remain
competitive in their exporting operations.
Also, the BOJs interest rate decisions have a profound effect on the Yens exchange
rate. For example, if the BOJ decides to raise the interest rate, then returns on Yen
assets will appear more favourable to investors and the Yen will appreciate in value.
This will create a situation where imports are cheaper for Japanese citizens and their
exports become more expensive to the rest of the world. Currently with interest rates
at 0%, Japanese investors are some of the largest investors in foreign securities (in a
recent quarter they purchased billion worth), but if returns in Japan were to increase,
then investors will be more inclined to sell their foreign assets and purchase domestic
ones. On the other hand, if the BOJ chooses to lower the interest rate, then Yen assets
will not be as appealing to investors and the Yen will depreciate in value. This
scenario causes imports to be more expensive for Japanese citizens, but their exports
become more appealing to other nations. Currently, this scenario is impossible
because interest rates are at 0%.

EXCHANGE RATES AS OF TODAY
Japanese Yen 1.00 JPY inv. 1.00 JPY
Euro 0.007295 137.088484
US Dollar 0.009866 101.355000
British Pound 0.005775 173.175153
Indian Rupee 0.596320 1.676952
Australian Dollar 0.010504 95.202751
Canadian Dollar 0.010591 94.419861
Emirati Dirham 0.036239 27.594609
Swiss Franc 0.008863 112.823510
Chinese Yuan Renminbi 0.061261 16.323622
Malaysian Ringgit 0.031406 31.840602
(X-rates)
References
http://www.x-rates.com/table/?from=JPY
http://www.gocurrency.com/articles/bank-of-japan
https://www.boj.or.jp/en/