5. The following chart shows the numbers on the average nominal rate (NER) and real exchange rate (REER) of the Japanese Yen against several foreign currencies

(such average index numbers are called real effective exchange rates):

2011 2012 2013 2014 2015 2016 Q3 105.7 107.2 87.1 81.5 76.6 93 NER 101.3 100.0 79.7 75.1 70.3 83.6 REER Base 100 in 2010.
Source: http://www.bis.org/statistics/tables_i.pdf Since December 2012, Japan has a new Prime Minister, Shinzō Abe, who has introduced a new economic policy (“the abenomics”) advocating, besides structural reforms, an aggressive monetary easing to foster the economic growth that has been very low for several years. Explain the evolution of the exchange rate of the Yen in this context.