- MARKETS
Yen briefly hits ¥150 per dollar

A board showing ¥150 per dollar at Gaitame.com Co. in Minato-Ward, Tokyo on Thursday.
16:48 JST, October 20, 2022
The yen briefly weakened to the ¥150 per dollar level on the Tokyo foreign exchange market on Thursday. This was its weakest level in just over 32 years, since August 1990 in the bubble period. The yen has weakened by ¥35 since the beginning of the year, when it was around ¥115 to the dollar.
While the U.S. has been rapidly raising interest rates in an effort to curb inflation, the Bank of Japan is keeping interest rates low through large-scale monetary easing, and there is a strong trend to buy dollars, which is advantageous for asset management, and to sell yen.
The government and the Bank of Japan intervened in the currency market on Sept. 22 for the first time in about 24 years by buying yen, but the trend of yen depreciation appears to remain unstoppable.
"BUSINESS" POPULAR ARTICLE
-
Japan’s Economy Contracts as Demand Wanes
-
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
-
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
-
Suntory’s Hibiki Whiskey Price Planned to Increase by 125%; Demand Higher than Production
-
Energy Challenges / High Electricity Bills Overshadow Digitalization in Japan
JN ACCESS RANKING