
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
-
Core Inflation in Japan’s Capital Sharply Accelerates in April
-
U.S. Holds Fire Over Yen Exchange Rate Targets; Bessent Said to Understand Negative Impact on Markets
-
Rice Prices Rise for 15th Straight Week, with Releases of Stockpiled Rice Slow to Circulate
-
Japan Must Take Lead in Maintaining Free Trade System, Says Chairman of Japan Trade Group
-
Groundbreaking Ceremony Held for Japan’s 1st Casino Resort; Site Set to Open in Fall of 2030
JN ACCESS RANKING