The government remains committed to taking firm action against these moves.” However, expectations are rising that US interest rates will remain high as a bulwark against inflation, and as the BOJ shows no sign of backing away from its program of monetary easing, the gap in interest rates between the two countries will make it difficult to halt the yen’s further slide. On October 20, Minister of Finance Suzuki Shun’ichi aimed to stem the yen’s fall by stating: “Excessive volatility in currency markets caused by speculative trading must not be tolerated. Meanwhile, the rising cost of imports is causing food and energy prices to spike, impacting Japanese consumers’ pocketbooks. Speaking at a House of Councillors budgetary meeting on October 19, Bank of Japan Governor Kuroda Haruhiko warned that the yen’s rapid fall risked negatively impacting the Japanese economy and was “undesirable.” Although the government and BOJ remain highly concerned as the currency trends around the ¥150 line, Japan has yet to start aggressively buying yen despite seeing little possibility of the US government adjusting its monetary policy anytime soon.Ī weakening yen was once welcomed by Japan’s automakers and electronics manufacturers for its boost to repatriated profits earned overseas, but as they have moved more of their manufacturing capacity abroad, this impact has lessened. While the yen rebounded to the low ¥140 level immediately following the move, the effect quickly wore off, and the yen has continued to drop in October. The yen’s slide continues despite the Japanese government and the Bank of Japan intervening on September 22 for the first time in some 24 years with a spate of yen-buying and dollar-selling to keep the currency from weaking further. The last time the currency was at this level was in August 1990. Mataf.The Japanese yen has depreciated at a blistering pace against the dollar over the last several months, falling below the ¥150 level briefly during trading in Tokyo on October 20.Print the charts and take them with you in your purse or wallet while you are traveling. The USD conversion factor has 6 significant digits. The JPY conversion factor has 6 significant digits. The exchange rate for the United States Dollar was last updated on Jfrom The International Monetary Fund. The exchange rate for the Japanese Yen was last updated on Jfrom The International Monetary Fund. The United States Dollar is divided into 100 cents. Dollar Spot Exchange Rate (EXJPUS) Observation: May 2023: 137.0532 (+ more) Updated: Units: Japanese Yen to One U.S. Reference rates over last four months - Japanese yen (JPY). The Japanese Yen is divided into 100 sen. stability in the euro area and so preserve the purchasing power of the single currency. The United States Dollar is also known as the American Dollar, and the US Dollar. The United States Dollar is the currency in American Samoa (AS, ASM), British Virgin Islands (VG, VGB, BVI), El Salvador (SV, SLV), Guam (GU, GUM), Marshall Islands (MH, MHL), Micronesia (Federated States of Micronesia, FM, FSM), Northern Mariana Islands (MP, MNP), Palau (PW, PLW), Puerto Rico (PR, PRI), United States (United States of America, US, USA), Turks and Caicos Islands (TC, TCA), Virgin Islands (VI, VIR), Timor-Leste, Ecuador (EC, ECU), Johnston Island, Midway Islands, and Wake Island. The Japanese Yen is the currency in Japan (JP, JPN, JAP).
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