The yen has fallen to its lowest level since the 1990s due to the gap between interest rates with the US; This rate collapsed after the Bank of Japan raised its interest rate from 0.25% to 0.5%. This was reported by Bloomberg Citing sources.
This is the first tightening of monetary policy in 17 years. However, the Fed raised the rate much more significantly to 5.25%. Markets expect the differences in the policies of the Central Banks of the two countries to continue.
After an emergency meeting attended by representatives of the Ministry of Finance, the Central Bank and the financial market regulator, officials stated that the current disastrous collapse in the yen has “speculative foundations”. Finance Minister Shun’ichi Suzuki warned that Tokyo was considering “all options” to prevent its currency from falling.
The agency noted that Japanese fiscal authorities announced the possibility of foreign exchange intervention to stabilize the yen exchange rate for the first time since 1998.
at Asian auctions updated It reached a 34-year high of 151.94 yen.
existed before named The share of national currencies in Russia’s agreements with China.
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Source: Gazeta
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