The exchange rate of the Japanese national currency against the dollar fell to a 34-year low for the first time since April 1990. This was reported by Japan Times.
It is stated that at one point one dollar cost 160 yen.
The publication notes that the main factor in the depreciation of the Japanese currency is the persistent gap with Western countries, where interest rates have been increased to combat inflation. Japanese authorities have been encouraging the economy to reach a 2% inflation target for years. To achieve this, the economy was stimulated by, among other things, low interest rates.
On March 19, the Japanese regulator abandoned negative interest rates for the first time in many years, bringing it to 0 percent to 0.1 percent; But according to experts, the pace of further increases will be insignificant.
Before that, Albert Koroev, head of the stock exchange experts department of BCS World of Investments, was commenting on the decline in the yen exchange rate on the Tokyo Stock Exchange: statedHe said Russians should not buy Japanese yen.
previously economist warned Russians buying large amounts of dollars and euros.
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Source: Gazeta
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