Yen in 147 zone against dollar in Tokyo after hitting 32-year low

It’s not just the yen that’s sliding. against the dollar. Thanks to high interest rates in the US, EUR and GBP are also going down against USD

This is what the Government of Japan and BOJ want.

It's what the BOJ wants but not the government.

nothing has changed in Japan.

Import costs are higher, feeding into consumer prices.

gintonicToday  05:41 pm JST

Hello poverty if you are paid in yen.

Not really if all your expenses are also in Yen.

Crap...you obviously don't live here , hence have no clue about either the price increases or J- shrinkflation , do you

Current Inflation rates by country:

UK 9.9. Germany 10.0, US 8.2, Singapore 7.5, Canada 7.0, Australia 6.1, South Korea 5.6.

Japan....3.0.

You obviously have no idea what you're talking about in all respects.

quote: Hello poverty if you are paid in yen and want to buy dollars or another foreign currency. If you are not doing the above, nothing has changed in Japan.

This is not true. Energy, resources, many imported goods and food products are priced in USD. As for the UK ($1.65 to $1.15), a collapsing currency beggars citizens and jacks up prices. UK inflation is being driven in great part by the decline in Sterling. Interest rates then go up, loans and mortgages costing more. A declining currency beggars a nation with only a small number of people in a position to gain.

The majority of shares are no longer bought or sold on the basis of company value. Buyers are buying and then selling quickly to scalp gains from transient movements.

And they say it is because of Putin's war.

The mass media need a kick up the backside.

> MumbaiRocks!Today  04:59 pm JST

Hello poverty if you are paid in yen.

Not really if all your expenses are also in Yen.

David Brent - I couldn't care less about how many yen it costs to buy a dollar; zero impact on my life in Japan.

I guess you don't buy food, or fuel, or utilities, or clothing, or appliances, or sporting goods, or the most affected thing: imported goods.

"Let me fix that for you:

Hello poverty if you are paid in yen and want to buy dollars or another foreign currency.

If you are not doing the above, nothing has changed in Japan."

Except for the fact much of what people buy is imported(especially fuel). Or haven't you noticed the significant rise in general prices?

Japan....3.0.

You obviously have no idea what you're talking about in all respects.

3%? Ha ha, yeah right.

Have you been to a store in Japan in the past 6 months?

Year-on-year practically every food item (except rice) is up 10+%, with a wave of additional increases just 2 weeks ago on Oct 1. Clothes, housewares, electric, raw materials are all also up way way more that 3% (lumber is about 80%+ higher than a year ago).

For what its worth, measuring inflation is often idiotic in its calculation methods (doesn't include fuel, and usually not food either) but it does factor in housing costs.

Actually, , real estate (land, rent, commercial space, new homes, etc) is by far the single largest segment in calculating inflation since it represents such a huge part of any economy. Japan's real estate market has been stagnant for decades which is why inflation numbers like that "3%" can technically exist. That huge segment of 0% growth (or more often negative growth) weighs down any other inflation from being evident in the overall calculation.

I live in Japan but my main discretionary expense is travel, especially to see family in the US. Now I am not sure I can bring my family to see their grandparents. Tickets for Christmas cost over 300,000 yen as a starting point. So, yes, I feel poor.

For one ticket? Dam...

This is a problem even for tourism

Anyone who believes that a weak yen isnt a problem is deluded.

You can't boost export when there is nothing to export.

Oh, but there is. Relative to almost everywhere else, as a value for money tourist destination, Japan has only gotten better. Courtesy of an insanely overvalued dollar, the US is the last place you’d want to visit. The double edged sword of dollar appreciation is also effectively pricing US exports out of existence, consigning ever more families to the flames and snuffing out the promising export renaissance started under Biden’s predecessor.

Japan, great for tourists, terrible for workers. Sounds like a Caribbean country really.

DON'T sell your YEN. Hold it until the exchange rate reverses in your favor.

Sell your OTHER CURRENCIES that have appreciated against the Yen.

If you sell your YEN now all you are doing is reducing it's value even more.

If you are living in Japan, selling your Yen for a foreign currency doesn't help you at all since all your expenditures are in Yen.

"Yen in 147 zone against dollar in Tokyo after hitting 32-year low..."

A few banks in Japan offer a very useful solution. Slide your money from Yen to Dollar in an instant. I did this months ago before the Yen went weak. Saved me a lot of frustration.

Not really if all your expenses are also in Yen.

Exactly. I couldn't care less about how many yen it costs to buy a dollar; zero impact on my life in Japan.

Well, without paying attention to some comments of the amateur pocket economists that we have on this page...

As long as you keep earning in yen nothing changes, the problem is if you have yen and change to dollar, in this global inflation crisis the Japanese economy has been one with the lowest rate of inflation in the world..

If you win in yen spend in yen, end of drama..

Japan, great for tourists, terrible for workers. Sounds like a Caribbean country really.

When you don't know about the subject, you can comment many stupid things..

They are still able to hold the dams by subsidizing energy importers by borrowed zero interest money from BOJ. But such manipulation cannot continue forever.

Tell_me_bout_it

What is with Japan and their psychological thresholds?

First it was JPY110, then 115, 120, 125, 130, 135, 140, 145...and now 150. Keep having meetings BOJ. Hope Yen becomes absolutely worthless.

Those who have lived little longer have seen

First it was JPY360 (1971), then 304 (1976), 258 (1980), 205 (1985), 152 (1990), 125 (1993), 102 (1994), 82 (1995), 142 (1998), 132 (2002), 121 (2007), 90 (2010), 79 (2012), 123 (2015), 106 (2016), 114 (2017), 104 (2020), 111 (2021)....

Japanese economy did best when JPY was between 150 - 300.

kurisupisu

Yep, real old timers remember 360 to the dollar!

In those days Japan was exporting finished products hand over fist.

It is normal when your currency is weak, it helps exporting side of economy. When it is strong, it helps importing side of economy (or productions oversea). The current trend of weakening yen will be long term as inflation oversea is seen not easily to be tamed. This will increase domestic production as companies such as Iris Oyama have just announced. In addition, foreign companies will see an opportunity to invest in Japan just like Google, who has recently announced to invest $300B in Japan for a new datacenter.

It is normal when your currency is weak, it helps exporting side of economy.

The reality is Japan has been running record trade deficit for more than a year even with a weakening currency. You can't boost export when there is nothing to export.

Hello poverty if you are paid in yen.

Let me fix that for you:

Hello poverty if you are paid in yen and want to buy dollars or another foreign currency.

If you are not doing the above, nothing has changed in Japan.

The yen continued to face pressure after briefly sliding to 147.66 versus the dollar

"briefly"?

As I type this, the yen has now hit an even lower low of 147.71... and still sinking

More sacrifices for the underpaid SE Asian "trainee" working the farms, factories and construction as they are paid in Yen. They have to send money to support their families back to their home countries and pay off that loan just to become trainees in Japan.

They have to earn more to make up for that lost value of their Yen salary.

Mimicking idiot drunken sailors on shore leave, these spendthrifts throw caution to the wind; piling into shares one day, only to see the markets tank the next. To hell with prudent aforethought. With the American indexes regular Friday retreat now underway, Monday looks set to be another one of those days when foolish Japanese investors and their wishful thinking investments part ways once again. At least it narrows the wealth gap between them and the rest of us.

This is what the Government of Japan and BOJ want. They hope it goes beyond 150 mark! Got to feel for the hardworking people who earn their salary in yen. They work so hard and in the end the value of their yen is mediocre!

@OssanAmerica

you are not in Japan, I take it?

What did you have to eat today?

You paid more for it whatever you had

Yen in 147 zone against dollar in Tokyo after hitting 32-year low

Strange, 32 years ago the Yen was considered to be high.

3rd largest economy’s currency is falling like 3rd world countries’.

Forgot to add, I don't see people on the streets burning trash, tires, and turning over police cars!!? If and when I see that then I know things must have gotten really bad. The only thing I see is Keyboard worries preaching dooms day.

DON'T sell your YEN. Hold it until the exchange rate reverses in your favor.

Foreign workers send their money home. You're telling them to let their family starve ?

Here's a simple fact.

People used to see 1 dollar = 100 yen. A high earner is someone who earns six figures or 100 thousand dollars or 10 million yen.

With today's rate 10M yen is about equal to $66k. And to earn this much you don't need to be in tech or finance in America. You can probably get it flipping burgers.

So if there are smart people in Japan which I believe are plentiful, the smart move would be to go to America and flip burgers.

Yep, real old timers remember 360 to the dollar!

But guess what?

In those days Japan was exporting finished products hand over fist.

Everyone was moving in from the countryside into the big cities.

Most elderly Japanese I have met have done a stint in a factory at one time or another

Japan is contracting not expanding and employment laws are different

And will the yen slide past 150 yen to the dollar next week?

My bet is that it will and going forward to 2023 ?

It is going to be an unenviable place to be

What is with Japan and their psychological thresholds?

First it was JPY110, then 115, 120, 125, 130, 135, 140, 145...and now 150. Keep having meetings BOJ. Hope Yen becomes absolutely worthless.

So it looks like it might reach 150 and it really doesn't mean anything to those who get paid in yen and buy in yen, the only thing they will feel is the inflations of about 2 to 3 % on many items but not all.

So for the average Japanese this is all TRASH Talk.

Right now, the yen is racing downwards through the 148 level, possibly to hit the 150 yen level in New York trading. Deliberate government policy to destroy the currency. Good job for them that the J people never complain.

With no pay rises and the real inflation rate reckoned to be at least 12%, plus shrinkflation, plus the yen's collapse never ending, something has to give. Only the tourists are happy as they find everything for them as cheap as in a third world country.

Will also deter the usual army of english teachers coming to Japan since their earnings in Dollars will be so low. Nobody will be interested.

Expect the Yen will eventually hit 360 and beyond around 2023.

Many pro-Abe enthusiasts (likely Moonies) around here and in Japan keep defending the weak Yen, while Japanese people are insulting the LDP elites and Abe everywhere.

Many arguments surround the fantasy of Japan's resurgence in the world's workshop due to the weak Yen. This is improbable because Japan's working population is low, Japan's technologies and finances are weak, and Japan's heavy reliance on importing materials but Yen makes it more expensive to do so.

Defenders of Abe and LDP should wake up!

More sacrifices for the underpaid SE Asian "trainee" working the farms, factories and construction as they are paid in Yen. They have to send money to support their families back to their home countries and pay off that loan just to become trainees in Japan.

Unfortunately for Japanese SMEs that employ foreign trainees, the weak Yen will deter underpaid slaves from Southeast Asia to come to Japan in near future.

Without affordable foreign slaves, Japan is economically screwed.

Japan and their fans won't admit or confess - the Japan 3-year unexplainable and irrational travel ban of a G8 nation hurt their economy. Abe and Suga and Kishida stubbornly kept the travel ban in place ignoring the harm it was causing to global businesses and FX moves. Now here we are - 147 yen and dropping.

Fortunately I get my salary now in US Dollars. Nobody wants the pathetic poisoned yen now. 160 to the Dollar is the next support level for the yen, coming soon. Thank god nobody holds the pathetic yen anymore.