TODAY.AZ / Business

Exchange rate of Japanese currency against dollar fallen to its lowest value

29 April 2024 [21:42] - TODAY.AZ

The exchange rate of the Japanese national currency against the dollar has dropped to its lowest value in 34 years, Azernews reports.

According to electronic currency trading data, for the first time since April 1990, the dollar at some point began to cost more than 160 yen.

The main factor in the continued decline of the yen remains the persistent gap in interest rates with Western countries, where they were raised to combat inflation. In Japan, which has been struggling with the negative effects of deflation for decades, the authorities and the regulator are set to achieve the 2% inflation target, for which they stimulate the economy, including through low rates. This makes investments in assets denominated in dollars and euros more profitable than investments in products denominated in yen.

URL: http://www.today.az/news/business/247716.html

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