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I love this decoration in the sushi
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Hi there, this is Emma Ockerman from Nikkei Asia’s audience engagement team. Here’s an excerpt from a story we posted today, on a topic I see being discussed here often.
*TOKYO — Japanese households face a 90,000 yen ($560) increase in their yearly expenses from higher prices for food and energy imports, one estimate shows, as the country’s weak currency drains purchasing power.*
*The yen depreciated as far as 161.20 to the U.S. dollar on Friday, the lowest in over 37 years. Japan’s government*Â [*said on Friday*](https://asia.nikkei.com/Business/Markets/Currencies/Japan-appoints-Atsushi-Mimura-as-top-currency-diplomat-as-yen-falls)Â *it will replace top currency diplomat Masato Kanda, but this announcement is expected to have limited impact on the market.*
*The yen’s recent fall appears more linked to import companies and institutional investors buying up dollars late in the April-June quarter.*
*Ripples from this push to buy dollars and sell yen are spreading to other currencies. The yen fell to the 172 range against the euro on Friday, breaking the record low set at the end of April. The yen is also at its lowest against the Australian dollar since 2007.*
*The broad decline makes purchasing overseas goods — such as food and energy — more expensive in yen terms.*
*Saisuke Sakai, chief economist for Mizuho Research & Technologies, estimates that the average cost burden per household will rise 90,000 yen from last year if the Japanese currency stays around 160 to the dollar, even with measures to combat rising prices.*
I eagerly await the slew of people to come in and say that this is fine and doesn’t affect them at all
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Hmm I mean, for any projects I do in other currencies, yay, I guess?
On the other hand, probably means more price increases in my industry across the board, again.
Hi, complete noob here, can someone explain like I’m five how exchange rates are determined? What is causing the yen to depreciate in value and what needs to happen for it to rise back up?
so… a Y7500 increase per month. Meanwhile, any company selling overseas is *making* more than it did previously.
Last time I checked, Japan exports. Like, a lot.
Pokemons seriously.
I could really go for a ramen bowl right now