Japanese Yen Exchange Rate Hits 34-Year Low: Citizens Rush to Money Exchange Shops

Many citizens took advantage of the falling yen exchange rate and went to money exchange shops to exchange for yen. (Photo by Li Langqiao)

arriveTravel JapanNote that the Bank of Japan announced the results of its interest rate meeting on April 26, announcing that it would keep interest rates unchanged and decided to continue buying government bonds to counter the risk of a hike sudden increase in long-term interest rates. In January, the central bank raised its consumer price inflation forecast for fiscal year 2024 to 2.8% from 2.4% last year; the forecast for fiscal year 2015 and fiscal year 2016 was both 1.9%.

The market is paying attention to the movement of the yen exchange rate, because it has reached the level of the previous intervention and there is no government intervention yet. The yen hit a 34-year low against the US dollar, with 1 US dollar rising to 155.75 yen and trading at 155.6 earlier;

There was a low view of 4.946 Foreign reports accuse the Japanese authorities of meddling in the market

【Updated on April 29th】The exchange rate of the Japanese Yen fell to the lowest level today (29th). around 0.5% and hit a 34-year low. As for the exchange rate of the Japanese yen against the Hong Kong dollar, it has further tested lower As of press time, it fell to 4.980 per 100 yen against the Hong Kong dollar, reaching a low of 4.946. The change in the exchange rate of the Japanese Yen against the US dollar at this time is – 159.34 Yuan.

However, the exchange rate of the Japanese yen rose sharply in the afternoon, and was last at 156.88 Yuan against the US dollar. %, and was last at 5.024. Foreign sources quoted traders as saying that the Japanese authorities intervened in the market to buy the yen Analysts earlier indicated that the Bank of Japan would only intervene in the market when the yen fell to 160 yen per US dollar.

As for the currency exchange shop in Sheung Wan, today it was filled with many people who came to take advantage of the low price for exchanging Japanese yen. Among them, Mr. Huang, who prepared an exchange of HKD 60,000, was one of them. He said that he has been living in New Zealand for a long time and recently stayed in Hong Kong for a few weeks because of business Today, the exchange rate of the Japanese yen fell and he decided 60,000 Hong dollars To exchange Kong. Mr. Huang announced that he plans to go to Japan in September, and this exchange to prepare for him has made more money.”

Another citizen, Mr. Li, plans to exchange 200,000 yen. Mr. Li traded money earlier at the exchange rate of 5.12 and was asked if he felt “bottom”. I did not feel “bottom.” “It’s because of the small difference.” If you want to sing about hundreds of mosquitoes, you can.”

Japanese yen exchange rate movement｜ The Japanese yen fell again and the BOC exchange rate fell as low as 4.985

【Updated on April 27th】After the Japanese yen fell against the Hong Kong dollar yesterday (27th), the exchange rate fell further. respectively, while those. The smallest stock dividend was 5.016. Analysts pointed out that since the Bank of Japan kept interest rates unchanged, the decline of the yen has not stopped a short rebound to the level of 152, which is 5.1 per 100 Hong Kong dollars. The latest price per dollar is around 158.3 Yuan.

[Air ùrachadh aig 18:30 air 26 Giblean]When the Japanese yen hit a new low, many Hong Kong residents took the opportunity to exchange Japanese yen. Mr. Liang, the person in charge of Fade Bird Exchange Shop, told “am730” that due to the continued weakness of the yen, the number of people exchanging yen in one day on Friday (26th) increased by about 30% compared to that. until yesterday, with each person exchanging an average of about HK$15,000.

【Updated at 15:00】The Bank of Japan announced the results of its interest rate debate and kept the benchmark interest rate at 0 to 0.1%, in line with market expectations. After the results of the Bank of Japan interest rate meeting were released, the yen immediately fell to 156 levels against the US dollar, and the yen every 100 yen against the Hong Kong dollar also fell below the “5” level. As of 3pm local time, the exchange rate was 156.5 yen per US dollar and 4.98 Hong Kong dollars per 100 yen, which fell below the “5-digit” level.

【Updated at 12:12】The latest exchange rate shows that the 100 yen against the Hong Kong dollar fell below “5 cents” and was reported at 4.99 cents;

Tokyo core inflation eases to 1.6% in April

Additionally, the core consumer price index (CPI) in Japan’s Tokyo region rose 1.6% year-on-year in April, which was significantly slower than the 2.4% increase in March and well below market expectations of 2.2%. also below the central bank’s 2% inflation target. During this period, the increase in service prices decreased to 1.6% year on year, due to the Tokyo Metropolitan Government’s decision to make some tuition fees free.

Inflation excluding new food and fuel costs also fell to 1.8%, the slowest rate of growth since September 2022.

Further reading:Exchange Japanese Yen🇯🇵Click first for the best results? Compare the latest exchange rates at bank exchange shops

The original article was published on AM730 https://www.am730.com.hk/Finance/Japanese yen exchange rate movement – The Bank of China exchange rate reversed in the afternoon and rose 5 yuan – Long queues at exchange shops – Citizens exchanged 600,000 yen for back- support – Continuous Updates -/447965?utm_source=yahoorss&utm_medium = reference