Japanese Yen Slides to 34-Year Low, Hits 158 Against the Dollar

Apr 27, 2024 | News On Japan

TOKYO - In a significant movement in the foreign exchange markets, the Japanese yen has once again depreciated, crossing the 158 mark against the U.S. dollar. This level marks the weakest the yen has been in approximately 34 years, signaling ongoing economic pressures and potentially major shifts in Japan's financial landscape.

Despite Japan's central bank raising interest rates for the first time since 2007, the rates remain very low compared to other developed nations, particularly the U.S., where aggressive rate hikes have made the dollar more attractive to investors. Additionally, the low interest rates in Japan fail to stem the yen's fall, as higher U.S. rates offer better returns for investors

Source: TBS

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