Reported 12 months ago
On June 28, 2024, the Japanese Yen depreciated over 13% for the year, falling below the 161 mark against the US Dollar and reaching a 38-year low. Atsushi Mimura was appointed to take over international affairs as the Deputy Finance Minister, replacing Masato Kanda. The government aims to stabilize the yen's excessive fluctuations caused by rapid devaluation. Despite verbal warnings from Japanese officials, including intervention plans, the yen remains weak due to significant US-Japan interest rate differentials.
Source: YAHOO