Reported 11 months ago
The US dollar continues to rise, with the Japanese Yen depreciating against the US dollar, nearing 160. Taiwan Bank's Japanese Yen cash selling price opened at '0.2063' on the morning of the 24th, marking a 34-year low. Comparing this to the exchange rate at the beginning of the year on January 2nd at 0.2217 yuan, exchanging 100,000 New Taiwan Dollars will yield 33,000 additional Japanese Yen, equivalent to saving almost the cost of four Tokyo Disneyland tickets for a family of four. The Japanese Yen to US Dollar exchange rate approached 160 due to market expectations of a potential delay in the US Federal Reserve's interest rate reduction. The Japanese government intervened in the market after nearing the 34-year low on April 29 of 160.17 Japanese Yen. The Japanese Yen to US Dollar exchange rate fluctuated around 159.68, while the New Taiwan Dollar to US Dollar exchange rate opened at 32.38 yuan today, down by 1.1 point. If necessary, Japan is prepared to intervene in the forex market 24/7, as mentioned by the highest official in charge of foreign exchange affairs, Kanda Masato. There were minor fluctuations in the Yen to US Dollar rate after Kanda's statement.
Source: YAHOO