Japanese Yen Plunges, Drops Below 160 After Nearly 38 Years, Prompting Tourism Industry to Implement Dual Pricing Strategy

Reported 9 months ago

The Japanese Yen exchange rate has plunged below 160, hitting the lowest point in nearly 38 years, attributed to the Federal Reserve's indication of not rushing to cut interest rates, causing investors to continue operating calmly. This depreciation of the yen has led to a surge in inbound tourism driven by cheaper yen, with some facilities and restaurants implementing dual pricing where locals pay the original price while foreigners pay more. The yen's sharp decline has raised concerns, with the Japanese government stating they will take necessary measures to address the situation.

Source: YAHOO

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