Reported about 1 year ago
As reported by Nikkei News on June 30, 2024, the Japanese Yen has hit a nearly 38-year low against the US Dollar, leading to higher prices for imported goods and energy. This has resulted in the Japanese Yen's purchasing power reaching an all-time low, only a third of its peak period. Experts estimate that Japanese consumers now need to spend an additional ¥90,000 (approximately NT$18,200) annually on related products. The yen also weakened against other currencies, hitting historic lows against the Euro and Australian Dollar. Despite the government's efforts to combat price increases, households are facing increased expenses, potentially dampening consumer spending and affecting the economy.
Source: YAHOO