Reported 8 months ago
The Japanese Yen continues to depreciate, with Taiwan's Bank of Taiwan selling the yen at a record low of '0.2071' this morning, marking a new low in 34 years. The yen's exchange rate has dropped significantly compared to the beginning of the year, allowing an additional 31,799 yen for every 100,000 Taiwanese dollars exchanged. The weakening yen has led to some restaurants in Japan offering 'double menus,' with higher prices for foreign tourists and regular menus for local customers, sparking dissatisfaction among tourists. The primary reason for the yen's depreciation is attributed to the substantial interest rate difference between Japan and the US, with the Fed's benchmark rate at 5.25% to 5.5% and Japan's central bank rate at 0% to 0.1%, according to Min Joo Kang, a senior economist at ING Japan and Korea.
Source: YAHOO