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Japanese yen rate drops to its lowest against dollar in 37.5 years

The main factor of the continuing yen drop is the remaining gap with discount rates of Western countries, where these were lifted to combat inflation

TOKYO, June 26. /TASS/. The Japanese yen rate declined to the record low level against the dollar over the last 37.5 years.

According to data of electronic currency trading, the dollar climbed to 160.39 yen, the Nikkei newspaper said.

The main factor of the continuing yen drop is the remaining gap with discount rates of Western countries, where these were lifted to combat inflation.

In April - May 2024, the Japanese Ministry of Finance performed the currency intervention to keep the national rate from falling against the US dollar. The yen rate moved up to 155 yen per dollar but no significant results were achieved in the long term.

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