2024-04-26 22:11:42
Japanese Finance Minister Shunichi Suzuki said he was ready to intervene to stop the sharp fall of the yen, which stood at 155 yen per dollar for the first time in 34 years.
According to AZERTAC, citing foreign media, the Japanese currency has overcome the barrier of 155 yen per dollar, despite recent changes in the country’s monetary policy, which for years introduced negative interest rates to try to control inflation, Day.Az reports.
“We are concerned about the fall of the weak yen,” Suzuki said, adding that combating rising prices was a priority for the Japanese government.
The yen has depreciated sharply against the dollar, among other currencies, largely due to interest rate differences between the two countries. This trend has accelerated in recent weeks as the US central bank is not expected to start cutting rates anytime soon.
The Japanese government last intervened in this process in October 2022, when the Japanese currency approached 152 units against the dollar.