Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO : Nearly 64 per cent of Japanese companies see the yen's recent declines as having a negative impact on their profits, a survey by private think tank Teikoku Databank showed on Friday.
About half of the companies surveyed saw 110-120 as the appropriate level for the dollar/yen pair, much stronger for the yen than recent levels around 156, the survey showed.While a weak yen gives exports a boost, it has been a headache for policymakers as it hurts the economy by inflating the cost of importing fuel and raw material.
After the yen hit a 34-year low of 160.245 per dollar on April 29, Japanese authorities are suspected to have spent more than 9 trillion yen intervening in the market to prop up the currency. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
Source: News Formal (newsformal.com)
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