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Yen reaches 40-year low against dollar
The Japanese yen has fallen to its lowest level since 1986 against the dollar, with the Japanese currency declining by 0.1% to 161.96 yen per dollar, surpassing the 161.95 yen level reached in July 2024. This occurs despite the efforts of the Bank of Japan to raise interest rates to 1%, the highest level since 1995. The Japanese government confirmed its readiness to take decisive action to address speculative movements. While a weaker yen increases profits for exporting companies and boosts the stock market, it also raises the cost of imports and energy for consumers.
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