The Japanese yen fell against the dollar to its lowest level since 1990 – Kommersant
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The Japanese yen reached a 34-year low against the dollar in trading today, March 27. This comes about a week after the Bank of Japan raised interest rates after years of loose monetary policy, AFP reports.
The dollar reached 151.97 yen, its lowest level since 1990. It later corrected to 151.35 yen. The fall accelerated amid a statement by Bank of Japan board member Naoki Tamura that the authorities will continue to scale back their ultra-loose monetary policy.
The Central Bank of Japan on March 19 for the first time in 17 years raised interest rate. Financial authorities have ended a decades-long policy of negative interest rates.
Read about the situation in Japan in the material “The Japanese Prime Minister became the first from the end”.
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