Since the beginning of this year, the Japanese yen exchange rate has continued to fall, The pace of depreciation of the Japanese yen has not stopped. Especially since mid-June, the Japanese yen has successively hit historic lows. On June 21, 2022, the Japanese yen The exchange rate broke through 5 again!
On the afternoon of June 20, Japanese Prime Minister Kishida Fumio and Bank of Japan Governor Kuroda Haruhiko held talks at the Prime Minister's Official Residence. The two parties focused on exchanging views on recent foreign exchange market trends.
Kishida said that the continued depreciation of the yen is worrying. Governor Kuroda also believed after the meeting that the depreciation of the yen will bring various uncertainties to the company's business plan.
Although the depreciation of the yen worries the government, it is definitely a good thing for tourists.
The yen has been depreciating all the way. Many high-priced Japanese goods in previous years have become relatively cheaper with the sharp depreciation of the yen, attracting a large number of foreigners to go crazy and "buy" in Japan.
The Japanese government has fully opened the entry of foreign tourists from June 10. Although it is limited to tour groups, many foreigners still flock to Japan and start the buying and selling model.
Nowadays, the streets of Akihabara are full of foreigners carrying shopping bags. Japanese media said that for many foreigners, Japan is now a country of low prices, and it is a good time to buy low prices.
Due to the depreciation of the yen, a series of Apple products have also been affected. A foreign tourist said that Apple products in Japan are cheaper than those in the United States.
Currently, the price of the 128G version of Love Crazy 13 in Japan is 98,800 yen (equivalent to approximately 4,800 yuan), and the average selling price outside Japan is 126,433 yen (equivalent to approximately 6,200 yuan).
I have to say that it is quite cost-effective in comparison.
This foreign guy bought an Apple watch and ipad pro.
An international student from the United States bought a pair of Apple headphones. She also said that everything is cheap and there is no need to worry about rent.
This Mexican living in Japan: " A figure only costs about 1,500 yen. I feel that Japan has become a very low-price country. I bought 50 figures today."
in During the exchange with reporters, the young man kept repeating one sentence: " is really cheap, really cheap... "
With the yen plummeting, many foreigners in Japan are A shopping craze began: everything from daily necessities to houses.
And with the depreciation of the yen, not only various commodities were bought crazily, but even Japanese real estate was targeted by foreigners.
As the yen exchange rate continues to fall, Japanese houses are becoming more and more scarce, more and more customers are consulting Japanese real estate. Some overseas customers do not need to go to Japan in person. Japanese real estate companies will introduce the internal environment through videos. Customers make their selections and decide to purchase a house directly online.
There are even many rich people who took advantage of the cheap yen to buy an entire building directly.
For Japanese people, whether the yen depreciates or not has no impact on their home purchases, but for overseas home buyers, buying a house when the yen depreciates is equivalent to a big discount.
Nowadays, the depreciation of the yen has given many people a taste of the sweetness. In order to further promote economic recovery, the Japanese government has decided to implement a new travel support discount activity from July. It also plans to further slow down the number of daily arrivals next month.
There is no doubt that this round of yen depreciation is very different from previous years, because the depreciation of the yen in previous years has been beneficial to Japan’s economic development, and the Bank of Japan will not restrain the depreciation of the yen, which is beneficial to the export of many economic industries and improves Japan’s domestic goods. competitiveness in the world.
However, this year, as commodity prices rise and supply shortages occur at the same time, the negative impact of the weak yen is increasing, which is completely different from the past.
Therefore, the depreciation of the yen coincides with poor market conditions, and excessive and disorderly fluctuations in the exchange rate will damage economic and financial stability. Therefore, the sharp decline in the yen exchange rate has deepened the worries of the Japanese people.
A survey by "Teikoku Databank, Ltd.", Japan's largest corporate credit investigation company, shows that Japanese companies can only pass on 44% of increased costs to customers on average, but 15% of the companies surveyed said they were unable to transfer costs to On the customer.
Moreover, Japan’s import prices rose by 43.3% in May this year, while export prices only increased by 16.7%. The terms of trade index , which is calculated by dividing export prices by import prices, reached an all-time low.
As a resource importing country, that is, Japan needs to spend more to import the same amount of raw materials, which means that Japan's income is flowing overseas...
If the yen continues to depreciate, Japan's prices may continue to skyrocket. Like Japan In an aging society, many tragic things may happen.
