Japanese yen Today, driven by the speech of the Bank of Japan president, at around 3 pm (Japan time), USD/JPY suddenly broke through the 126 yen mark, the lowest value since May 17, 2002. The Japanese yen has also continued to depreciate significantly against the RMB. Maybe the era of 100 yen to 4 yuan in RMB has come again?
can currently exchange 100 yen for 5.04 yuan.
Today, Bank of Japan President Kuroda spoke at the 97th Trust Conference and said that he will continue to adhere to strong financial relaxation policies; at the same time, Japanese Cabinet official Matsuno also said that the yen exchange rate is determined by the market. The speeches of these two people were regarded by market speculators as the Japanese government's tolerance of the continued depreciation of the yen. Therefore, speculators rushed to suppress the yen this afternoon, lest they could not catch up with this "feast" of yen depreciation, causing the yen to be exchanged for the US dollar. , breaking through 126 yen in an instant. The lowest value of
reached 126.314 yen.
At around 5 pm (Japan time), Japanese Finance Minister Suzuki’s speech made the crazy Japanese yen tighten its pace of depreciation. Suzuki said: "The sudden fluctuation of the Japanese yen exchange rate is a very big problem."
The implication is that the Ministry of Finance does not rule out intervening in the foreign exchange market at the appropriate time and selling U.S. dollars to buy Japanese yen. The last time Japan’s Ministry of Finance intervened in the yen exchange rate was on September 15, 2010. However, at that time, 1 U.S. dollar could be exchanged for about 77 yen, which was to avoid excessive appreciation of the yen.
10,000 RMB can be exchanged for about 198,000 yen.
The depreciation of the yen is a great opportunity for international students and people going to Japan for business or tourism. Today, 10,000 yuan can be exchanged for about 198,000 yen.
For international students, The average tuition fee for Japanese private universities is around 1 million yen. If you exchange it today, it will only cost about 50,500 yuan. This is the highest value of the RMB against the Japanese yen since 2015.
I also went to exchange some Japanese yen just now. The RMB in the Bank of China card can be exchanged for Japanese yen directly at the Seven Bank ATM . The exchange rate of and is roughly 5.05, and the handling fee for converting 100,000 yen is 25.49 yuan. It's very cost-effective.
(The picture on the left shows the trend of USD/JPY since February, and the picture on the right shows the trend of RMB/JPY. It can be seen that the Japanese yen has been depreciating wildly since the end of February, regardless of whether it is converted to US dollars or RMB.)
The Japanese yen is the lowest How much will it depreciate?
Watanabe, who has been paying attention to the foreign exchange market all year round, said that if the Japanese Ministry of Finance does not intervene, the value will roughly depreciate to 130 yen (USD/JPY). However, he said that the foreign exchange market is changing rapidly, can it depreciate to 130 yen? It depends on whether speculators start shorting Japanese yen, and whether the Japanese government intervenes in the foreign exchange market, etc... So this view is for reference only and cannot be used as a basis for buying or selling foreign exchange such as Japanese yen.
Takena (pseudonym), who has lived in Japan for more than 20 years, said that this is the second time he has encountered the yen devaluing to 5 or below in so many years in Japan. He has been exchanging RMB for Japanese yen these days. He said: "Recently I wanted to buy a building and build in one house, so I converted all the RMB in my hands into Japanese yen. For me, the exchange rate is very good, and it's a good time." (This article is personal only Opinions do not represent the views of Dongying Free Trade Official Account and are for reference only. There are risks in the foreign exchange market, so investment should be cautious)
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