Due to the sharp depreciation of the yen in the foreign exchange market, foreigners working in Japan complained. If the salary collected in Japanese yen is converted into the domestic currency, it will shrink significantly. They have more opportunities to remit money to their families living abroad and return to their families regularly, and have more opportunities to return to China than the Japanese. If the yen continues to depreciate, it may also affect the talent acquisition strategy of Japanese companies and other companies.
Ramani Pratap (43 years old), who serves as the head of the IT department in a Japanese company, sighed: "Affected by the depreciation of the yen, it is not worth it to exchange for rupees for . I don't want to return to China at the current exchange rate." Since about half a year ago, he has reduced the remittances to his family living in India, and has been asking his family to spend the money he sent before the yen depreciates so much. The exchange rate of Indian rupee to Japanese yen was around 1 rupee to 1 yen 50 yen 1 year ago, but now it is around 1 rupee to 1 yen 77 yen. This year it has risen 18%.
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 A man in his 30s who works in a foreign financial institution also sighed: "If it is exchanged for (Malaysian currency), his salary will be reduced by about 15%. Currently, the exchange rate of ringgit against the Japanese yen is about RM1 to 31 to 15, while a year ago it was about RM1 to 26 to 70.
Michelle (42 years old) from Philippines gives mothers, relatives and sons who live in their motherland every month. Tuition fees. Confirm the exchange rate every day and choose to exchange the Japanese yen with Philippine peso . But recently the yen depreciates, Michelle said, "The amount of money that can be remitted is reduced, which is very headache."
Michelle said in disgrace: "The impact of the new crown epidemic has finally decreased. I went back to the Philippines twice this year, but when I returned to China in January and when I returned in June, the exchange rate level was very different." For foreigners working in Japan, the depreciation of the yen and the appreciation of foreign currencies not only affects the remittance to their mother country, but also The cost of returning home.
Pratap, who returned to India once a year before the COVID-19 pandemic, said with a headache, "I want to go back this year, but the cost of going back increases." The main reason for the surge in air ticket ticket prices is the increase in fuel costs caused by the rise in crude oil price , but it is not unrelated to the depreciation of the yen. If the expenses spent in staying in the local area are exchanged for yen, it will also increase significantly compared to before.
Hair hunting is sent to Mitsubishi UFJ Morgan Stanley Securities Li Zhixiong, chief economist of the department, has more and more recruitment information for foreign companies. As the yen depreciates and the increasing charm of converting foreign currency wages into yen, foreign companies have begun to find ways to recruit international talents living in Japan.
As the yen depreciates, it is natural for people to rethink the meaning of working in Japan. The Japanese government also wants to attract high-end talents from abroad. Li Zhixiong of Mitsubishi UFJ Morgan Stanley Securities said, "High-end talents who can work around the world may demand better treatment. Japan may fail in the competition for talent acquisition." In fact, there are voices saying: "If the yen continues to depreciate in the future, it may be best to consider working in other countries" (a man in his 30s from China's IT industry).
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