Currency depreciation is not only in Japan! [Economy column from Asia]
2024-05-12 00:44:00
In the foreign exchange market, the yen is currently at a record low level, reaching the 160 yen level to the dollar. Finance Minister Kanda of the Ministry of Finance, who is in charge of monetary policy, hinted at further market intervention, saying, ``We are ready to do it at any time, and to put it in extreme terms, we might do it today or tomorrow.'' (May 9) , keeping market movements in check. Japan is not the only country affected by this currency depreciation. In a situation where the dollar can be said to be the dominant currency, Asian countries that once experienced a currency crisis are also starting to defend their currencies. Let's explore what lies beyond the currency devaluation. (Asia Bureau Reporter Neil Kato)
