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Search resuls for: "Shinji Kitamura"


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☆ Japan intervened, buying yen in foreign exchange market Friday
  + stars: | 2022-10-24 | by ( Shinji Kitamura Yoshifumi Takemoto | Shinji Kitamura | Yoshifumi Takemoto | ) www.reuters.com   time to read: +3 min
Register now for FREE unlimited access to Reuters.com RegisterAfter the dollar rose to 151.94 yen , its highest since 1990, the intervention drove the greenback down more than 7 yen to a low of 144.50 yen. The Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (1235 GMT), one source said. Japan's top currency diplomat, Masato Kanda, also declined to say whether the MOF had intervened. Many market players doubt whether Tokyo can reverse the yen's downtrend with solo intervention, even with Japan's $1.33 trillion in foreign reserves. Japan bought a record 3.6 trillion yen ($24 billion) in the September action, Tokyo money market brokerage firms estimated.
☆ Japan intervened, buying yen in foreign exchange market late Friday -sources
  + stars: | 2022-10-22 | by ( Shinji Kitamura Yoshifumi Takemoto | Shinji Kitamura | Yoshifumi Takemoto | ) www.reuters.com   time to read: +2 min
After the dollar rose to 151.94 yen , its highest since 1990, the intervention drove the Japanese currency down more than 7 yen to a low of 144.50 yen. Register now for FREE unlimited access to Reuters.com RegisterThe Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (1235 GMT), one source said. Speaking to reporters shortly after the yen spiked, Japan's top currency diplomat, Masato Kanda, declined to comment on whether the MOF had intervened, according to Jiji news agency. Many market players doubt whether Tokyo can reverse the yen's downtrend with solo intervention, even with Japan's $1.33 trillion in foreign reserves. Japan bought a record 3.6 trillion yen ($24 billion) in the September action, Tokyo money market brokerage firms estimated.
☆ Explainer: Why the weak yen isn't a big boost for Japan Inc anymore
  + stars: | 2022-09-22 | by ( Satoshi Sugiyama Maki Shiraki | Satoshi Sugiyama | Maki Shiraki | ) www.reuters.com   time to read: +3 min
Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. Almost a quarter of Japanese manufacturers' production is carried out overseas, according to the latest trade ministry data. The weak yen drives up the cost of acquiring businesses overseas, although that could be less of a concern for many cash-rich Japanese firms. At the same time, the weak yen makes Japanese companies cheaper targets for foreign buyers. For retailers, the weak yen has been particularly painful, as it drives up costs, including for energy and food.
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