Monday, July 22, 2024
HomeWorld newsYen takes hit as ¥1 trillion monthly flows abroad after NISA adjustment

Yen takes hit as ¥1 trillion monthly flows abroad after NISA adjustment

Savers can help push down the yen’s value by benefiting from changes in tax-free account rules and by betting heavily on foreign funds.

So far this year, these individuals have poured about ¥1 trillion ($6.2 billion) a month into international investments, which analysts say has shaved ¥0.5 to ¥1 per dollar off the exchange rate each month.

The yen is currently trading around ¥161 per dollar and remains weak as the Bank of Japan keeps interest rates low and continues to talk about reducing bond purchases. The yen has fallen by more than 15% in the past year.

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