Apr 27, 2024
Weak yen = price hikes here
I've seen a lot of discourse recently about the weak yen compared to a lot of other currencies, particularly in relation to the US dollar. 1 USD is buying about 158 yen at the moment, which is the yen's worst rate in 34 years – it's wild to think about that.
Now, a lot of the time I think to myself that while I'm living here, I don't really notice the impact of the yen being weak. If I was sending money abroad I'm sure I'd feel it, but I haven't really considered what implications it has domestically.
Pic via Public Domain
I read an article this morning, though, and it changed my perception a bit. The article mentioned that the weak yen is going to cause hikes to power prices, because Japan buys its fuel in US dollars. At a time when inflation is hitting all corners of the globe, the idea of paying more for power bills (when they already seem high to begin with) isn't great.
Are you personally noticing any impacts of the weak yen?
2 Comments
TonetoEdo
on Apr 27
Recent guests from the US tell me it's great because their dollars go very far. I'm getting clobbered with inflation and dreading electricity and LP gas price hikes I imagine kick in soon...
genkidesu
on Apr 27
@TonetoEdo It's the same for visitors I have from Australia, they are loving it because 1 Australian dollar is basically 100 yen at the moment. Their money definitely stretches a lot further, with dining out something they mention specifically.