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Monday, December 1, 2014

Dollar Hits 119 Yen For First Time Since August 2007

Above, teacup balconies in Kappabashi (Kitchen Town), Tokyo. Photo by Armand Vaquer.

Demonstrating that the time is right for Americans to take the plunge in visiting Japan, the dollar briefly reached 119 yen for the first time since August 2007.

According to the Nikkei Asian Review:
TOKYO (Kyodo) -- The U.S. dollar briefly climbed into the 119 yen zone, a level unseen for seven years and four months, in Tokyo on Monday as falling oil prices dragged down the currencies of resource-rich countries and encouraged money flows to the U.S. currency. 
     At 5 p.m., the dollar fetched 118.73-74 yen compared with 118.56-66 yen in New York and 118.21-23 yen in Tokyo at 5 p.m. Friday. It moved between 118.55 yen and 119.03 yen during the day, changing hands most frequently at 118.89 yen.
This enables American tourists to get more yen for each dollar exchanged, making a trip to Japan more affordable. This surely won't last forever, so going now would be a smart move.

Japan is seeing record-breaking numbers in foreign tourists. Japan has already topped its 2013 10 million visitor record.

To read more, go here.

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