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| Above, Tokyo's Akihabara "Electric Town." The falling yen makes Japanese goods more affordable on the export market. Photo by Armand Vaquer. |
The falling yen against the U.S. dollar and other international currencies are making Japanese goods and travel to Japan more affordable for foreigners.
According to Hong Kong's The Standard:
With inflation ever-present and with workers complaining of minimal pay rises, it's nice to know that some things are cheaper - provided they are made in Japan.
With the yen falling rapidly against the US dollar, fruits, wheat, snacks and other goodies imported directly from Japan are now cheaper. What's more, a five-day trip to the Land of the Rising Sun is now HK$1,000 less, or a drop of 10 percent.
The yen has depreciated by 15 percent since November when the market tipped Shinzo Abe to regain the premiership and implement more aggressive monetary easing policies.
It breached the 94 mark against the greenback recently and 100 yen is now worth just HK$8.25, compared with more than HK$10 a few months ago.
If the trend of the dollar rising against the yen continues, we might be seeing ¥100 per dollar by April.
To view the full article, go here.
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