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Friday, September 5, 2014

Dollar Hits Near 6-Year High Around 105.70 Yen

Above, the Sensoji Pagoda in Asakusa, Tokyo. Photo by Armand Vaquer.

If you have been sitting on the fence about taking a trip to Japan, it looks like now's the time to head on over.

According to the Mainichi Shimbun, the U.S. dollar briefly hit 105.70 yen in Tokyo trading today before settling down at around 105.32-33 yen in the afternoon (the closing numbers aren't available at this time). The last time the dollar reached near 105.70 yen was six years ago.

This bodes well for Japan-bound travelers as they will be able to get more Japanese yen in exchange. The amount, as I've mentioned before, is generally only available to "high rollers" and corporations. But when the dollar rises for them, it also rises for ordinary people.

This, of course, makes a trip more affordable and travelers can purchase more goods.

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