Japan to curb Yen's rise

The Japanese yen has hit a new 15-year high against the dollar, despite hints that the government will take action to curb its strength.

It rose to 83.4 yen versus the dollar, adding to concerns that the currency's rise was holding back exports and the general health of the economy.

Japan's finance minister had dropped a strong hint on Wednesday that it would act to push the yen lower.
But investors ignored the comments, and continued to push the yen higher.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

Have a Story? Send Us a tip
arrow up