32-year historical low: Japanese yen crosses 150 against the dollar

Ahmedabad, on 20 October 2022, Thursday

The Indian currency hit an all-time low of 83 rupees per US dollar for the first time in history. However, the pressure is not only on the Indian rupee. After the inflation in the world's largest economy and now the condition of the labor market is also deteriorating, the strength of the American dollar is being seen in the fear of the Great Recession in the world, including the United States. The US Dollar crossed the 150 level against the Japanese Yen today while the dollar is reaching new historical highs against all the world's top currencies.

According to the statistics of the forex market, the yen has reached the level of 150 against the dollar on Thursday. The yen-dollar exchange ratio hit a new 32-year low. The reason behind the depreciation of Japan's currency, the yen, is the monetary policy maintained by the country's central bank despite the global and domestic slowdown. As the Bank of Japan has not made any significant change in monetary policy in the last six months, the widening policy gap between the Bank of Japan and the US Federal Reserve has led to depreciation in the yen.