Arab Today, arab today japan finance minister warns over yens rapid rise
Last Updated : GMT 21:32:47
Arab Today, arab today
Arab Today, arab today

Japan finance minister warns over yen's rapid rise

Arab Today, arab today

Arab Today, arab today Japan finance minister warns over yen's rapid rise

Japanese yen
Tokyo - AFP

Japan's finance minister on Tuesday warned over the yen's rapid rise after the dollar plunged to a seven-month low against the unit on fears over China's economy and global growth.

In Tokyo, the greenback fetched 119.94 yen following the comments, from 118.51 yen in New York where it fell at one stage to 116.18 yen, its lowest level since February. The dollar was above 124 yen last week.

The euro bought 138.44 yen from 137.55 yen in US trading, while it slipped to $1.1541 against $1.1606.

A bloodbath on global equity markets driven by fears over a slowdown in China -- and the broader impact on the global economy -- pushed traders into the yen, which is seen as a safe haven in times of turmoil.

Japan's Finance Minister Taro Aso on Tuesday cautioned over the yen's rapid rise which he described as "rough", and said Tokyo was in frequent contact with other G7 nations about the market swings.

A rapid rise in the yen hurts major Japanese exporters such as Toyota and Sony by denting their competitiveness overseas and shrinking the value of repatriated profits.

Economy Minister Akira Amari called for a "cool-headed approach", but added that the shift into the yen "reflected the strength of Japan's economic fundamentals".

"The foundations of the global economy have not been shaken -- a cool-headed approach is necessary," he told reporters.

"We've seen government officials talking about moves being rapid, so we're getting the first hints basically of the government getting a little bit concerned about the extent of yen strength here," Ray Attrill, global co-head of currency strategy at National Australia Bank, told Bloomberg News.

Investor fears have spiked on concerns the world's second-biggest economy is slowing more than previously thought after China's central bank devalued the yuan in a shock move seen as a bid to boost sagging exports.

That has sparked fears over a currency war in which countries cut the value of the currencies to compete.

In other trading, Russia's currency fell again after the euro passed the symbolic 80-ruble mark on Monday.

The 19-nation currency rose to 82.08 rubles on Tuesday, while the dollar was also up at 71.19 rubles.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan finance minister warns over yens rapid rise Arab Today, arab today japan finance minister warns over yens rapid rise

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday