Japan Yen - too strong - Page 2

RickOShay · (#11 (**permalink**))

Quote:

Originally Posted by MMM

I seem to remember a time in the mid-90s when the it was 70-something yen to the dollar. I was sending yen home in cash.

It never got that low, where it is now is about as low as it ever got. Still I am totally loving sending cash home right now! I wish I would have waited to send the majority of what I had saved back now. But i do not beat myself up too much about it, nobody can predict exactly what will happen.

Sangetsu · (#12 (**permalink**))

Quote:

Originally Posted by RickOShay

It never got that low, where it is now is about as low as it ever got. Still I am totally loving sending cash home right now! I wish I would have waited to send the majority of what I had saved back now. But i do not beat myself up too much about it, nobody can predict exactly what will happen.

The record low was 75 yen to the dollar, which is a bit lower than today's rate. When I add the typical transaction fee to one of my regular bank transfers I end up with 79 yen per dollar.

The exchange rate should stabilize a bit after the elections in November, the world markets are betting that the Obama administration will have to change it's economic policies if their party loses it's majority in Congress next month. Markets are already moving up in anticipation.

RickOShay · (#13 (**permalink**))

Quote:

Originally Posted by Sangetsu

The record low was 75 yen to the dollar, which is a bit lower than today's rate. When I add the typical transaction fee to one of my regular bank transfers I end up with 79 yen per dollar.

The exchange rate should stabilize a bit after the elections in November, the world markets are betting that the Obama administration will have to change it's economic policies if their party loses it's majority in Congress next month. Markets are already moving up in anticipation.

Where is your source for that info? Wikipedia puts the record at 83.53 in April of 1995. Japanese yen - Wikipedia, the free encyclopedia

oh I guess that is the monthly average.. but still it says the lowest was just under 80 yen.. not 75.

Sangetsu · (#14 (**permalink**))

Quote:

Originally Posted by RickOShay

Where is your source for that info? Wikipedia puts the record at 83.53 in April of 1995. Japanese yen - Wikipedia, the free encyclopedia

oh I guess that is the monthly average.. but still it says the lowest was just under 80 yen.. not 75.

Believe it or not children, the information you get from Wikipedia is not always correct. I just read another Wikipedia article that put the yen "under 80 yen to the dollar" in April '95. Which one is right? The yen's lowest level was 75.5 yen to the dollar in 1995. To be sure, the Japanese government has always kept the yen artificially low in the past, but it is now quite a bit over-valued.

RickOShay · (#15 (**permalink**))

Quote:

Originally Posted by Sangetsu

Believe it or not children, the information you get from Wikipedia is not always correct. I just read another Wikipedia article that put the yen "under 80 yen to the dollar" in April '95. Which one is right? The yen's lowest level was 75.5 yen to the dollar in 1995. To be sure, the Japanese government has always kept the yen artificially low in the past, but it is now quite a bit over-valued.

Again where is your source? Is this the other article? Endaka - Wikipedia, the free encyclopedia

It's not that I want to argue, but I have never seen any record stating the yen was at 75.

I am talking American dollars btw.

Here is a non-wikipedia source supporting what I have said.JPMorgan Raises Yen Forecasts, Says May Advance to 79 Per Dollar This Year - Bloomberg

tsurezure · (#16 (**permalink**))

７９円７５銭＋google news search
http://www.google.co.jp/search?q=%EF%BC%97%EF%BC%99%E5%86%86%EF%BC%97%EF%BC%95%E9%8A%AD&um=1&ie=UTF -8&tbo=u&tbs=nws:1&source=og&sa=N&hl=ja&tab=wn
変動相場制移行後の最高値は1995年４月19日の７９円７５銭
明治初期は１ドル1円だったそうです(笑）

RickOShay · (#17 (**permalink**))

Quote:

Originally Posted by tsurezure

７９円７５銭＋google news search
http://www.google.co.jp/search?q=%EF%BC%97%EF%BC%99%E5%86%86%EF%BC%97%EF%BC%95%E9%8A%AD&um=1&ie=UTF -8&tbo=u&tbs=nws:1&source=og&sa=N&hl=ja&tab=wn
変動相場制移行後の最高値は1995年４月19日の７９円７５銭
明治初期は１ドル1円だったそうです(笑）

Yes, 79.75 is the all time low, and it did not happen for very long. Only for few days in April of 1995. I am hoping it can go lower than this.

noodle · (#18 (**permalink**))

Me and a Japanese friend were talking about this the other day actually.
Japanese Yen Rate Forecast
Dollar reduce it value against japans yen.

Exchange rates are a tricky thing... When I came to France from England a couple of years ago to study, I was living it up with the exchange rate. I thought things could only get better, so I didn't exchange all my money. Now, I'm losing so much whenever I exchange that I've basically gotta find a job soon or get a loan to finish my studies! These things happen, and you just gotta get through it!

RealJames · (#19 (**permalink**))

A lot of my students run export companies here in Japan and they haven't stopped complaining about the increasing yen. It's killing their business.

The only people that like it are the travelers.

Export countries get slaughtered by a strong currency

steven · (#20 (**permalink**))

Quote:

Originally Posted by RickOShay

oh I guess that is the monthly average.. but still it says the lowest was just under 80 yen.. not 75.

I think that the monthly average part has something to do with it... I do recall quite different figures in the early 2000's than what is written on wikipedia... but I'll believe wikipedia over my fuzzy memory any time.

As far as the discrepency between "all time lows" goes, the lowest I found when I looked it up last was around 79. However, I wouldn't be surprised if it was actually lower... when I was really into stocks a couple of years ago I used to see little anomolies that would kind of go off the record (but sometimes they would stick). If you watch stocks all day you can sometimes see funny things, like a $50 stock going to $75 for a couple of minutes in the middle of the day and then going right back to $50 for the remaining hours of the day. While that is about the biggest spike I've personally seen, I would often see spikes like that and only sometimes would the stocks' highs for those days reflect them. I wonder if the same thing can't happen for currency. More importantly, I wonder why those "spikes" happen... I bet a lot of people are making a lot of money off of those little "errors". That's a whole other thread though for sure.

At any rate, it will be interesting to see how this pans out.