Japanese Yen Exchange Rate Drops to 0.1991, NT$100,000 Can Buy 24,000 More Yen for Travel

(CNA) As the Japanese yen depreciates, its exchange rate has hit a new low. According to the latest exchange rate announced by Bank of Taiwan, the selling price for Japanese yen banknotes dropped to NT$0.1991 this morning. Compared to the peak exchange rate in February this year, exchanging NT$100,000 can now yield an additional 24,000 yen, which is equivalent to the cost of three adult tickets to Tokyo Disneyland.

Despite the Bank of Japan's announcement of a 0.1% interest rate hike on the 16th, it has failed to reverse the yen's weakening trend. The yen depreciated past the 161 mark against the US dollar in early trading today. Observing the Bank of Taiwan's exchange rate, the selling price for Japanese yen banknotes was seen multiple times this morning at the attractive rate of 0.1991.

Compared to the high point of 0.2091 on February 12th, which was the peak in the last six months, NT$100,000 could then purchase 478,000 yen. Today, it can buy 502,000 yen, an increase of 24,000 yen. This is equivalent to saving the cost of three adult tickets to Tokyo Disneyland (calculated at 7,900 yen per ticket), making travel to Japan significantly more budget-friendly.

Forex market insiders noted that while the New Taiwan dollar slightly depreciated against the US dollar in early trading, the yen's depreciation was more pronounced, making the exchange rate more favorable for the New Taiwan dollar. However, it is recommended that the public still adhere to the principle of "dollar-cost averaging" to take advantage of cheaper travel expenses. (Editor: Pan Yi-ching) 1150622

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