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Yen appreciation causes Japan forex losses

08-17-2010 08:40 BJT

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A slowing economy isn't Japan's only problem. The government there is also looking to work with the Bank of Japan, to respond to the sharp rise in the yen against the dollar.

The recent appreciation has caused Japan's foreign exchange assets large losses. They amounted to 30 trillion Japanese yen as the yen rose to a 15-year high this month against the dollar.

Japan's foreign exchange assets losses are estimated to be around 70 to 80 billion yen, if the Japanese currency appreciates by one yen. What's more, the yen rise threatens to damage exports and derail Japan's fragile economic recovery.

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Editor:Xiong Qu |Source: CNTV.CN

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