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News Economy Japanese yen slides to nearly 34-year low

Japanese yen slides to nearly 34-year low

The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan official indicated it would press ahead with a loose monetary policy, even after this month hiking interest rates for the first time since the global financial crisis.

Anadolu Agency ECONOMY
Published March 27,2024
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JAPANESE YEN SLIDES TO NEARLY 34-YEAR LOW
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. (REUTERS File Photo)

The Japanese yen sank to a nearly 34-year low against the U.S. dollar in early trading Wednesday, briefly hitting 151.97.

It marks the first time since July 1990 that the currency of the world's fourth largest economy has slid to this level, public broadcaster NHK reported.

The loss in the yen comes after Tokyo ended its negative interest rate policy early this month.