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Japan's Forex Reserves Drop By Record $54 Bil. Following Intervention

  • Category:Other
KYODO NEWS
 
Japan's foreign currency reserves fell by a record $54 billion to $1.238 trillion at the end of September, after the first intervention in 24 years to arrest the yen's rapid depreciation, Finance Ministry data showed Friday.
Among the reserves, securities, which include U.S. Treasuri...

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Japan Targets Farm Export Gains To Blunt Weak Yen's Pain

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CNA
 
When Japanese Prime Minister Fumio Kishida vowed this week to wring more gains from the weak yen, which has become instead a source of economic pain, he was pinning his hopes on the likes of Soichi Yoshimura, 33, and his strawberry farm north of Tokyo.
Most Japanese farmers - like many othe...

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Energy Costs, Weak Yen Push Tokyo Inflation At Fastest Pace In 30 Years

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JAPAN TODAY
 
Energy prices and a weak yen sent core consumer prices in Tokyo 2.8 percent higher in September from a year earlier, the fastest pace of increase in over three decades when excluding the effects of tax hikes, government data showed Tuesday.
The core consumer price index for Tokyo ex...

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Japan to Invest in Metaverse and NFT Expansion

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COIN DESK
 
Prime Minister Fumio Kishida continued calls for Web3 technology integration.
Japan’s Prime Minister Fumio Kishida said in a policy speech on Monday that the country’s plans for investing in digital transformation include non-fungible tokens (NFT) and metaverse services.
The country h...

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Japan Ready To Take 'Decisive' Steps On Yen, Finance Minister Says

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REUTERS
 
Japan stands ready to take "decisive" steps in the foreign exchange market if excessive yen moves persist, Finance Minister Shunichi Suzuki said on Monday, in a new warning against investors selling off the currency.
"It's important for currencies to move stably as sharp and one-sided m...

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BOJ Tankan Shows Japan’s Business Mood Worsens In Q3

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THE JAPAN NEWS
 
Japanese manufacturers’ business mood worsened in the three months to September, a central bank survey showed on Monday, bolstering views that the weakening yen and its inflationary impact on business costs undermined a fragile economic recovery.
Adding to the gloom, fears of a g...

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Japan's Forex Intervention Hits Record ¥2.84 Tril To Stem Yen Fall

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JAPAN TODAY
 
Japan's currency intervention last week cost 2.84 trillion yen, the largest-ever amount spent to stem the yen's sharp slide against the U.S. dollar, Finance Ministry data showed Friday.
The yen-buying, dollar-selling operation, Japan's first since 1998, was carried out on Sept. 22, ...

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Indonesia-Japan Sign US$138.2mn Trade Contract for Palm Kernel Shells

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TEMPO
 
Indonesia booked a US$138.2 million worth of palm kernel shells trade contract with Japan for the latter's renewable energy needs. The agreement was met in a business meeting and the signing of a trade agreement in Tokyo today, Sept. 28.
The business meeting that resulted in the trade con...

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Mcdonald's Hikes Prices In Japan On Higher Input Costs, Weaker Yen

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CNA
 
Japan's McDonald's fast food restaurants will raise prices on about 60 per cent of offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday (Sep 26).
It marks the company's second set of price increases this year as Japan grapples with...

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Japan Warns Against Speculative Yen Moves, Markets Wary Of Further Intervention

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REUTERS
 
 Deeply concerned about rapid, one-sided moves - finmin SuzukiGovt, BOJ share concern over sharp yen falls - SuzukiBOJ Kuroda signals readiness to ramp up stimulusJapan won't intervene to defend line-in-sand - ex-FX diplomat
TOKYO/OSAKA, Sept 26 (Reuters) - Japanese Finance Minister Shu...

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