The recent decline in the yen exchange rate has led to the increase in the cost of imported goods in Japan, which has further limited the consumption capacity of Japanese families.The Japanese government considers the yen as a "vicious depreciation". Treasury Minister Suzuki Suzuki intends to coordinate the depreciation of the yen with the United States on the occasion of the Twenty State (G20) Finance Security Conference held by Washington on the 20th.
In mid -March, the yen exchange rate remained at the level of 1 US dollars against 115 yen. Unexpectedly, it fell to $ 1,26.30 yen last Friday, a low level of about 20 years since May 2002.Analysts even believe that the yen will fall below the level of 130 yen.
Suzuki Suzuki said at a press conference on the 15th to alert the devaluation of the yen: "The prices of various raw materials in Japan have risen sharply because of the Ukrainian war. Now it has encountered the rapid depreciation of the yen.Consumers are a vicious yen depreciation. "
Nikkei News believes that the main reason for the rapid depreciation of the yen is that the United States raises interest rates, prompting the US dollar to be popular.At the same time, the Japanese Central Bank continued to adhere to the loose policy due to the domestic economic situation, prompting investors to sell the yen.The low yen policy has been one of the strategies for Japan to promote exports in the past, but this wave of yen has been depreciated. Three -quarters of Japanese companies believe that it is more disadvantaged.
Hashimoto II, President of the Japanese Iron and Steel Association pointed out: "The weak Japanese yen will further increase the price of raw materials, which is not good for merchants, and causes pressure on Japanese families, which eventually leads to domestic consumption downturn and economic deceleration."
Ikinari, a popular Japanese steak shop, is sold in the United States and Australian steaks.In 2016, the company also opened 100 branches with a high yen exchange rate.Recently, as the price of imported beef rose, the company's person in charge said in an interview: "At the beginning of last month, the price was originally intended to maintain the price with the number of snapped steak grams, but recently, it was seen that the yen had repeatedly depreciated and had to consider raising the price." Facing the devaluation of the yen and the soaring energy prices, the stores in the store are also impacted by 100 yuan stores sold at 100 yen.The reporter walked into a 100 yuan shop in a neighborhood and found that a variety of daily necessities were out of stock.After questioning, I know that these 100 yuan chain stores have canceled many products from South Korea and China.
The person in charge explained: "The 100 yuan store calls for cheap, and we cannot easily increase the price. Therefore, only the cancellation of some daily necessities with higher costs."
However, the reporter also learned that in the era of the depreciation of the yen, some 100 yuan stores have transformed.The pioneer of the 100 yuan store, Dachuang Department Store, took into account the call of "100 yuan" sooner or later to face the exchange rate challenge, so it began to transform in 2018, and no longer sell cheap items.This month when the yen accelerated the depreciation, the company entered the valuable Ginza on the ground, and the main flagship store owned the main sales of "300 yen" products.
Before the epidemic, the low yen exchange rate can also attract foreign tourists to buy it in Japan.This time, due to the official opening of foreign tourists, the Japanese tourism industry could not enjoy the sweetness.The analysis pointed out that the continuous devaluation of the yen may promote the official to open the country as soon as possible, introduce tourists to drive consumption, and recover the economy.
