The value of the Japanese yen dropped again.
The decision of the Bank of Japan on Friday to keep its ultra-low interest rates unchanged and refrain from taking any action to increase the value of the yen caused the currency of this country to reach its lowest level against the dollar in the past 34 years.
Of course, the decision of the bank on Friday to maintain the benchmark rate between zero and 0.01 percent was expected, and the Bank of Japan announced that these monetary conditions would be maintained for now.
Last week, Haruhiko Kuroda, the head of the Bank of Japan, had said that if the depreciation of the yen becomes so significant that it cannot be ignored, then the central bank would probably change its monetary policy.
Although a weaker yen is better for Japanese exporters, it raises import prices. Based on this, around 5 p.m. local time on Friday, each US dollar was traded at 15,670 yen.
Persian
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