1 Dollar = 100 Yen
March 13th, 2008 by James
The dollar dropped to a 12-year low against the yen and record lows versus the euro and Swiss franc on Thursday, sliding on doubts about the effectiveness of the Federal Reserve’s efforts to aid strained credit markets and limit the damage to the U.S. economy.
The dollar slid over 1 percent on the day to lows near 100.20 yen the lowest since late 1995.
The decline of the dollar:
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And still falling 1 = 100.414 now.
I rely on the fluctation between the AU and the Yen moreso but it is pleasant to buy a flight or something, quoted in USD and be getting a good ride off the back of the Yen for once.
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As if Japan is already expensive, a falling dollar makes it really expensive for me to go on vacation anywhere.
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Japan is not expensive. That is a myth propagated by credulous reporters and travel writers who like to wow everyone with tales of hundred-dollar melons and the cost of a cup of tea at the Imperial Hotel or a drink at (esp) the wrong sort of nightclub. You’ll get more from your dollar in Tokyo than you will in London, I’d say.
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I lived in central Tokyo and paid less than I pay now for crappy student accommodation in small English town about one hour from London. London itself is a joke.
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5000 yen is plenty for breakfast, lunch, dinner, all the fancy drink bottles you buy from vending machines, train/subway tickets… and you’ll still have some money left for snacks inbetween meals. The most expensive meal I had last time there was a sushi dinner for maybe 4000 yen. If it’s simply buying stuff from the supermarkets 1000-2000 yen is a lot.
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Hell yeah. I could live on 5,000 yen a day in Tokyo even including the hotel (depending on how far I travelled by subway of course).
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I think a lot of folk from the US have been made very comfortable over the years with a strong US dollar. For YEARS as an Australian we were dealing with our $ buying 60 us cents, and 30 pence, imagine how hard it is for MOST developed countries to holiday elsewhere in the world. The US has had a good run for a long time with regards to conversion rates …. it’s just that they’re not used to considering it like we’ve had too.
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Guess what.
Electronic stuff still costs more or 1:1 in Europe.
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Yeah, I import a lot of stuff from the US, so this means more bargains. Games are already half price over there :-p
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Of course this means that the high oil prices quoted in the news thing at the top of Japan Probe (the old one was way better I think, btw) are meaningless. Oil isn’t getting more expensive, the US$ is getting cheaper. Perhaps we should check the Euro prices….
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I agree, but for unknown reasons that I cannot explain, the wordpress plugin I am using to display feed headlines started failing to read the previous headline feed, so I replaced it. The old headlines, which were based on my personal bookmarks, are still being updated and can be viewed here:
http://del.icio.us/japanprobe
hmmm, seemed to have fixed the technical issue by redirecting JapanProbe to read the feed from Feedburner, which is reading the feed from delicious. Might be a little slower in updating than before, but it looks like it’s working.
The high oil prices do matter, since they drive up consumer prices at a time when wages are not growing enough to match the gap (since packaging and shipping squeeze overhead margins at small and medium size enterprises the worst). Oil prices are stable when measured against gold or wheat, but that is in part due to the commodities boom. Let me know when you can pay for gas with gold at Eneos.
The thing is that when the Nikkei declines, the dollar declines against the yen. When the Nikkei goes up, the yen weakens against the dollar. Plot both rates on a chart over the past ten years and you will find some excellent trading opportunities.
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john K… the money you are making will make a difference if you plan to return to the US.. and havent spent all the money you earned in Japan in japan. You’ll get a larger return, aka more US dollars, with such a low american dollar.
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We’re one step closer to the end of the world. NOoooooo!
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that sucks that the U.S. dollar is becoming worthless, i think this is president Bush’s fault for some reason
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Now it’s 99.3 yen per dollar according to xe.com. Penny is now weaker than one yen.
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is 5000 yen a lot?
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