On April 25, Finance Minister Shunichi Suzuki (pictured) spoke at the House of Councilors Committee on Finance and Financial Affairs, commenting on the dollar-yen exchange rate, which had reached the 155 yen level for the first time in 34 years, saying, “We will closely monitor the market and take appropriate measures.” There is no change,” he said. The photo was taken on the 18th in Washington, U.S. (2024 Reuters/Ken Cedeno)
TOKYO (Reuters) – Minister of Finance Shunichi Suzuki told the House of Councilors Committee on Finance and Finance on the 25th, regarding the dollar-yen exchange rate, which has reached the 155 yen level for the first time in 34 years, “We are closely monitoring the market right now. There is no change in my commitment to respond appropriately based on what we are focusing on.” Reply to Committee member Kohei Otsuka (Democratic Party).
Commissioner Otsuka asked about the current situation of the yen’s depreciation, given that Finance Minister Suzuki is scheduled to go on an overseas business trip next week. Mr. Suzuki asked for understanding that he could not say much in the current situation.
Atsushi Mimura, head of the International Affairs Bureau at the Ministry of Finance, explained that the purchasing power parity of the dollar-yen was 90.82 yen as of April, according to an estimate by the International Monetary Fund (IMF). The real effective exchange rate calculated by the Bank for International Settlements (BIS) was 70.94 as of March.
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