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The yen-dollar exchange rate rose to 145.97, the highest since February this year.

2024-08-05

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On August 5, local time, in the international foreign exchange market, the yen-dollar exchange rate once rose to 145.97 yen to 1 dollar, the highest level since February this year.

The Bank of Japan decided at the monetary policy meeting that ended on July 31 to raise the policy interest rate from 0% to 0.1% to around 0.25%. This is the first interest rate hike since the Bank of Japan ended its negative interest rate policy in March this year. The meeting also decided to gradually reduce the central bank's government bond purchases from the current monthly amount of about 6 trillion yen to about 3 trillion yen per month from January to March 2026.

The Japanese Ministry of Finance said on July 31 that it used about 5.5 trillion yen (1 RMB is about 20.68 yen) to intervene in the foreign exchange market from June 27 to July 29.

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The yen-dollar exchange rate rose to 145.97, the highest since February this year.

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