The Japanese Yen Plunged 6% Days In Two Days, And Has Depreciated By 16% This Year.

Influenced by the ultra loose monetary policy of the Bank of Japan, Yen The RMB exchange rate plunged sharply after the holidays, the two day depreciation of about 6%, and this year has depreciated by 16%. Experts said that the yen market outlook is expected to continue to fall, which is good for tourism and study groups in Japan. However, if people want to exchange yen, then they may as well wait.

　　 The Japanese central bank's quantitative easing policy has caused the yen to depreciate against the US dollar.

The governor of the Bank of Japan has changed hands recently. Shirakawa Gataaki, former governor of Central Bank of China, left office in March 19th this year. He took over as president of the Asian Development Bank governor Kuroda Higashihiko. Kuroda Higashihiko held the first time since he took office last Thursday. monetary policy At the meeting, Japan's quantitative easing policy was clarified. The Bank of Japan announced that it would take 2% years to achieve the inflation target of two years, replacing the unsecured overnight lending rate with the basic monetary amount as the main target of the central bank's monetary market operation, doubling the basic money volume in two years, and reaching 270 trillion yen (US $2 trillion and 830 billion) at the end of 2014.

One stone stirred up waves. The easing of monetary policy by the Bank of Japan has caused huge shocks in the international exchange market. Last Friday, the yen depreciated sharply in the international exchange market, dropping to the US dollar exchange rate near 97 yen, that is, 1 US dollar to 97 yen, hitting 4 and a half years low, while Japanese stock market rose nearly 4% on Thursday and Friday two. A huge concussion has also spread to the domestic currency market after the Qingming Festival. On Monday, the central bank announced a jump in the renminbi against the yen, and the central parity of the RMB against the yen was 6.3449, which was 3353 basis points higher than the previous trading day and appreciated by more than 5%. Yesterday, the yuan continued to appreciate against the yen. The median price was 6.2949, up 500 basis points from Monday, and the Japanese yen depreciated 6% against the two day. If the yen's central parity rate of RMB was calculated at 7.3049 from the end of last year, as of yesterday, the depreciation of the Japanese yen to the yuan has reached 16% this year. That is to say, compared with the end of last year, citizens now go to the bank to exchange yen for at least 16% off.

　　 Citigroup said the yen is still under pressure of depreciation, suggesting that the public should not change yen now.

In response to the new policy of the Bank of Japan, Citibank said in an email sent to the Yangtze Evening News reporter that the Japanese yen's trend will continue to fall under the impetus of the BoJ's unlimited QE. Citi maintained its original short-term target of 100 against the yen, but under the background of expanding the monetary base, the yen in the medium and long term has further devaluation pressure and may depreciate to 115.

How will the depreciation of Japanese currency affect China's common people? For this reason, the reporter interviewed relevant analysts in the industry. Hu Yi, a financial planner of Nanjing branch of China Merchants Bank, believes that the devaluation of Japanese currency is positive from the monetary level to the public. It can enable people to exchange more money for less money for Japanese tourism or study groups. For example, according to the annual tuition fee of about 700 thousand yen, the cost at the beginning of the year is about 51 thousand and 100 yuan. Now the cost is only 44 thousand yuan, which is 7000 yuan more than that of the beginning of the year.

But from the practical point of view, the devaluation of Japanese currency has little impact on people's lives. For example, from Nanjing students studying in Japan and the public to travel to Japan, the actual proportion of students and tourists to Japan is relatively small, so the devaluation of Japanese currency has little impact on Nanjing citizens.

How should citizens respond? Devaluation of Japanese currency Cai Peiye, an analyst at Nanjing branch of Xingye Bank and Hu Yijun, a financial planner of Nanjing branch of China Merchants Bank, said that the monetary easing policy implemented by Japan is of a long-term nature. Or it can be said that the Japanese government has adopted an extreme way to deal with the stagflation of Japan's economy. At present, it has great devaluation space. Therefore, it is suggested that people should not exchange foreign currency at present, and holding renminbi may be more secure and reliable.