You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #20: The dollar in Japan: Investment risk or opportunity? [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-18-08 06:46 AM
Response to Reply #17
20. The dollar in Japan: Investment risk or opportunity?
TOKYO, March 18 (Reuters) - The rapid rise of the yen to a 13-year high against the dollar is unprecedented for many Japanese investors, prompting them to think twice about keeping funds in the beleaguered U.S. currency.

Others though, such as many of Japan's retirees, see an opportunity in paying less than 100 yen for one U.S. dollar for only the second time in recent history.

Resona Bank, Japan's fourth-largest bank, said the number of new dollar deposit accounts opened in the first 17 days of March was six times greater than for the whole of February.

"Retail clients were definitely in action. There were twice as many new dollar deposit accounts openned on Monday alone as there were for the whole month of February," a spokesman said. He declined to be specific.

The differing reactions from investors partly reflect just how dramatic the fall in the dollar has been against the yen.

It dropped as low as 95.77 yen on Monday, down 14 percent so far this year, already one of the biggest moves in a quarter in eight years. In the first quarter last year the dollar fell just 1 percent against the yen and during all of 2007 it fell just over 6 percent.

Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC