WEAK YEN BOOSTS JAPANESE AUTO EXPORTS, BUT INCREASES INPUT COSTS
July 22nd, 2024
The Japanese yen’s slide of more than 10% against the dollar in the past 12 months to reach a 38-year low may be propping up profits for Japan’s export-driven automakers but the resulting rising production input import costs are causing pain for Japanese auto parts suppliers businesses.
The currency fell from JPY141.78 against the US dollar on July 23, 2023, to a record low of 161.89 on July 3, 2024, but since recovered to reach 156.83 on July 22, 2024, according to data from www.xe.com, part of money transfer business Euronet Worldwide.
For Japan’s car ...
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