Japan: Japanese yen continues to depreciate in March
March 30, 2012
On 30 March, the Japanese yen (JPY) traded at 82.8 per U.S. dollar (USD), weakening 1.9% over the end of the previous month. The March depreciation followed the sharp 6.8% loss recorded in February. In fact, the Japanese yen has continuously lost ground against the USD since the Bank of Japan announced on 14 February that it aims to achieve an inflation goal of 1% mainly purchasing financial assets. That said, on an annual basis, the yen has only weakened a mild 0.1%.