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Tiger Beer · Joined: 08 Feb 2003 Posts: 778 Location: Hong Kong

Anyone following the crisis in the U.S., and any projects/feelings on how it will effect the Japanese YEN?

originaloli · Posted: Mon Oct 06, 2008 2:41 pm Post subject:

When we found out my partner was moving to Tokyo for sure (August), the Yen was nearly 215 to the Sterling. Our 'Tokyo Residents'' book printed turn of the year lists it at 228. Last week it was as far down as 175. Two months and that slump. What that points out is how stable the Yen is internationally. Of course, that's a comparative figure. Lots of currencies are falling through their own arses. Bring on mass nationalisation!

In the short term, change Yen to your home currency sharpish and you'll be a mini-Soros. I have the feeling this won't last too long and there will be some sort of stabilisation by spring. Remember, this is just a normalising of an absurd system. There's still as many natural resources as there were. In my opinion, that's a much bigger problem. Forget false money, the problem is that we run an unsustainable lifestyle. That goes for me too, sad though it is. I don't need this computer to be powered, I don't need to eat so much, I don't need to...oh this is a rant. Time for bed.

Oli

iverin · Joined: 26 Jun 2008 Posts: 111 Location: Ontario

I was wondering about that myself. The Canadian has been slowly sliding downward and I was wondering when would be the best time to buy some Yen. I could buy now in hopes of getting a good price if it falls lower or I could wait in hopes that it goes up again. I'm leaving at the end of November so I need the Yen before then, just wondering when would be the best time to buy it.

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

The NZ dollar has gone from 99 yen to the dollar in January to 69 or so now,
and for the last couple of weeks it has been fluctuating between 75 and 69. I kind of doubt it will go as low as it was back in about 2000, when it got down to about 53 yen to the NZ dollar- those were good days, they made a Nova salary look almost worthwhile Laughing

I've been following the financial crisis, but it hasn't only affected the US. New Zealand's economy has been taking a major buffeting, with lots of financial houses closing down this year and the bottom dropping out of the stock exchange. At least mortgage interest rates should start to come down.

flyer · Joined: 16 May 2003 Posts: 539 Location: Sapporo Japan

the NZ$ was at 64 for a while today

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

Wow- hope it stays like that for a while Shocked

Yawarakaijin · Joined: 20 Jan 2006 Posts: 504 Location: Middle of Nagano

It is looking the best it has in a while for Canadians. I remember a while back it was costing me around 111 yen to get a Canadian dollar. Now it's (holy crap i just checked) 92 yen to get 1 CDN. Very Happy

cornishmuppet · Joined: 27 Mar 2004 Posts: 642 Location: Nagano, Japan

While the economic crisis sucks for pretty much everyone I know back home, its great for me! I hope the pound keeps sinking. Its starting to make up for all those times I sent money home at 240 last year.

reasonJP · Joined: 17 Jul 2008 Posts: 48

Was thinking of dabbling with the exchange rates and changing some money to sterling before the inevitable yen collapse, but is it really worthwhile with all the commision banks charge? It looks like the yen's started sinking this week anyway.

markle · Joined: 17 Jan 2003 Posts: 1316 Location: Out of Japan

Made AU$1000 off being too disorganized to send my savings home a couple weeks ago, sent it back today.I hope this keeps up for the rest of the year, my salary is worth @20% more than since the beginning of the year. Very happy since this kind of thing usually costs me $1000.

cornishmuppet · Joined: 27 Mar 2004 Posts: 642 Location: Nagano, Japan

I'm with you on that, Markle. I treat 200 to the pound as standard, as that's what it was when I got here. If its around that then I'm happy. And seeing it down at 172 as of right now, I'm practically jumping up and down. I dread to think how much I 'lost' last year, so nice its swinging my way again.

flyer · Joined: 16 May 2003 Posts: 539 Location: Sapporo Japan

G Cthulhu · Posted: Thu Oct 09, 2008 1:59 am Post subject:

iverin · Joined: 26 Jun 2008 Posts: 111 Location: Ontario

for curiousity's sake, what has the Japanese exchange rate changed from/to? I checked last week out of curiousity what my salary would be once I moved to Japan in november. I checked again just now and the number I got this time was about $400 higher than last week for the same amount of Japanese Yen. I doubt it will stay this amount long enough for it to affect me at all, but I was just wondering as I also checked the Canadian vs US dollar and we've actually slid down another 2 cents in the last 2 days making $1 canadian dollar worth .88 cents American.

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

Who said it looks like the yen is sinking this week? It's actually so strong right now that they were showing exporters on the news last night saying that they couldn't sell their stock anymore due to the strength of the yen. The yen just keeps getting stronger and stronger as other currencies are going downhill. It might not last, but it's been even stronger before so make sure you know which way it's going before you start playing the markets!