JPY gave in partially. Overview for 22.03.2023

On Wednesday, the Japanese yen against the US dollar is stabilising. The current quote is 132.44.

Earlier the JPY grew noticeably because the USD declined.

The Japanese Minister of finance Shunichi Suzuki has mentioned in his speech today that the country’s financial system looks stable. To react flexibly to price changes, the Ministry of Finance plans to use its reserves. It is also going to work tightly with the Bank of Japan to take care of all the possible risks.

It is important that the national currency remained stable in the international market and represented fundamental figures.

On Wednesday, it became known that Japan was ready to spend 2 billion JPY from reserves on smoothing out the consequences of fast growth of prices and COVID measures.

Interestingly, the key task of the BoJ’s monetary policy is to liven up prices. And it certainly works, though the effect is not very expressed. At the same time, the Ministry of Finance plans to smooth out the consequences of inflation by reserve funds.