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Japan scrutinising impact of yen fall on its economy, says Finance Minister Suzuki By Reuters

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© Reuters. FILEPHOTO: Shunichi Suzuki (Japan’s finance minister) speaks in a protective mask at the Tokyo press conference, Tokyo, Japan on October 5, 2021. REUTERS/Kim Kyung-Hoon

By Tetsushi Kajimoto

TOKYO, Reuters – Shunichi Suzuki, the Japanese Finance Minister said Friday that the government would examine the consequences of recent yen falls. He described them as both positive and negative for the economy.

Due to inflation fears, Friday’s dollar rally reached a nearly 3-year high at 113.885yen.

According to Suzuki, a weak yen increases import prices for consumers and firms but helps exporters.

He said that currency stability was very important. We will keep an eye on currency market movements and the impact they have on the economy.

Japan’s wholesale inflation reached a high of 13 years in September due to rising commodity prices worldwide and weakening yen. This pushed up imports, which put pressure on corporate margins. It also raised the possibility for unwelcome consumer price increases.

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