United States' actions in 1971. 3, Tokyo: Heibonsha, 2007. "Number of Coin Production (calendar year.
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Japanese government intervention in the currency market edit In the 1970s, Japanese government and business people were very concerned that a rise in the value of the yen would hurt export growth by making Japanese products less competitive and would damage the industrial base. Occupation government fixed the value of the yen at 360 per US 1 through a United States plan, which was part of the Bretton Woods System, to stabilize prices in the Japanese economy. Historical exchange rate edit The table below shows the monthly average of the.S. The increased costs of imported oil caused the yen to depreciate to a range of 290 to 31976. Despite intervention, market pressures caused the yen to continue climbing in value, peaking temporarily at an average of 271 per US1 in 1973, before the impact of the 1973 oil crisis was felt. Retrieved February 10, 2016 Further reading edit Medhurst, Walter (1830). 15 This exchange rate remained in place until Japan left the gold standard in December 1931, after which the yen fell.30 by July 1932 and.20 by 1933. Dollar,.4 for the euro,.3 for the pound sterling, and.4 for the yen (as of 2011). United States dollar and the euro. The yen japanese :, Hepburn : en, symbol : ; code : JPY ; also abbreviated as, jP ) is the official currency of, japan.
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