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The currency exchange rate has depreciated sharply and textile foreign trade is threatened again
Release date: [2024/5/21]  Read total of [69] times

The currency exchange rate has depreciated sharply and textile foreign trade is threatened again


Recently, the exchange rate of the Japanese yen has fluctuated and fallen sharply, which has put the Japanese economy under obvious pressure. In addition to the Japanese yen, the exchange rate of many Asian national currencies against the US dollar has also fallen to varying degrees this year. The Japanese Economic News recently reported that many Asian countries remain vigilant against the depreciation of their currencies caused by the appreciation of the US dollar and have launched a currency defense war. According to the Nikkei report, this year, as of May 1, the Japanese yen, Thai baht, South Korean won, Indonesian rupiah, Philippine peso and Malaysian ringgit and other Asian national currencies against the US dollar exchange rates have fallen to varying degrees.


Compared with the beginning of the year, the Japanese yen fell about 9 percent against the dollar, the Korean won fell more than 6 percent, and the Indonesian rupiah fell more than 5 percent.


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