Japan Currency JPY to PKR

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Japan Currency JPY to PKR

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Currency wars on a global scale continue to escalate, affecting exchange rates. The national banks of many countries of the world launched what is called “heavy artillery”, moving to monetary easing programs to curb the growth of their national currencies.

As an example, let’s take the actions of the Central European Bank, which lowered the euro discount rate in November 2013. On the same day, the Czechs intervened in the Forex market and devalued the kroon. At the same time, Australia openly expressed dissatisfaction with high rates, and New Zealand postponed the rate hike to curb the growth of the kiwi. A new round in the currency wars is gaining momentum.

Competitive devaluation
The Central Eurobank lowered the discount rate by 0.25%. This is a record low level, which, however, is not aimed at creating a “strong euro”. It is needed to end the protracted period of low inflation in the Eurozone, which has been going on for a year. Therefore, fewer people want to buy the euro today – it has fallen against the dollar by more than one and a half percent.

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