The Japanese yen continued to fall against the U.S. dollar to the upper 160 range early Thursday in Tokyo after slumping to its lowest level in 37 years as traders grew wary of another possible market intervention by Japanese authorities.
The U.S. dollar rose as high as 160.88 yen in New York, marking the Japanese currency's weakest level since December 1986 and surpassing 160.24 yen hit on April 29, a level that prompted Japan to intervene by buying the yen with the U.S. currency.
Finance Minister Shunichi Suzuki on Thursday expressed "strong concerns" about the impact of the yen's depreciation on the economy. Noting that "rapid and one-sided" yen moves are undesirable, he said Japan is looking at what is driving the yen's fall and will take necessary action if needed.
On April 29 when the U.S. currency briefly climbed to 160.24 yen, its highest level in 34 years, the Japanese government and the Bank of Japan apparently stepped into the market and spent some 9.8 trillion yen (61.64 billion U.S. dollars) to prop up the currency.
Japanese yen tumbles to 37-year low against US dollar in upper 160 range
Japanese yen tumbles to 37-year low against US dollar in upper 160 range
The 54th General Assembly of the Organization of American States (OAS) was held in Asuncion, Paraguay from Wednesday to Friday, with a focus on integration and security for the sustainable regional development.
Attending the assembly were representatives from OAS member states, 74 permanent observers and some civil society organizations.
Under the theme of "Integration and Security for the Sustainable Development of the Region," the delegations expressed their pleas for peace, democracy, equality and multilateral work among countries.
Hours before the opening ceremony in Asuncion, the situation in Bolivia, a neighboring country to Paraguay, was top on the agenda.
According to the Bolivian government, Gen. Juan Jose Zuniga on Wednesday led the attempted coup in Palacio Quemado, the government palace, which is located in Murillo Square in the city of La Paz, in a failed bid to oust President Luis Arce from office.
"We do have a very deep concern about the indigenous people in Bolivia, and hopefully this coup d'etat that didn't happen, that things go smoothly," said Clement Chartier, former president of the World Council of Indigenous Peoples.
The assembly also dedicated its statements to the improvement of democracy in Haiti and also to the promotion of human rights throughout the continent. A resolution was approved for continued efforts toward the immediate restoration of security, and the strengthening of humanitarian aid in Haiti.
Haiti has long suffered serious political and social crises, especially after then President Jovenel Moise was assassinated in 2021. There are around 200 armed gangs in the country disturbing the social order. The rise of armed gangs, the surge of violence incidents and the increase of lynching cases have forced Haitians to live in humanitarian disasters in terms of safety, health care and food supplies.
54th OAS General Assembly held in Asuncion, with focus on regional security
54th OAS General Assembly held in Asuncion, with focus on regional security
