Japanese yen tumbles to 38-year low against U.S. dollar

The Japanese yen continued to drop further to a 38-year low against the U.S. dollar on Wednesday, Japanese media Nikkei reported.

The U.S. dollar rose to as high as 161.83 yen in New York, marking the Japanese currency's weakest level since December 1986.

At the same time, the euro reached 173.76 yen, its highest rate against the yen since the European currency was introduced in 1999.

The Shanghai Cooperation Organization (SCO) will surely build up strong momentum for upholding world peace and development, Foreign Ministry spokeswoman Mao Ning said at a press briefing in Beijing on Friday.

Mao made the remarks in response to a question about the summit.

The 24th Meeting of the SCO Council of Heads of State was held in Astana on Thursday. President Xi Jinping attended the Meeting upon invitation, and delivered the important statement titled Joining Hands to Build a More Beautiful Home of the Shanghai Cooperation Organization, Mao said.

"During the Meeting, President Xi had in-depth exchanges of views with leaders of other countries on global and regional issues of common concern, through which the leaders drew a blueprint and charted the course for SCO going forward with a series of consensus reached. Over 20 documents were adopted at the summit, including the Astana Declaration, the SCO initiative on world unity for justice, harmony and development, and the statement on the principles of good-neighborliness, trust and partnership. In particular, the Astana Declaration underscores adherence to the Shanghai Spirit, and reaffirms the commitments to building a new type of international relations and building a community with a shared future for mankind. The Declaration represents the common aspiration for greater solidarity and cooperation among SCO member states, and sends the positive message of the SCO shouldering the missions of the new era, and braving risks and challenges together for security and development. The summit delivered fruitful outcomes, gave a strong boost to the development of the SCO, and showcased the increasing appeal and influence of the SCO," she said.

"Amidst changes of historical significance across the world, President Xi Jinping development trend in the world, and stands at the strategic height of long-term development of humanity with a global vision and people-centered philosophy. He underscored the importance of having the wisdom to see the changes, the ability to deal with the changes, and the courage to make changes to cope with the major transformation. President Xi pointed out that the SCO region is facing the triple risks of the Cold War mentality, 'small yard with high fences,' and external interference and attempts to divide our region. He went on to provide three recommendations to address each of the risks, namely to hold the bottom line of security, safeguard the right to development, and cement solidarity. He called on all parties to uphold the Shanghai Spirit, and work together to keep the SCO on the right course forward. As President Xi stressed, countries in the SCO need to bear in mind that they live in a community with a shared future, always uphold the Shanghai Spirit, and stay firmly on the development paths that suit their respective national conditions and regional realities. He advocated building the SCO's common home of solidarity and mutual trust, peace and tranquility, prosperity and development, good-neighborliness and friendship, and fairness and justice," she said.

"President Xi Jinping's important speech was well received. The participants at the summit expect China to lend fresh impetus for the SCO as it takes over the presidency of the organization. They stressed that they will stay committed to the SCO, further tap into the potential for cooperation, fully expand and deepen cooperation, and ensure the outcomes of cooperation can be better delivered to the people. We are convinced that the SCO members will follow the trend of the times, move forward together in solidarity and cooperation to realize the aspirations of our people for a better life and jointly build up strong momentum for upholding world peace and development," Mao said.