The Japanese yen is often considered a safe currency due to Japan’s strong economy and low inflation rate. The country has a high level of domestic savings, a large trade surplus, and a strong government debt rating. Additionally, the Bank of Japan, the country’s central bank, has a reputation for maintaining stability in the currency markets. These factors contribute to the yen being seen as a safe haven currency, especially during times of economic uncertainty or crisis. (Written by OpenAI’s ChatGPT)
The abilities of ChatGPT are amazing. So I used it for writing a few sentences for today’s post.
Based on the recent (December, 2022) decision of the Bank of Japan regarding the bond yield the value of the Japanese yen strengthened. Therefore I considered to add yen to my portfolio, that I did on 9 January 2023. At that time YEN / EUR was at 0,0071, now its slightly stronger at the 0.0072 exchange rate. And especially because I bought it for Hungarian forint (YEN / HUF 2.81 then and 2.86 now) it seems to be a good decision even in the short term.