Weak Yen at 40-Year Low Set to Hand Japan's Carmakers $5.8 Billion Windfall
Japan's yen has fallen to a 40-year low, and despite government efforts to stem the slide, the weak currency is projected to deliver the country's carmakers a $5.8 billion profit windfall this year. The cheap yen inflates the value of overseas earnings when converted back into domestic currency, benefiting major exporters. Japan is simultaneously attempting to put the brakes on further depreciation.
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