Dollar Falling Drastically Versus Yen!!!
Mar 14, 2008 | 8:50 pm
#16
Join Date: Jul 2007
Location: KUL/TPA/OTP
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Posts: 3,140
Mar 15, 2008 | 7:49 am
#17
Join Date: Feb 2003
Location: AUS
Programs: DL PM 2MM HH LTD
Posts: 1,857
This dive in the USD versus the Yen is killing me. The hardest part is the volatility. If it just went down gradually over time, I could adjust. Now, I have to try to time switching over money in time to pay rent at best rate I can. I am betting on rebound by the dollar in the last week of March; at least to 103 or 104 to come out ahead.
As for tourists, just use Citibank ATM at Narita.
Marc
As for tourists, just use Citibank ATM at Narita.
Marc
Mar 15, 2008 | 10:05 am
#18
Original Poster
Join Date: Apr 2006
Location: DFW/SEA
Programs: *A Silver, AA Gold + Miles Scattered Everywhere.
Posts: 2,045
well, i exchanged my money straight through my uncle who lives in hong kong, but does business with the japanese. didn't have to pay the bank fees and stuff...and we mutually agreed on the rate of 107 a couple weeks ago. so i guess luck was on my side this time.
i just hope i exchanged enough to survive 4 months without doing it again...hoping that the rate goes back up if i do.
im glad i have connections!
i just hope i exchanged enough to survive 4 months without doing it again...hoping that the rate goes back up if i do.
im glad i have connections!
Mar 15, 2008 | 11:32 am
#19
Join Date: Aug 2005
Location: EWR
Programs: UA (former CO), TrueBlue, Etc.
Posts: 291
If you live in an area where Commerce Bank does business (www.commerceonline.com) and you travel a lot, open a credit and a checking account. They do not charge any ForEx fee, and they even eat the 1% fee charged by Visa. I actually think they'll waive the ATM fees as well.
Mar 16, 2008 | 6:24 pm
#20
Join Date: Jan 2007
Posts: 5,679
About 18 months ago I think I was exchanging at 130~ to the dollar. Seemed pretty nice. But to put a little perspective on this, my old Lonely Planet guide book from the mid 2000's lists the exchange rate at the time of printing at 105. Still, showing up in Tokyo and seeing 98 on the board was a bit of a shock.
Mar 16, 2008 | 6:40 pm
#21
Join Date: Feb 2005
Location: NYC
Programs: UA/HH/Marriott Gold
Posts: 2,612
Mar 17, 2008 | 10:49 am
#25
FlyerTalk Evangelist
Join Date: Nov 1999
Programs: FB PLT again afater a decade as plebian
Posts: 22,940
IIRC, that little episode was due to Japanese corporation repatriating masive amounts of Yen (bought with USD) for some accounting reason which overwhelmed the market. This decline is probably more due to fundementals, sentiment, and long-term correction.
Mar 17, 2008 | 6:09 pm
#26
Join Date: Jul 2001
Location: Ani Ichibanya
Programs: WWMFD
Posts: 6,292
Mar 17, 2008 | 7:27 pm
#27
Join Date: Jul 2001
Location: Ani Ichibanya
Programs: WWMFD
Posts: 6,292
FWIW:
TOKYO (Nikkei)--The yen is likely to continue facing upward pressure as pessimism about the U.S.'s financial woes and economic outlook accelerates the decline in the value of the dollar, market participants in a Nikkei survey predict.
Many believe that the greenback, which briefly sank to the 95 yen level Monday, could fall to 90-93 in April or May.
Sumitomo Mitsui Banking Corp.'s Daisuke Uno says the dollar could depreciate to around 90 yen by the end of this month. JPMorgan Chase Bank's Junya Tanase also sees a low of around 90, but by June.
Many believe that the greenback, which briefly sank to the 95 yen level Monday, could fall to 90-93 in April or May.
Sumitomo Mitsui Banking Corp.'s Daisuke Uno says the dollar could depreciate to around 90 yen by the end of this month. JPMorgan Chase Bank's Junya Tanase also sees a low of around 90, but by June.
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Mar 18, 2008 | 1:08 am
#30
Join Date: Dec 2002
Location: Tokyo, Japan
Programs: JAL Global Club & oneworld Sapphire, ANA SFC & Star Alliance Gold
Posts: 4,563
I am awfully glad right now that I get paid in Yen. Kind of makes up for the horrible luck I've had in the past with exchange rates. (Like when I was a poor student in Japan living on USD and the exchange rate went to 85!! And then as soon as I started working and receiving salary in Yen the rate went the other way and hit 140!!)