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Originally Posted by abmj-jr
(Post 11174775)
Tell me about it. For the first time ever, I am seriously considering cancelling an eagerly awaited trip back in April. I've got my C award seats on ANA but am looking at 88 yen/dollar for everything else and feeling a little sick.
I haven't made any decisions yet but the currency situation isn't making it easy for discretionary spenders to come to Japan. At least those of us who have to start with dollars. Or, apparently, won, yuan or TWD. We're back in Tokyo in April also. I'll be packing the Brita water filter, taking some flasks and forbidding all contact with those darn vending machines. However, with the current exchange rate, prices become earily similar to those found in London's West End. I anticipate a marvellous and full two week visit despite my pauper status. Ganbarimasu!!! |
Originally Posted by jib71
(Post 11174958)
Why is Y88/USD today worse than Y72/CAD last month?
Originally Posted by Braindrain
(Post 11174788)
Y88/USD? That's better than what I had to put up with last month - around Y72/CAD.
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Yikes. Time for me to watch the Yen/CAD exchange rate until this summer. I remember last year when it was around 100-en/CAD.. Talk about a good time to shop!! ;)
Sanosuke! |
Originally Posted by Braindrain
(Post 11176685)
You have it backwards.
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Einstein's theory of relativity.
To a Canadian tourist, the exchange rate is comparatively worse than to an American tourist. |
I too am cringing at the USD-JPY rate of 88...I am praying it will move up at least to 95 or so by April when I go. I pine for the days of 123, which strangely was not more than a year and some change ago.
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I cringed quite a bit at GBP-JPY and EUR-JPY (my memory of JPY rate as it felt 'right' was £1=Y260, so the current exchange rate seems unbelievably bad), so I went and got myself a short contract that pays in JPY so that I don't feel so "exchange rate conscious" while I'm in Japan.
Last time I was there late last year, I ended up doing a big item shopping (bought myself a 9mm akoya pearl necklace), so I wanted to 'hedge my bet' by having some 'native' JPY in my pocket. |
Short version from Nikkei
Occupancy Rates Near Record Lows At 3 Venerated Tokyo Hotels TOKYO (Nikkei)--Occupancy rates at Japan's three most prestigious hotels -- the Imperial Hotel Tokyo, Hotel Okura Tokyo and Hotel New Otani Tokyo -- dwindled to historic lows last month with the global recession crimping patronage from foreign tourists and domestic business travelers. The 1,005-room Imperial Hotel Tokyo saw its occupancy rate tumble to 59.6%. Excluding periods of renovations, this is the lowest since the 58% recorded in December 1986, when the strong yen kept overseas visitors away. Occupancy rates usually fall in January, but only to around 70%. Hotel Okura Tokyo had an occupancy rate of 45% last month. Except for 1973, when a separate wing was opened, this is the lowest figure for the 833-room hotel since it opened in 1962. Hotel New Otani Tokyo came in last of the three, with an occupancy rate of 37%. A drop in foreign tourists is the main reason behind these lackluster figures. According to the Japan National Tourist Organization, visitors from overseas declined on a year-on-year basis for five months straight since August 2008. |
Originally Posted by biggestbopper
(Post 11169589)
Perhaps brought on by all the executions when Japan occupied Korea?
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Despite the low tourism in Japan, I think Japanese (as in individuals) are temporarily enjoying the strength of their currency as they flock to Korea and other countries for shopping...
Last few times I was transiting in ICN and flying to NRT or other destinations, I saw most of Japanese pax with one or more large duty free shopping bags containing Hermes, Gucci, named brand goods in large boxes. Certainly, strong currency for their aggregate domestic economy (and companies) and foreign trade is not good for Japan and that can ultimately influence individual Japanese citizens in relatively short period. |
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