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Yen weakens past ¥160 per dollar, eroding intervention gains

japantimes.co.jp

11–20 of 74 posts

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#11
post #3

Earlier quoted context omitted.

Who charges their buddy 15 USD exchange fees on 100 USD? :(

He literally put 100USD in front of me, said he forgot to get more yen before his trip, and asked for a favor. Am I really in the wrong from your perspective?

Yes

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#12
post #3

I live in Japan and five years ago my drinking buddy at the time only had USD and was about to get on the shinkansen. He needed Yen ASAP. So he said, "dude I'll trade you a 100USD for 10000YEN." At the time it was an easy fifteen bucks or something profit after exchange, so I said, sure, here ya go. I put it in a drawer and forgot about it until a few weeks ago. I'm going to the moon with this, ladies and gentlemen

Who charges their buddy 15 USD exchange fees on 100 USD? :(

This is the kind of handwringing over $100 ethics I come to HN for!

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#14
post #3

I live in Japan and five years ago my drinking buddy at the time only had USD and was about to get on the shinkansen. He needed Yen ASAP. So he said, "dude I'll trade you a 100USD for 10000YEN." At the time it was an easy fifteen bucks or something profit after exchange, so I said, sure, here ya go. I put it in a drawer and forgot about it until a few weeks ago. I'm going to the moon with this, ladies and gentlemen

Who charges their buddy 15 USD exchange fees on 100 USD? :(

It might have been a gift by his friend. You don't know the details, maybe the friend is more affluent, maybe op had already let him stay in his apartment and given him food and this was the friends covert attempt to even the scale without directly offering money.

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#15
post #4
post #3

Earlier quoted context omitted.

Who charges their buddy 15 USD exchange fees on 100 USD? :(

That's the wrong read. It's more that it's easy to understand. "I will give you a 100 dollar bill, please give me a 10,000 yen bill."

He must have been a very itchy man.

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#16
post #3

I live in Japan and five years ago my drinking buddy at the time only had USD and was about to get on the shinkansen. He needed Yen ASAP. So he said, "dude I'll trade you a 100USD for 10000YEN." At the time it was an easy fifteen bucks or something profit after exchange, so I said, sure, here ya go. I put it in a drawer and forgot about it until a few weeks ago. I'm going to the moon with this, ladies and gentlemen

Who charges their buddy 15 USD exchange fees on 100 USD? :(

[deleted]

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#17
post #13
post #5

The BoJ has to raise rates. Dumping Dollars to buy Yen is spitting in the wind.

TGA account has around $1T in it. So, Bessent has enough ammo to defend the castle of Japan.

It’s pointless. Setting money on fire to avoid the inevitable.

Since Bessent did what he did the whole issue has been swallowed up in the idiotic partisan maw of US politics, but it’s just a self-defeating effort by Japan to fight the market.

Re: Yen weakens past ¥160 per dollar, eroding intervention gains

#19
post #10

Earlier quoted context omitted.

He literally put 100USD in front of me, said he forgot to get more yen before his trip, and asked for a favor. Am I really in the wrong from your perspective?

If I was in that situation and I’d help my friend not try to make a buck off them when they are down. Between electronic transfer and just settle the debt later, isn’t really an excuse…

Please explain how the situation I described is me "trying to make a buck". You're saying he regretted the terms he presented, and is forever resentful that I didn't drag him to a bank to look up the exchange rate at the time?
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