this post was submitted on 14 Aug 2023
592 points (97.9% liked)

World News

39127 readers
3421 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 1 year ago (4 children)

One Japanese Yen is worth 0.7 pennies today.

[–] [email protected] 60 points 1 year ago* (last edited 1 year ago) (1 children)

You are right, the spot exchange rate at a given point in time is random and tells you nothing (nothing!) about the value or strength of a currency. Japan is a great example.

What, however, does indicate a weakening or economic downturn is the uncontrolled depreciation of a currency, which errodes savings, threatens foreign debt paybacks, and makes imports more expensive

The Yen is relatively stable for decades at its spot. The Rubel is sliding against monetary and fiscal efforts, which indicates deeper macroeconomic issues.

[–] [email protected] 2 points 1 year ago

"Deeper economic issues" is one of nicer things he's been called since he started openly warmongering.

[–] [email protected] 18 points 1 year ago

Year over year, the yen is down 8.3% vs USD

Year over year, the rouble is down 46.2% vs USD

[–] whats_a_refoogee 7 points 1 year ago

People aren't talking about absolute value. Being worth 0.01 of one dollar or 300 of one dollar doesn't say anything.

People are saying it with the context of the previous value.

If there is a headline saying Euro/dollar has reached 1.30, no one should be responding "so what, the Canadian dollar is 1.35". Because everyone knows the context of Euro/dollar not being near that rate for a long time.

[–] [email protected] 2 points 1 year ago

Ugh, don't remind me (I get paid in JPY).