TAIPEI (Taiwan News) -- The Japanese yen today hit a six-month low opening at 0.2674 Taiwan dollars to the yen, or in other words 3.739 yen to the Taiwan dollar, which represents a large enough drop since September to allow Taiwanese to afford an extra ticket to Tokyo Disney.
According to the latest listing price of the Bank of Taiwan, the Japanese yen dropped to .2674 at the opening of trading, the lowest level in six months, after Seiji Maehara, the leader of the opposition Democratic Party resigned on Monday, Shinzo Abe's re-election today, and the Bank of Japan's announcement of a policy of monetary easing.
The current yen to Taiwan dollar rate of around the .26 is much lower than the .2811 rate seen on Sept. 8, which at the time was the equivalent to one Taiwan dollar worth 3.5575 yen.
If one compares the value of NT$50,000 (US$1,657) in yen between September (177,875 yen) and today (186,950 yen), the same amount of Taiwanese dollars is worth 9,075 more yen. That's enough to buy a ticket to Tokyo Disney (approximately 7,400 yen), and still have enough left over for two bowls of Ichiran Ramen.
Although Taiwanese tourists are looking forward to the yen hitting the .25 mark, a representative from Huiyin Smart Community Co., Ltd told ETtoday that although Japan's monetary loosening policy will continue to cause the yen to weaken somewhat, once the reaction to Abe's re-election subsides, the Japanese currency will likely start to strengthen again, unless the Taiwan dollar strengthens to below the NT$30 to US dollar mark.
The Huiyin Smart Community representative advised those who want to take advantage of the weak yen not to wait too long.