Fell below '5' again?!
熊猫速汇PandaRemit - 2023-08-18 14:01:00.0 104
So hot this year! In this scorching summer, if you ask what can be hotter than temperatures reaching 30-40 degrees Celsius, it must be the domestic and international tourism market...
Just recently, for friends who want to travel to Japan, these two weeks have been full of good news!
First, the Ministry of Culture and Tourism of the People's Republic of China announced the resumption of the third batch of outbound group tourism for certain countries and regions, and the popular destination, Japan, is among them. Panda's friends have been eagerly anticipating this moment, and their inner thoughts are like: after three years of waiting, group tours to Japan are finally allowed!
Furthermore, the Japanese yen exchange rate continues to decline, hitting a new low and breaking the "5" yuan mark. Simply put, with the same amount of Chinese yuan travel budget, you can now get more Japanese yen!
Source: Sina Finance
However, speaking of which, why did the Japanese yen experience this downward trend since August, despite the fact that it was on the rise in July?
Strengthening of the U.S. dollar
- In July, U.S. PPI (Producer Price Index) increased by 0.8% year-on-year, ending 12 consecutive months of decline.
- In July, U.S. PPI increased by 0.3% month-on-month, the largest increase since January 2023.
- In July, U.S. core PPI increased by 0.3% month-on-month, exceeding the expected 0.2%.
- In July, U.S. core PPI increased by 2.4% year-on-year, exceeding the expected 2.3%.
Overall, the U.S. PPI in July exceeded market expectations.
Source: Bloomberg News Agency
After the release of the data, market expectations of a rate hike by the Federal Reserve increased, causing a sharp rise in the U.S. dollar index.
At the same time, the U.S. dollar received broad support from comments made by Federal Reserve officials. They believe that there is still room for further interest rate increases.
Domestic data in Japan fell short of expectations
According to the survey results released by the Japanese Ministry of Internal Affairs and Communications on August 8th, Japan's actual household spending in June decreased by 4.2% year-on-year after excluding the impact of price factors. This marked the fourth consecutive month of year-on-year decline, further impacting the yen's performance.
In addition, Japan's inflation rate remains high.
At the same time, the wage growth in June in Japan was lower than expected. The year-on-year growth rate of cash earnings for workers decreased from a year-high of 2.5% in May to 2.3%, below the expected value of 3%. This supports the necessity for the Bank of Japan to continue its accommodative policy in the short term.
The Bank of Japan's persistence in maintaining an ultra-loose policy has kept the yen weak.
Everything has two sides. Although the yen has depreciated, Japan's tourism industry may experience a new upswing. After all, Japan has long been one of the main destinations for Chinese tourists.
Now that China has lifted the ban on group tours to Japan, the tourism and sales industries in Japan have already begun to anticipate the strong return of Chinese tourists and their explosive buying.
Major Japanese airlines are increasing flights between Tokyo, Osaka, and other central cities in China, as well as reopening large cruise ships for travel between Japan and China, in order to welcome the arrival of tourists.
With the stimulation of the tourism industry, the yen may also experience a new wave of growth.
Of course, for those who are planning to travel to Japan, now is the time to buy - the policy has been relaxed, the exchange rate is favorable, and there are more flights available. Panda reminds everyone that it is a good time to visit Japan. For those who are planning to work or study in Japan, don't forget to seize this opportunity and exchange currency in a timely manner!
About Us - Panda Remit
Panda Remit is a cross-border remittance online platform, which is committed to providing global users with safer, more convenient, reliable and affordable online cross-border remittance services. With user-friendly interface and advanced security features, Panda Remit is the best solution for anyone looking for a hassle-free way to make global remittance.
Panda Remit has the following features:
1. High safety degree - One of the key features of Panda Remit is its advanced security measures
All transactions are encrypted and monitored 24/7 to ensure the safety of your funds. What's more, Panda Remit uses state-of-the-art fraud detection technology to prevent unauthorized access from your account.
2. Convenient transfer environment - Panda Remit is equipped with currency calculator
The platform is available on Panda Remit official website or Panda Remit app, so that you can easily access your account and make transactions on-the-go. And users can transfer money in a variety of currencies,including US dollars, euros, HK dollars, pound, yen, etc,. Furthermore, it is also worth noting that Panda Remit provide 24/7 Chinese customer service, providing a familiar and intimate environment for overseas Chinese.
3.Simple operation process - Panda Remit has a user-friendly interface that makes it easy to navigate and use
Moreover, whether you need to pay bills or send money to friends and family in other countries, you just need to simply follow the operation tutorial provided by Panda Remit to create an account, link your bank account or credit card, and then you're ready to tranfer money globally. With just a few clicks, you can successfully send money to anyone, anywhere in the world you want.
4. Instant transfer - Panda Remit provides a quicker way to transfer money globally
Panda Remit is not only secure and convenient, but it is also fast. It allows for instant transfers between Panda Remit users, eliminating the need for waiting periods or processing times as much as possible. This feature is especially beneficial for people or businesses that require quick and efficient cross-border remittance.
5. Low handling fee - Panda Remit offers a range of exchange rates benefits to users
Panda Remit also offers competitive price compared to traditional remittance methods and other apps of the same kind. Thus, users can enjoy low transaction fees and competitive exchange rates and get high amount received when transferring money globally, which makes Panda Remit a cost-effective solution for individuals and businesses alike. Plus, the system would give coupons to first-time users.
In conclusion, Panda Remit provides a simpler and efficient online gloabl remittance way that offers a range of features and benefits to users. Nowadays, Panda Remit have opened global remittance service for more than 30 countries or regions worldwide, and helped users save nearly 100 million dollars in fees, which deeply recognized and trusted by millions of users around the world.
Panda Remit is the perfect solution for you to make cross-border remittance.
Please visit the Panda Remit official website or download the app, Panda Remit, for more detail information.
![跨境汇款中国](/attachment/20240906/9cc7e9c464fe42a7a980803dcace3f47.png)
![跨境汇款中国](/attachment/20240905/efc7fd16a3e741baba876ef9f9c00dc4.png)
![跨境汇款中国](/attachment/20240905/6fb147792d744656b3a37bcfc99ebd48.png)