10 June 2002, 08:51 Japan exporters revise assumed forex rates for H2 due to stronger yen - report
TOKYO (AFX-ASIA) - Major export companies are revising the exchange rates on
which they premise their business activities, betting on the further
appreciation of the yen, now that the Japanese economy appears to have hit
bottom and the economic outlook in the US has become uncertain, the Nihon Keizai
Shimbun said, citing industry sources.
It cited several companies as having revised their forex rate assumptions
for the second half, including Honda Motor Co and Fuji Heavy Industries Ltd and
major electronics manufacturers Fujitsu Ltd, Matsushita Electric Industrial Co
and Mitsubishi Electric Corp.
These companies are shifting their projected exchange rates to 120 yen to
the dollar for the second half of the current business year, from 130 yen for
the first half, it said.
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