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Article: Currency crusade.(includes related article on the Japanese yen)(Japan's efforts to boost the fortunes of the yen)
- Article from:
- The Banker
- Article date:
- August 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A special taskforce has been set up to boost the use of the yen in the international arena
As Eisuke Sakakibara bowed out last month from the position of vice-minister for international affairs at Japan's Ministry of Finance, his special brand of yen diplomacy (a mixture of verbal and real intervention in foreign exchange markets) appeared to become part of monetary history. But even as "MrYen" prepared to quit the international stage, larger forces began shaping the future of the Japanese currency.
Indeed, if the vision now shared by Japanese bureaucrats and politicians alike becomes reality, the yen will figure much more prominently in future in the ...