TOKYO (MNI) – The average dollar-yen exchange rate for fiscal 2011
expected by major Japanese automakers in September was Y80.51, revised
down from Y81.59 projected three months earlier, according to the full
report of the Bank of Japan’s Tankan survey released Tuesday.
The survey showed that the carmakers expected dollar-yen to average
Y80.53 in the first half of fiscal 2011 and they forecast Y80.49 for the
second half ending March 2012.
Major electronics firms expect the dollar-yen rate to average
Y81.19 in fiscal 2011 — Y81.27 in the first half and Y81.13 in the
second half.
Meanwhile, major business machine makers expect dollar-yen to
average Y79.82 in fiscal 2011, down from Y81.59 three months before.
They expected the exchange rate to average Y80.18 in the first half and
estimate it at Y79.48 in the second half.
After hitting a record high of Y75.95 to the dollar on Aug. 19, the
yen remains generally strong. The dollar was quoted at around Y76.60 in
Asian trading on Tuesday morning.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$J$$$,M$A$$$,MMJBJ$,MAJDS$]
