Story: International economic relations

US dollar–yen exchange rate, 1971 to 1989

The exchange rate between the Japanese yen and the US dollar was a measure of the vitality of the Japanese economy, and of US pressure on Japan to allow the yen to increase in value, thereby in theory making it easier for American companies to do business in Japan. The most dramatic shift in value came after the Plaza Accord of 1985, when the dollar went from buying just under 250 yen to under 150 yen in two years.

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How to cite this page:

Malcolm McKinnon, 'International economic relations - Japan and New Zealand', Te Ara - the Encyclopedia of New Zealand, (accessed 29 May 2024)

Story by Malcolm McKinnon, published 11 Mar 2010