Travelers, take note: Yen weakens, NT dollar strengthens — buy a hair dryer and save NT$246

Reported by You T-Ru / Taipei
 



▲ The depreciation of the yen makes it a great time for Taiwanese travelers to shop in Japan. (Photo / File photo)

On the 21st, the Bank of Taiwan’s listed cash selling exchange rate for the yen was 0.2919, and by the 29th, the cash selling rate had dropped to 0.2796, meaning the NT dollar has appreciated by 4.4 percent. Tang Kuei-chen, CEO of Tang Kuei-chen International Travel Agency, which specializes in Japanese travel, pointed out that while the negative interest rate situation for the yen has minimal impact on the travel industry, it presents a great opportunity for travelers to shop in Japan. Especially as Japan has opened visa-free entry for many Asian countries, coupled with rising labor costs and supply-demand issues that have led hotels and shops to raise prices, Tang Kuei-chen suggests that travelers visiting Japan during the Spring Festival should take advantage of the weaker yen to go on a shopping spree.

Calculating this exchange rate change with Japan’s super-popular N97 hair dryer — priced at 20,000 yen per unit — as an example, the hair dryer, which used to sell for around NT$5,838, yesterday dropped to NT$5,592, saving you a full NT$246. This is a relative benefit for those planning to shop in Japan.