Yen’s purchasing power sinks to 53-year low, one-third of peak

Currencies

Besides US dollar, the currency also falls against Chinese yuan and Thai baht

The yen’s real effective exchange rate in January sunk to the lowest level since 1973. (Photo by Nanami Sato)

TOSHIHIRO SATO and AYAKA YOSHINO

February 21, 2026 02:05 JST

TOKYO — The yen’s overall strength hit a 53-year low last month against major currencies, falling to a third of its 1995 peak, as Japan’s prolonged economic weakness takes a toll on the currency’s purchasing power.