The dollar is losing against the yen but while Japanese exporters have been reeling against its effects, Toyota Motor Corp. appears to have been hit the hardest. For the October-March period (the company’s second half in its fiscal period), Toyota has assumed an average dollar rate of 90 yen compared with 85 yen at Honda Motor and Nissan Motor.
Last Thursday, the dollar sank to a 14-year low of 86.29 yen. Despite this trend, the Japanese authorities have given no reassurances to exporters and have proclaimed repeatedly that they will not intervene to prop up the dollar.
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