'[WikiEN-l] Error in your explanation about Plaza Accord and'

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List: wikien-l
Subject: [WikiEN-l] Error in your explanation about Plaza Accord and
From: "Minoru Mochizuki" <minoru.mochizuki () verizon ! net>
Date: 2003-12-20 14:52:06
Message-ID: 02aa01c3c708$d6e455a0$210110ac () S0030276748
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Your explanation that Japanese yen "depreciated" against US dollar 
after the Plaza Accord is an error.  It was "appreciated," in other
words, the value of Jppanese yen increased against US dollar.

You say on http://en.wikipedia.org/wiki/Plaza_Accord: 
The Plaza Accord was an agrrement signed on September 22, 1985 to make the Japanese \
yen cheaper. 

In 1985, 1 US dollar was exchanged for 216 yen according to the table on the same \
page.  But the relative value of yen kept rising (appreciated, in other words) mainly \
because of the Plaza Accord until it reached 132 yen to a dollar in1988 according to \
said table.  If the intent of the Accord was to cheapen yen as you say, it obviously \
failed to achieve the objective completely.  Actually, the intent was to raise the \
value of yen against US dollar.

Yen has been going up steadly with some ups and downs here and there against US \
dollar since 1985, and it is now 108 yen to a US dollar, or a great appreciation, not \
depreciation.  Yen's value increased more than three times since 1945 when it was \
fixed at 360 yen to a dollar in 1945.

Now, everyone is concerned abou Chinese currency which is artificially suppressed for \
the benefit of Chinese export, by fixing it to US dollar.  People are saying that now \
is the time for the second Plaza Accord to free up the exchange ratio of Chinese \
currency against US dollar.

Minoru Mochizuki

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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
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<META http-equiv=Content-Type content="text/html; charset=iso-2022-jp">
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<DIV><FONT face=Arial size=2>Your explanation that Japanese yen "depreciated" 
against US dollar </FONT></DIV>
<DIV><FONT face=Arial size=2>after the Plaza Accord is an error.&nbsp; It was 
"appreciated," in other</FONT></DIV>
<DIV><FONT face=Arial size=2>words, the value of Jppanese yen increased against 
US dollar.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>You say on <A 
href="http://en.wikipedia.org/wiki/Plaza_Accord">http://en.wikipedia.org/wiki/Plaza_Accord</A>: 

The Plaza Accord was an agrrement signed on <A 
class=internal title="September 22" 
href="http://en.wikipedia.org/wiki/September_22">September 22</A>, <A 
class=internal title=1985 href="http://en.wikipedia.org/wiki/1985">1985</A> to 
make the Japanese <A class=internal title=Yen 
href="http://en.wikipedia.org/wiki/Yen">yen</A> cheaper. 
In 1985, 1 US dollar was exchanged 
for&nbsp;216 yen according to&nbsp;the table on the same&nbsp;page.&nbsp; But 
the&nbsp;relative value of yen kept rising (appreciated, in other&nbsp;words) 
mainly because of the Plaza Accord&nbsp;until it reached&nbsp;132 yen to a 
dollar in1988 according to&nbsp;said 
table.&nbsp; If the intent of the Accord was to cheapen yen as you say, it 
obviously failed to achieve the objective&nbsp;completely.&nbsp; Actually, the 
intent was to raise the value of yen against US dollar.
Yen has been going up steadly with some ups and downs 
here and there&nbsp;against US dollar since 1985,&nbsp;and it is now 108 yen to 
a US dollar, or a great appreciation, not depreciation.&nbsp; Yen's value 
increased more than three times since 1945 when it was fixed at 360 yen to a 
dollar in 1945.
Now, everyone is concerned abou Chinese currency 
which is artificially suppressed for the benefit of Chinese export, by fixing it 
to US dollar.&nbsp;&nbsp;People are saying that now is the time for the second 
Plaza Accord to free up the exchange ratio of Chinese currency against US 
dollar.
Minoru Mochizuki</DIV></BODY></HTML>

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