Japanese Yen plunges to 163 versus US dollar for first time in over 39 years

NEW YORK (Kyodo) -- The yen briefly hit 163 against the U.S. dollar in New York on Tuesday, a level unseen since December 1986, as investors sought the U.S. unit as a safe asset amid growing uncertainty over the U.S.-Israeli war on Iran.

The dollar is perceived as a relatively safe currency in times of crisis, such as during wars.

A weak yen inflates the cost of imports for everything from energy to food, dealing a blow to resource-poor Japan and its tens of millions of households.

In NYC at 2:15 p.m., the dollar fetched 163.81 yen.

[https://mainichi.jp/english/articles/20260722/p2g/00m/0bu/006000c](https://mainichi.jp/english/articles/20260722/p2g/00m/0bu/006000c)