Finance Minister Gets $100 Bill as Birthday Present
TOKYO (AP) _ Finance Minister Yoshiro Hayashi, who has been fighting against speculative moves daily on the foreign exchange market, received a $100 bill from his daughter as a birthday gift.
″It’s up to papa whether it will gain further value or not,″ Hayashi’s daughter Reiko wrote in a short message to her father, who turned 66 on Wednesday.
Yoshimasa Hayashi, his son and a secretary to his father, said Reiko chose the U.S. note as a symbolic gift to their father, who has been struggling to stem the Japanese yen’s rapid rise against the dollar in recent months.
In a regular news conference Friday, Hayashi said the yen’s appreciation against the dollar would prove temporary.
Since Feb. 2, the Japanese currency has gained 14.5 percent in value against the U.S. currency.
The Japanese blame it on statements from U.S. officials supporting a stronger yen as one way to help trim the huge U.S. trade deficit with Japan, which totaled $49.6 billion last year. The Americans say they don’t want a devalued dollar and blame the yen’s rise on foreign exchange speculators.