For avid traveller to Japan, one of the best things to happen this week is the depreciation of Yen to SGD such that it is now 1SGD to 111 Yen

This is due to Bank of Japan's insistence to keep its interest rates at 0% with long term 10 year bond yields only allowed to go up to 1%. Globally, interest rates are at all time high, so Japanese money is leaving Japan and investing elsewhere. There is an economic movement within Japan where Japanese housewives dabble in foreign currency by putting their wealth in foreign currency deposits which are earning more interest overseas than in Japan bank accounts. 

Google "Mrs Watanabe Foreign Currency" and you will learn that Japanese households are holding a huge amount of their assets in Foreign Currency and not in JPY, reason being foreign currencies earn a