The Japanese yen
continued last week its recent upward movement (TIME, March 1). As
Chinese merchants invested heavily in yen at Shanghai and Hongkong,
Japanese bankers watched the quotations creep up and up at Tokyo.
Before the week closed, parch-ment-skinned board-boys 'chalked up a
weird symbol meaning "One yen equals 47.312c today"the nearest
approach to parity (49.85c) since 1923.
To continue reading:
Want the full story?
Get TIME the way you want it
Week Digital Pass — $4.99
Pay-As-You-Go DIGITAL ACCESS — $2.99
Year ALL ACCESS — Just $30! Best Deal!
Print Magazine + Digital Edition +
Subscriber-only Content on TIME.com
Learn more about the benefits of being
a TIME subscriber
If you are already a subscriber sign up — registration is free!