Japan's currency, the yen, has fallen to its lowest level against the dollar in 20 years.
126 yen had to be paid for one dollar on Wednesday morning, more than at any time since 2002. The reason is the widening gap between the Japanese central bank's loose monetary policy and the gradual tightening in the USA, where the central bank heralded the turnaround in interest rates in mid-March and raised the key interest rate had.
The yen had already lost 10 percent of its value against the dollar in the past year.
"The Japanese yen is one of the weakest currencies worldwide this year," bank analysts said last week.
They also pointed to Japan's high dependence on fossil fuel imports as an explanation.
Japan's Prime Minister Fumio Kishida declined to comment on the weak yen on Tuesday.
"I will not comment on exchange rates, but their stability is important and I think rapid fluctuations are not desirable," he said.