10 Worst Performing Currencies of 2024

5. Japanese Yen

1 USD = 150.60 JPY

2024 Returns: -10.3%

The Japanese yen’s devaluation, which recently reached its lowest level in almost a half-century, has had a varied effect on the country’s economy, including higher import costs and fiscal issues, despite the Bank of Japan’s attempts to curb inflation. The BoJ has tightened monetary policy gently, eliminating negative rates on the uncollateralized overnight call rate in March 2024, raising the aim to 0.25% in July 2024 and 0.5% in January 2025. The change in July resulted in a 6% gain in the yen and a 12% decline in the stock market. Moreover, the weak yen boosted the prices of imported energy and food, raising the average family costs in 2024 by 90,000 yen ($590).