S$1 to 125.31 yen: S'pore dollar hits another record high against Japanese yen

The Japanese yen fell to its weakest level against the Singapore dollar on Jun. 30, 2026.

It slid to 125.49 yen per S$1 before paring some losses.

It was trading at 125.31 yen at 10:48am Singapore time.

The Japanese currency is down about 2.9 per cent against the Singapore currency to date in 2026.

The Singapore dollar has strengthened by more than 52 per cent against the yen in the last five years.

In July 2021, S$1 was equivalent to 81 yen.

Japanese authorities could intervene

The yen is also the weakest against the U.S. dollar since 1986, as it extended its decline to 162.33 as at 10:55am in Tokyo on Jun. 30.

The Japanese government is expected to call for monetary management, Bloomberg reported.

The authorities there have entered the market several times to defend the currency, which started on Apr. 30, 2026.

Analysts differ on the reasons for the yen’s long decline, and if or how it can be halted, it was also reported.

The last time the yen traded at this level against the U.S. dollar was when Japan was experiencing a massive and years-long rally in the 1980s.

A currency accord engineered by the U.S. ensued, which led to a lost generation for the economy.

However, the current currency weakness is boosting the profits of exporters, and in turn helping the nation’s stock market to record highs.

In other words, even as the yen is sliding, Japan is on its way out of an economic funk that lasted for a generation.

On the other hand, import costs are swelling and hurting consumers.

Most notably, oil and gas shipments priced in U.S. dollars is increasing inflation and threatening to undermine the popularity of Prime Minister Sanae Takaichi’s government.