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YEN GROWING MORE POPULAR The Japanese yen is becoming more widely used in international transactions. This growth is due to its stable purchasing power and Japan’s increasing importance in the world economy. However, contrary to speculation, a recently released economic report says there is no indication the yen will replace the U.S. dollar as a key international currency. Ramon Moreno, a senior economist for the Federal Reserve Board of San Francisco, reports Japan’s total share in world trade rose from 3% to 8% between 1960 and 1994, compared with the U.S. share of 14% in 1994. Japan also has maintained the lowest inflation rate among industrialized countries (2.5%) since 1980, making the yen popular for its stability. This growth in world trade has not caused a correlating increase in the use of the yen. Several indicators show the yen is still not as widely used as the doll
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