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Yen's purchasing power hits all-time low, at one-third of peak

TOKYO -- Japanese households face a 90,000 yen ($560) increase in their yearly expenses from higher prices for food and energy imports, one estimate shows, as the country's weak currency drains purchasing power.

The yen depreciated as far as 161.20 to the U.S. dollar on Friday, the lowest in over 37 years. Japan's government said on Friday it will replace top currency diplomat Masato Kanda, but this announcement is expected to have limited impact on the market.

Read more on asia.nikkei.com