18 Dec '11, 12am

Japanese eateries in Singapore hit by strong yen

Japanese eateries in Singapore hit by strong yen

With the exchange rate so high, Madam Emerlin Toh (front) and her family will not be making impulse buys during their 10-day holiday in Hokkaido and Tokyo. -- ST PHOTO: DESMOND WEE By Huang Lijie Chef Ronnie Chia of Japanese restaurant Tatsuya in Scotts Road thought his business had weathered the worst a few months ago. Diners were recovering their appetite for Japanese produce after the Japan quake and nuclear scare in March, and restaurant sales were climbing back up. But he soon found himself caught in a fix as the Japanese yen strengthened and rose to at least a 14-year high against the Singapore dollar on Oct 3, at 100 yen to $1.72. The previous high was on Jan 23, 2009, at $1.69. Mr Chia's restaurant imports seafood and vegetables directly from Japan, and with the yen hovering around the strong rate of $1.50 to $1.60 this year, the cost of ingredients has increased b...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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