Growing use of local currencies in Japanese trade with Asian countries

Takatoshi Ito, Satoshi Koibuchi, Kiyotaka Sato and Junko Shimizu in this research:

Japan exports to neither advanced nor Asian countries in yen, as would be expected. Using questionnaire data, this column shows why Japanese exporters tend to choose destination currencies in their exports to advanced countries and why the US dollar, rather than the yen, is more often used in their exports to Asia. It also presents new evidence that the share of local currency has recently increased markedly, while that of the US dollar has declined, in Japanese exports to Asia. 

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