The Japanese finance ministry has urged X, formerly known as Twitter, to remove an account impersonating its top currency diplomat, Masato Kanda. In an unusual English-language post on the social media platform, the ministry asked users not to engage with the impersonation account. Mr. Kanda plays a crucial role in Japan’s efforts to stabilize the yen’s value, being an influential voice among the country’s monetary policy makers.
The fake account, followed by around 550 users, now seems to have been suspended. There were no comments related to the yen or financial markets on the account, as reported by Reuters. The impersonation account’s recent posts seemed to mimic Mr. Kanda’s supposed trip to Ukraine earlier in the week.
In a post on X, the finance ministry confirmed the existence of the impersonation account and requested X to suspend it. However, X, which is owned by billionaire Elon Musk, has not yet responded to the BBC’s request for comment on the matter.
The yen has long been considered a safe haven in global financial markets, attracting investors during times of crisis. However, its value against the US dollar has declined in recent months. The Bank of Japan’s decision to maintain ultra-low interest rates, while other central banks raised rates, led to the weakening of the yen. As a result, the currency reached 143.89 against the dollar, its lowest level in over a month, last Thursday. The Bank of Japan has now allowed rates to rise more freely, potentially impacting the yen’s future value.
SOURCE: Ref Image from K-Love
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