DOLLAR BRIEFLY RISES TO UPPER 159 YEN LEVEL, HIGHEST SINCE JULY 2024

TOKYO, March 13 (Bernama-Kyodo) --  The US dollar briefly rose to the upper 159 yen range on Friday afternoon, its highest level since July 2024, amid growing concern that the West Asia crisis could be prolonged, Kyodo News said.

The dollar hit 159.68 yen in the afternoon, despite Finance Minister Satsuki Katayama's comments earlier in the day that the government is ready to implement all possible steps on foreign exchange at any time and under any conditions, dealers said.

At 2 p.m., the dollar fetched 159.50-51 yen compared with 159.31-41 yen in New York and 158.78-81 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.1503-1504 and 183.47-50 yen against $1.1505-1515 and 183.38-48 yen in New York and $1.1551-1552 and 183.43-47 yen in Tokyo late Thursday afternoon.

Concern grew over the West Asia conflict after Iran's new supreme leader Mojtaba Khamenei said Thursday, in his first statement, that the Islamic Republic will continue attacks on US bases in neighbouring countries and maintain the closure of the Strait of Hormuz, a key oil shipping channel.

Tokyo stocks remained under pressure in the afternoon as selling was spurred by a surge in crude oil prices, which heightened worries about an economic slowdown fueled by inflation.

At 2 p.m., the 225-issue Nikkei Stock Average fell 757.26 points, or 1.39 per cent, from Thursday to 53,695.70, after briefly sliding over 2 per cent in the morning. The broader Topix index was down 27.76 points, or 0.76 per cent, at 3,622.09.

-- BERNAMA-KYODO