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Japan - Japanese Yen - Currency Guide

 

Foreign exchange guide to Japan and the Japanese Yen (JPY)

   

General Currency Info - Japanese Yen

According to the Bank for International Settlements, in 2016, trading in the Japanese yen (ISO: JPY) contributed to 22% of total foreign exchange market turnover, making the yen the world’s third most traded currency.

Like government bonds and gold, the Japanese yen is considered a safe haven asset – it is the premier safe haven of the currency world. This means that the yen is likely to increase in value against other currencies during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

Since 1995, against the US dollar, the yen’s lowest valuation came in August 1998 when USD/JPY reached 147.67 (¥100 cost a little less than $0.68). Its post-1995 high came in October 2011 when USD/JPY traded at just 75.56 (¥100 cost $1.32).

The Japanese yen is a crucial part of the ‘carry trade’ – a popular strategy among foreign exchange traders in which they borrow in a currency with a low interest rate and use those funds to invest in currencies paying a higher rate. In recent decades, the most popular way to fund the carry trade has been to borrow (sell) yen due to Japan’s consistently low interest rates (since 1996 Japanese rates have averaged less than 0.5%).

   

JPY News, Forecasts and Trends

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

Earlier in the year the threat of proxy war between the US and Iran in Ira helped bring on gains in the Japanese yen and US dollar plus currencies pegged to the greenback such as the Hong Kong dollar.

Last year, HSBC warned against thinking that yen-supporting safe-haven flows would soon stop, implying that the yen could have more upside potential in the near term. The bank highlighted the “desolation and destruction” (an exaggeration) present in many major economies and currencies. “You can never get too high,” the bank’s chief analyst said.

For more JPY currency market forecasts you can read the full article Japanese Yen Forecasts. The below interactive chart shows the USD to JPY exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to JPY 90-day trend
 
1-DAY0.5% (1d) 14-DAY-HI (3d)
USD/JPY at 107.51 was trading near AVG:107.77 with LO:106.1 and HI:111.33 (90 days). There are no current rate alerts.

US Dollar to Japanese Yen - Historical Rates

USD/JPY historic rateChange to 03-JulPeriod
107.1800  26 Jun 20200.3% ▲1 Week
109.0020  03 Jun 20201.4% ▼30 Days
108.4290  04 Apr 20200.9% ▼90 Days
107.8215  04 Jul 20190.3% ▼1 Year
122.4502  05 Jul 201512.2% ▼5 Years
87.6291  06 Jul 201022.7% ▼10 Years
USD/JPY 10 year historic rates & changes to 03-Jul-2020 : 107.5065
 

U$1,000 USD
=
¥107,506 JPY

Converted at USD/JPY wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to Japanese Yen - Quick Conversions

USD JPY
U$ 1 ¥ 107.51
U$ 5 ¥ 537.55
U$ 10 ¥ 1,075
U$ 20 ¥ 2,150
U$ 50 ¥ 5,376
U$ 100 ¥ 10,751
U$ 250 ¥ 26,878
U$ 500 ¥ 53,755
U$ 1,000 ¥ 107,510
U$ 2,000 ¥ 215,020
U$ 5,000 ¥ 537,550
U$ 10,000 ¥ 1,075,100
U$ 50,000 ¥ 5,375,500
U$ 100,000 ¥ 10,751,000
More amounts
USD JPY
U$ 0.0093 ¥ 1
U$ 0.0465 ¥ 5
U$ 0.0930 ¥ 10
U$ 0.1860 ¥ 20
U$ 0.4651 ¥ 50
U$ 0.9302 ¥ 100
U$ 2.3255 ¥ 250
U$ 4.6510 ¥ 500
U$ 9.3020 ¥ 1,000
U$ 18.60 ¥ 2,000
U$ 46.51 ¥ 5,000
U$ 93.02 ¥ 10,000
U$ 465.10 ¥ 50,000
U$ 930.20 ¥ 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Japan?

The domestic currency in Japan is the Japanese Yen.

What is the Japanese Yen currency code and symbol?

The three letter currency code for the Japanese Yen is JPY — symbol is ¥.

Which countries use the Japanese Yen?

It is the domestic currency in    Japan.

Is the Japanese Yen a closed currency?

No, the Japanese Yen is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Japan

Though very expensive, Japan is one of the most amazing, beautiful, and friendly countries in the world. Japan is a high-tech world mixed with the politeness and respect of their past. It has all the benefits of a high tech country mixed with a lovely sense of the old. Japan has fantastic food, beautiful temples and shrines, zen gardens, national parks, and a culture with a long and rich history. It’s a wonderful place and, while it may be an expensive country to visit.

Most people can speak English and are willing to do so. Accommodation can be expensive, especially in Tokyo, but with a little looking around on the internet you can find some amazing deals. Food options cater to all, you can both go expensive or cheap, and neither is hard to find.

The easiest way to travel in Japan is by train, bullet trains can be expensive but are astoundingly fast and comfortable. Most of the city metro tickets cost 125-250 JPY for a single journey. In most major cities, you can buy a day pass, which gives you unlimited travel for 24 hours for around 1,000 JPY on select trains. Inter-city bus tickets cost around 2,500 JPY. For budget travelers the bus is an option, they are far cheaper but can take up to five times the amount of time to get to your destination.

Most temples and museums are free to enter, although some popular attractions cost around 1,250 JPY. The temples in Kyoto can cost up to 620 JPY. Many of the city’s parks are free, so take advantage when you can and spend the day there. The same for Tokyo, don't be afraid to get a decent map and wander around.

 

Travel money for Japan

Save money and time by Ordering your Japanese Yen online from Travelex, you get better rates and can pick up the JPY cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Japanese Yen otherwise you may get much worst exchange rates.

 
 

USD to JPY - Travel Money & Cards

Provider ReviewAmount JPY(¥)Exchange RateFee USDDeal Links
TransferWise
> Best Overall
¥105,365
1.99%
106.97U$15.00
U.S. Bank logo
U.S. Bank
¥100,630
6.4%
¥4,735 less
100.630
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
¥99,624
7.33%
¥5,741 less
100.6315
Wells Fargo Bank logo
Wells Fargo Bank
¥98,617
8.27%
¥6,748 less
100.63U$20
Travelex Online
¥95,648
11.03%
95.64830^
TransferWise
 
loading
TransferWise: Travel Money USD→JPY
From Amount (USD)U$1,000
Fee:U$15.00 USD (1.5%)
Exchange Rate:106.97 (-0.5% from mid-rate)
To Amount (JPY) ¥105,365
Total Cost:1.99%
Time:6:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Review:


U.S. Bank
 
loading
U.S. Bank: Travel Money USD→JPY
From Amount (USD)U$1,000
Fee:0
Exchange Rate:100.63 (-6.4% from mid-rate)
To Amount (JPY) ¥100,630
Total Cost:6.4%
Time:6:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Banks - Average Rate
 
loading
Travel Money USD→JPY
From Amount (USD)U$1,000
Fee:15
Exchange Rate:94.07 (-12.5% from mid-rate)
To Amount (JPY) ¥99,624
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-


Wells Fargo Bank
 
loading
Wells Fargo Bank: Travel Money USD→JPY
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:100.63 (-6.4% from mid-rate)
To Amount (JPY) ¥98,617
Total Cost:8.27%
Time:6:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Travelex Online
 
loading
Travelex Online: Travel Money USD→JPY
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:95.6483 (-11.03% from mid-rate)
To Amount (JPY) ¥95,648
Total Cost:11.03%
Time:
Rate Fetched: Sat Jul 04 2020 06:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Review:


 
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Snapshot 07/04/2020 - View live rates

Sending money to Japan

When searching around for information on how to get a good exchange rate when sending money to Japan you need to start with finding out the latest Japanese Yen exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

 

USD to JPY International Money Transfers

Provider ReviewReceive JPY(¥)Exchange RateFee USDDeal Links
XE
> Best Overall
¥105,890
1.5%
105.890
OFX
¥104,780
2.54%
104.780^
HSBC logo
HSBC
¥102,736
4.44%
¥3,154 less
102.89U$1.50
U.S. Bank logo
U.S. Bank
¥102,470
4.69%
¥3,420 less
102.470
Bank of America logo
Bank of America
¥100,933
6.11%
¥4,957 less
102.47U$15
Wells Fargo Bank logo
Wells Fargo Bank
¥100,930
6.12%
¥4,960 less
102.99U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
¥101,767
5.34%
¥4,123 less
102.7115
XE
 
loading
XE: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:
Exchange Rate:105.89 (1.5% from mid-rate)
To Amount (JPY) ¥105,890
Total Cost:1.5%
Time:6:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers
Rating:
 
: 3.5/5.0
Review:


Compare XE Rates
OFX
 
loading
OFX: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:104.78 (2.54% from mid-rate)
To Amount (JPY) ¥104,780
Total Cost:2.54%
Time:
Rate Fetched: Sat Jul 04 2020 06:02:41 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Review:


Compare OFX Rates
HSBC
 
loading
HSBC: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:102.89 (4.29% from mid-rate)
To Amount (JPY) ¥102,736
Total Cost:4.44%
Difference:
¥3,154 JPY less than using XE
Time:6:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare HSBC Rates
U.S. Bank
 
loading
U.S. Bank: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:0
Exchange Rate:102.47 (4.68% from mid-rate)
To Amount (JPY) ¥102,470
Total Cost:4.69%
Difference:
¥3,420 JPY less than using XE
Time:6:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare U.S. Bank Rates
Bank of America
 
loading
Bank of America: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:102.47 (4.68% from mid-rate)
To Amount (JPY) ¥100,933
Total Cost:6.11%
Difference:
¥4,957 JPY less than using XE
Time:6:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Bank of America Rates
Wells Fargo Bank
 
loading
Wells Fargo Bank: Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:102.99 (4.2% from mid-rate)
To Amount (JPY) ¥100,930
Total Cost:6.12%
Difference:
¥4,960 JPY less than using XE
Time:6:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Wells Fargo Bank Rates
Banks - Average Rate
 
loading
Foreign Transfer USD→JPY
From Amount (USD)U$1,000
Fee:15
Exchange Rate:102.26 (4.88% from mid-rate)
To Amount (JPY) ¥101,767
Total Cost:5.34%
Difference:
¥4,123 JPY less than using XE
Transfer Speed:
Services:


 
loading
Snapshot 07/04/2020 - View live rates

Get a better deal for foreign transfers to Japan

When sending money to Japan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Japanese Yen amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted JPY amount will be transfered to the recipient account you specify in Japan.

Use the above Send to Japanese Yen calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Japanese Yen deposited into the recipient bank account and less margins and fees kept by the banks!


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