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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

The Japanese yen has held gains, since December 2019 it has increased over 2% against G10 majors. If we continue to see second waves in infections, safe haven demand for the yen could increase, especially as the US’s COVID-19 recovery is drawn out and outlook for the USD is negative, at least until the elections.

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

   
Recent AED to JPY 90-day trend
 
1-DAY0.9% (2d)14-DAY-HIGH (1d)
AED to JPY at 29.02 was trading 0.4% below AVG:29.14 with LO:28.51 and HI:29.84 (90 days). There are no current rate alerts.

United Arab Emirates Dirham to Japanese Yen - Historical Rates

AED/JPY ratePeriod
03 Aug 2020 : 28.86721 Week
11 Jul 2020 : 29.105630 Days
12 May 2020 : 29.177490 Days
11 Aug 2019 : 28.69241 Year
12 Aug 2015 : 33.84375 Years
13 Aug 2010 : 23.432510 Years
AED/JPY 10 year historic rates
 

د.إ1,000 AED
=
¥29,018 JPY

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

 
 

United Arab Emirates Dirham to Japanese Yen - Quick Conversions

AED JPY
د.إ 1 ¥ 29.02
د.إ 5 ¥ 145.10
د.إ 10 ¥ 290.20
د.إ 20 ¥ 580.40
د.إ 50 ¥ 1,451
د.إ 100 ¥ 2,902
د.إ 250 ¥ 7,255
د.إ 500 ¥ 14,510
د.إ 1,000 ¥ 29,020
د.إ 2,000 ¥ 58,040
د.إ 5,000 ¥ 145,100
د.إ 10,000 ¥ 290,200
د.إ 50,000 ¥ 1,451,000
د.إ 100,000 ¥ 2,902,000
More amounts
AED JPY
د.إ 0.0345 ¥ 1
د.إ 0.1723 ¥ 5
د.إ 0.3446 ¥ 10
د.إ 0.6892 ¥ 20
د.إ 1.7231 ¥ 50
د.إ 3.4461 ¥ 100
د.إ 8.6153 ¥ 250
د.إ 17.23 ¥ 500
د.إ 34.46 ¥ 1,000
د.إ 68.92 ¥ 2,000
د.إ 172.31 ¥ 5,000
د.إ 344.61 ¥ 10,000
د.إ 1,723 ¥ 50,000
د.إ 3,446 ¥ 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.

 

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.


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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