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Foreign Exchange Guide to Japan

Read this currency guide to Japan with money transfer and travel tips.   [USD/JPY=110.473]

 
Japan
Country Code:
JP
Domestic Currency:
Japanese Yen
Symbol - Code:
¥ JPY
Telephone Prefix:
+81

This is a foreign exchange guide to Japan, the Japanese Yen currency plus JPY transfers and travel tips.


In this Japan currency guide we take a look at :

  1. Japanese Yen info - general info about the Japanese Yen
  2. Japanese Yen in the markets - recent JPY moves and predictions from the FX markets
  3. Travelling in Japan - currency & money saving tips
  4. Buying Japanese Yen cash online - travel money for Japan
  5. Sending money to Japan - save on Japanese Yen bank transfers to Japan
  6. Japanese Yen exchange rates - latest & historic exchange rates.
  7. JPY News - the latest Japanese Yen related articles from our blog.

Japanese Yen (JPY) general currency information


What is the Japanese Yen currency code and symbol?

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


Which countries use the Japanese Yen?

It is the domestic currency in Japan.

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%).


Japanese Yen (JPY) in the markets

The yen was the star performer in the weeks leading up to this report (May-17), with appreciation driven by a flight to safety following a serious escalation in the US-China trade war. The benchmark yen rate, USD/JPY, was down in the mid-109s, having been as high as 112.4 in late April. Relatively speaking, against their April highs, other yen rates had fallen even more (NZD/JPY was down from 76 to 71.6).

In May, 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 details read the full article Japanese Yen Forecasts.

The interactive chart below shows the USD to JPY exchange rate and trend for the previous 3 months:

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 a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money ProvidersAmount JPY(¥)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
103,380 JPY
Compare
103.3806.4%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
102,346 JPY
1,034 JPY
103.38$107.33%Branch-
Wells Fargo Bank logo
101,312 JPY
2,068 JPY
103.38$208.27%Branch-
Travelex Online US logo
98,069 JPY
5,311 JPY
98.06910^11.2%Online order, Branch pickup, Home delivery2-3 days
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→JPY
USD amount:$1,000 USD
Fee:0
Exchange Rate:103.38 (6.4% from mid-rate)
JPY amount:103,380 JPY
Total Cost:6.4%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→JPY
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:96.64 (12.5% from mid-rate)
JPY amount:102,346 JPY
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→JPY
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:103.38 (6.4% from mid-rate)
JPY amount:101,312 JPY
Total Cost:8.27%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→JPY
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:98.0691 (11.2% from mid-rate)
JPY amount:98,069 JPY
Total Cost:11.2%
Time:
Rate Fetched: Wed May 22 2019 04:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
05/22/2019
 

Japan Trip Checklist    

 
  1. Compare JPY travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Japan
  3. Lonely Planet - world's best travel guide (coupon and deals)

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 foreign-transfer exchange 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 here).


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 our Send to JPY 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!

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer ProvidersReceive JPY(¥)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
OFX logo
1,091,800 JPY
Best Overall
109.180^1.14%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
TransferWise logo
1,097,673 JPY
5,873 JPY
110.33$510.61%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
1,069,072 JPY
22,728 JPY
107.1183.2%Online, Branch, Bank Transfers2-3 days
HSBC logo
1,068,395 JPY
23,405 JPY
107$153.26%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
1,061,839 JPY
29,961 JPY
106.81153.86%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
1,054,944 JPY
36,856 JPY
106.56$1004.48%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
1,054,944 JPY
36,856 JPY
106.56$1004.48%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:109.18 (1.14% from mid-rate)
JPY amount:1,091,800 JPY
Total Cost:1.14%
Time:
Rate Fetched: Wed May 22 2019 04:02:40 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:110.33 (0.1% from mid-rate)
JPY amount:1,097,673 JPY
Total Cost:0.61%
Difference:
5,873 JPY more than using OFX
Time:6:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:18
Exchange Rate:107.1 (3.03% from mid-rate)
JPY amount:1,069,072 JPY
Total Cost:3.2%
Difference:
22,728 JPY less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:107 (3.12% from mid-rate)
JPY amount:1,068,395 JPY
Total Cost:3.26%
Difference:
23,405 JPY less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:15
Exchange Rate:106.34 (3.72% from mid-rate)
JPY amount:1,061,839 JPY
Total Cost:3.86%
Difference:
29,961 JPY less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:106.56 (3.52% from mid-rate)
JPY amount:1,054,944 JPY
Total Cost:4.48%
Difference:
36,856 JPY less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→JPY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:106.56 (3.52% from mid-rate)
JPY amount:1,054,944 JPY
Total Cost:4.48%
Difference:
36,856 JPY less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
05/22/2019
 

JPY/USD - Japanese Yen to United States Dollar - Historical Rates

PeriodJPY/USDDate
1 Day0.00908518 May 2019
1 Week0.00912012 May 2019
1 Month0.00893519 Apr 2019
6 Months0.00887220 Nov 2018
1 Year0.00902819 May 2018
5 Years0.00986920 May 2014
10 Years0.010621 May 2009

JPY/EUR - Japanese Yen to Euro - Historical Rates

PeriodJPY/EURDate
1 Day0.00813818 May 2019
1 Week0.00811712 May 2019
1 Month0.00794519 Apr 2019
6 Months0.00780120 Nov 2018
1 Year0.00765719 May 2018
5 Years0.00720420 May 2014
10 Years0.00762921 May 2009

JPY/GBP - Japanese Yen to British Pound Sterling - 10 Year History

PeriodJPY/GBPDate
1 Day0.00714318 May 2019
1 Week0.00701112 May 2019
1 Month0.00687519 Apr 2019
6 Months0.00693820 Nov 2018
1 Year0.00670319 May 2018
5 Years0.00586120 May 2014
10 Years0.00670221 May 2009

JPY/AUD - Japanese Yen to Australian Dollar - Historical Rates

PeriodJPY/AUDDate
1 Day0.013218 May 2019
1 Week0.013112 May 2019
1 Month0.012519 Apr 2019
6 Months0.012320 Nov 2018
1 Year0.012019 May 2018
5 Years0.010720 May 2014
10 Years0.013721 May 2009

JPY/CAD - Japanese Yen to Canadian Dollar - Historical Rates

PeriodJPY/CADDate
1 Day0.012218 May 2019
1 Week0.012312 May 2019
1 Month0.012019 Apr 2019
6 Months0.011820 Nov 2018
1 Year0.011619 May 2018
5 Years0.010820 May 2014
10 Years0.012121 May 2009

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