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Foreign Exchange Guide to Japan

Read this currency guide to Japan with money transfer and travel tips.   [USD/JPY=109.9251]

 
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

In early January, amid a “flash crash” USD/JPY briefly struck a 9-month low (yen high) of ¥104.65, and other yen rates also struck long-term lows. These values greatly flattered the yen and market rebounds followed quickly.

Since then, the yen has been the weakest major currency, and in March USD/JPY was 6 percent higher, back in the 111s.

In the second week of March, Goldman Sachs said it was betting on yen appreciation; it expected Japan’s currency to be “the main beneficiary of the current data backdrop.”

In late February, experts at French bank Credit Agricole also expressed bullishness, saying it was the right time to acquire yen.

The interactive chart below shows the USD to JPY exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-JPY 3 Month chart
USD-JPY 3 Month chart
USDJPY currency converter

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? Shop-around with multiple providers: Get Quotes
Travel Money Providers
Ratings & Reviews
Amount JPY(¥)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
102,900 JPY
102.906.39%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
101,871 JPY
1,029 JPY
102.9$107.33%Branch-
Wells Fargo Bank logo
100,842 JPY
2,058 JPY
102.9$208.26%Branch-
 
Travelex Online US logo
98,265 JPY
4,635 JPY
98.26490^10.61%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:102.9 (6.39% from mid-rate)
JPY amount:102,900 JPY
Total Cost:6.39%
Time:6:06 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:96.18 (12.5% from mid-rate)
JPY amount:101,871 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:102.9 (6.39% from mid-rate)
JPY amount:100,842 JPY
Total Cost:8.26%
Time:6:06 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:98.2649 (10.61% from mid-rate)
JPY amount:98,265 JPY
Total Cost:10.61%
Time:
Rate Fetched: Sat Mar 23 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:
 
 

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? Shop-around with multiple providers: Get Quotes

USD-JPY Foreign Transfers - Compare

Foreign Transfer Providers
Ratings & Reviews
Receive JPY(¥)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
1,080,700 JPY
Best Overall
108.070^1.69%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TransferWise logo
1,088,222 JPY
7,522 JPY
109.38$511%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
1,058,192 JPY
22,508 JPY
106.01183.74%Online, Branch, Bank Transfers2-3 days
HSBC logo
1,057,412 JPY
23,288 JPY
105.9$153.81%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
1,050,978 JPY
29,722 JPY
105.71154.39%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
1,044,153 JPY
36,547 JPY
105.47$1005.01%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
1,044,153 JPY
36,547 JPY
105.47$1005.01%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:108.07 (1.69% from mid-rate)
JPY amount:1,080,700 JPY
Total Cost:1.69%
Time:
Rate Fetched: Sat Mar 23 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:109.38 (0.5% from mid-rate)
JPY amount:1,088,222 JPY
Total Cost:1%
Difference:
7,522 JPY more than using OFX
Time:6:06 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:106.01 (3.56% from mid-rate)
JPY amount:1,058,192 JPY
Total Cost:3.74%
Difference:
22,508 JPY less than using OFX
Time:6:06 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:105.9 (3.66% from mid-rate)
JPY amount:1,057,412 JPY
Total Cost:3.81%
Difference:
23,288 JPY less than using OFX
Time:6:06 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:105.25 (4.25% from mid-rate)
JPY amount:1,050,978 JPY
Total Cost:4.39%
Difference:
29,722 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:105.47 (4.05% from mid-rate)
JPY amount:1,044,153 JPY
Total Cost:5.01%
Difference:
36,547 JPY less than using OFX
Time:6:06 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:105.47 (4.05% from mid-rate)
JPY amount:1,044,153 JPY
Total Cost:5.01%
Difference:
36,547 JPY less than using OFX
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
 

Popular JPY cross rates


JPY/USD - Japanese Yen to United States Dollar - 10 Year History

DateExchange RatePeriod
10 Mar 20190.0090031 Week
15 Feb 20190.0090501 Month
18 Sep 20180.0089066 Months
17 Mar 20180.0094331 Year
17 Mar 20170.0088752 Years
18 Mar 20140.0098575 Years
19 Mar 20090.010610 Years

JPY/EUR - Japanese Yen to Euro - 10 Year History

DateExchange RatePeriod
10 Mar 20190.0080151 Week
15 Feb 20190.0080121 Month
18 Sep 20180.0076276 Months
17 Mar 20180.0076711 Year
17 Mar 20170.0082582 Years
18 Mar 20140.0070755 Years
19 Mar 20090.00773510 Years

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

DateExchange RatePeriod
10 Mar 20190.0069331 Week
15 Feb 20190.0070191 Month
18 Sep 20180.0067646 Months
17 Mar 20180.0067631 Year
17 Mar 20170.0071592 Years
18 Mar 20140.0059405 Years
19 Mar 20090.00728110 Years

JPY/AUD - Japanese Yen to Australian Dollar - 10 Year History

DateExchange RatePeriod
10 Mar 20190.01281 Week
15 Feb 20190.01271 Month
18 Sep 20180.01236 Months
17 Mar 20180.01221 Year
17 Mar 20170.01152 Years
18 Mar 20140.01085 Years
19 Mar 20090.015310 Years

JPY/CAD - Japanese Yen to Canadian Dollar - 10 Year History

DateExchange RatePeriod
10 Mar 20190.01211 Week
15 Feb 20190.01201 Month
18 Sep 20180.01166 Months
17 Mar 20180.01241 Year
17 Mar 20170.01192 Years
18 Mar 20140.01105 Years
19 Mar 20090.013010 Years

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