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Foreign Exchange Guide to Japan

Read this currency guide to Japan with money transfer and travel tips.   [USD/JPY=112.7632]

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 November, Societe Generale advised clients to accumulate “cheap” yen for a short-term increase in value.

For 2019, though, J.P. Morgan sees yen weakness. The bank points to Japan’s deteriorating trade balance and to what will likely be a further widening of the US-Japan interest rate differential. In November, JPM's researchers suggested a steady move in USD/JPY towards ¥125 by 2019 year-end, which represents yen depreciation of 9 percent from current levels. The bank's forecast is subject to Japan recording a trade deficit in 2019 and the 10-year US-Japan yield spread increasing by a further 30 basis points. The weakest the yen has been in the past 15 years is ¥125.85 to the dollar, achieved in the summer of 2015.

At the time of writing (9-Nov-18), the yen was slightly lower year-to-date against the US dollar, down 1.2 percent at ¥114; it was 4 percent stronger against the euro, at ¥130, and was 6 percent better off against the Australian dollar, at ¥83.

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.

 

Compare USD to JPY Travel Money Exchange Rates vs the Banks

USD $1,000 → Spend Japanese yen (JPY) Settings - Currency/Amount

ProvidersAmount JPYExchange RateCostReviewsDeals Links
Travelex Online US logoTravelex Online US
¥100,009 JPY
Top Provider
100.009311.28%
 
HSBC logoHSBC
¥99,010 JPY
¥999 less
99.0112.17%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo HSBC logo
¥97,683.33 JPY
¥2,326 less
98.3413.34%
Wells Fargo Bank logoWells Fargo Bank
¥97,030 JPY
¥2,979 less
99.0113.92%
U.S. Bank logoU.S. Bank
¥97,010 JPY
¥2,999 less
97.0113.94%
Travelex Online US fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:100.0093 (11.28% from mid-rate)
JPY amount:¥100,009 JPY
Total Cost:11.28%
Time:
Rate Fetched: Tue Nov 20 2018 22:00:04 GMT+0000 (UTC)
Rating:
 
: 4.3/5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:99.01 (12.17% from mid-rate)
JPY amount:¥99,010 JPY
Total Cost:12.17%
Time:0:07 Local
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo HSBC logo

Banks - Average Rate
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:98.63 (12.5% from mid-rate)
JPY amount:¥97,683.33 JPY
Total Cost:13.34%
Wells Fargo Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:99.01 (12.17% from mid-rate)
JPY amount:¥97,030 JPY
Total Cost:13.92%
Time:0:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:97.01 (13.94% from mid-rate)
JPY amount:¥97,010 JPY
Total Cost:13.94%
Time:0:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/JPY mid-rate: 112.7245
Rates @ 11/21/2018
 

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!

 

Compare USD to JPY Foreign Transfers vs the Banks

Send USD $10,000 → JPY Settings - Currency/Amount

ProvidersAmount JPYExchange RateCostReviewsDeals Links
OFX logoOFX
¥1,122,700 JPY
Top Provider
112.270.4%
 
Wells Fargo Bank logoWells Fargo Bank
¥1,064,081 JPY
¥58,619 less
106.65.6%
HSBC logoHSBC
¥1,063,303 JPY
¥59,397 less
106.495.67%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
¥1,056,843 JPY
¥65,857 less
106.36.25%
Bank of America logoBank of America
¥1,049,994 JPY
¥72,706 less
106.066.85%
U.S. Bank logoU.S. Bank
¥1,049,994 JPY
¥72,706 less
106.066.85%
 
OFX fee breakdown & reviews
USD amount:$10,000 USD
Fee:$0
Exchange Rate:112.27 (0.4% from mid-rate)
JPY amount:¥1,122,700 JPY
Total Cost:0.4%
Time:
Rate Fetched: 0:07 Local
Rating:
 
: 4.8/5.0
Reviews:
Wells Fargo Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$18
Exchange Rate:106.6 (5.43% from mid-rate)
JPY amount:¥1,064,081 JPY
Total Cost:5.6%
Difference:
¥58,619 JPY less than using OFX
Time:0:07 Local
Rating:
: /5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:106.49 (5.53% from mid-rate)
JPY amount:¥1,063,303 JPY
Total Cost:5.67%
Difference:
¥59,397 JPY less than using OFX
Time:0:07 Local
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Banks - Average Rate
USD amount:$10,000 USD
Fee:$15
Exchange Rate:105.84 (6.11% from mid-rate)
JPY amount:¥1,056,843 JPY
Total Cost:6.25%
Difference:
¥65,857 JPY less than using OFX
Bank of America fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:106.06 (5.91% from mid-rate)
JPY amount:¥1,049,994 JPY
Total Cost:6.85%
Difference:
¥72,706 JPY less than using OFX
Time:0:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:106.06 (5.91% from mid-rate)
JPY amount:¥1,049,994 JPY
Total Cost:6.85%
Difference:
¥72,706 JPY less than using OFX
Time:0:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/JPY mid-rate: 112.7245
Rates @ 11/21/2018
 

Major JPY cross rates


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

DateExchange RatePeriod
11 Nov 20180.0087831 Week
19 Oct 20180.0088851 Month
22 May 20180.0090316 Months
18 Nov 20170.0089221 Year
18 Nov 20160.0090442 Years
19 Nov 20130.0099845 Years
20 Nov 20080.010510 Years

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

DateExchange RatePeriod
11 Nov 20180.0077561 Week
19 Oct 20180.0077071 Month
22 May 20180.0076636 Months
18 Nov 20170.0075671 Year
18 Nov 20160.0085412 Years
19 Nov 20130.0073765 Years
20 Nov 20080.00842110 Years

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

DateExchange RatePeriod
11 Nov 20180.0067881 Week
19 Oct 20180.0067971 Month
22 May 20180.0067176 Months
18 Nov 20170.0067501 Year
18 Nov 20160.0073242 Years
19 Nov 20130.0061965 Years
20 Nov 20080.00710610 Years

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

DateExchange RatePeriod
11 Nov 20180.01221 Week
19 Oct 20180.01251 Month
22 May 20180.01196 Months
18 Nov 20170.01181 Year
18 Nov 20160.01232 Years
19 Nov 20130.01065 Years
20 Nov 20080.017010 Years

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

DateExchange RatePeriod
11 Nov 20180.01161 Week
19 Oct 20180.01171 Month
22 May 20180.01166 Months
18 Nov 20170.01141 Year
18 Nov 20160.01222 Years
19 Nov 20130.01045 Years
20 Nov 20080.013510 Years

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