There are three simple steps you need to take in order to get a good JPY-INR exchange rate:
Know the latest JPY to INR market mid-rate shown above - this is your starting point!
Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Japanese yen to Indian rupee (JPY-INR) - 10 Year History
10 Jun 2018
18 May 2018
19 Dec 2017
17 Jun 2017
17 Jun 2016
18 Jun 2013
19 Jun 2008
The JPY/INR mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the JPY / INR was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for JPY/INR Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
JPY to INR Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from JPY to INR.
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same JPY/INR market rate I see on Google or in the Media?
When you look up the current Japanese yen to Indian rupee exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great JPY to INR mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our JPY to INR currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific Japanese yen cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Japanese yen and Indian rupee
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the JPY vs INR, you should pay attention to both Japanese yen and Indian rupee news and forecasts.
Japanese yen (JPY) - Market news and forecasts
A loss in April of nearly 3 percent relative to the dollar marked the yen’s worst monthly performance since November 2016. But even with that said, approaching the end of May, the yen was the best performing G10 currency of the year. USD/JPY traded in the mid-109s and EUR/JPY in the mid-127s.
Factors affecting the yen’s value in May included political instability in Europe (supportive of the yen), the recoupling of the dollar with US interest rate expectations (negative for the yen versus the dollar), and the announcement by Washington that it would be scrutinizing automobile imports, which is to say the return of global trade tensions (supportive of the yen).
The medium-term outlook for the yen is good, says Citibank, based on the potential in Japan for normalization of monetary policy. Citibank is forecasting a USD/JPY rate of 105 within 6-12 months.
Indian rupee (INR) - Market news and forecasts
Against the dollar, the rupee remains weak by recent standards: it fell to an eighteen-month low in May and at the time of this report had recovered only 2.5 percent; although, on June 1st it did have one of its best days in recent years after data showed India’s economy growing faster than any other in the world. The rupee is also weak compared with other major currencies like the yen, euro and Chinese yuan.
According to one analyst, without higher Indian interest rates, the rupee will weaken again.
The RBI has not raised rates since 2011 but to do so would be to follow in the footsteps of its peers. Four emerging market central banks raised rates in May in order to counter higher US interest rates and the stronger dollar, which are equally bothersome to India.
Further to inflation, which is already above target, among factors to be considered by the RBI ahead of any hike are the recent escalation in global trade tensions, the high price of oil (India’s largest import) and a troubled banking sector.
Come July, seasonal factors will support the rupee. The April-June period each year is usually a time when the rupee loses value due to India’s heightened gold demand heading into the Hindu festival of Akshaya Tritiya.
Best Exchange Rates - Compare & Save
Compare exchange rates from trusted & regulated FX brands
Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to
provide you with information about currency exchange products & services from multiple financial institutions.
We will try to show you a
range of products & services in response to your request for information. The search results do not include all providers and may
not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to
you about a particular product.
If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates.
Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website.
Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own
and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.
Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.
You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.
For more details or request distribution right please contacxt us here.