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Japanese Yen (JPY) Exchange Rates on 02nd May 2024 (02/05/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-05-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	195.4427	GBP to JPY
JPY	BGN	0.0118	JPY to BGN	85.0897	BGN to JPY
JPY	HRK	0.0454	JPY to HRK	22.0276	HRK to JPY
JPY	CZK	0.1501	JPY to CZK	6.6626	CZK to JPY
JPY	DKK	0.0446	JPY to DKK	22.4056	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.3316	JPY to HUF	0.4289	HUF to JPY
JPY	KZT	2.8256	JPY to KZT	0.3539	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	257.8299	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3688	JPY to MKD	2.7113	MKD to JPY
JPY	MDL	0.1127	JPY to MDL	8.8766	MDL to JPY
JPY	NOK	0.0707	JPY to NOK	14.1407	NOK to JPY
JPY	PLN	0.0259	JPY to PLN	38.6576	PLN to JPY
JPY	RON	0.0298	JPY to RON	33.5595	RON to JPY
JPY	RUB	0.5998	JPY to RUB	1.6672	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.07	JPY to SEK	14.28	SEK to JPY
JPY	CHF	0.0059	JPY to CHF	170.1498	CHF to JPY
JPY	TRY	0.2072	JPY to TRY	4.8262	TRY to JPY
JPY	UAH	0.2529	JPY to UAH	3.9542	UAH to JPY

					Updated: 2024-05-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	5.5977	JPY to ARS	0.1786	ARS to JPY
JPY	BOB	0.0441	JPY to BOB	22.6608	BOB to JPY
JPY	BRL	0.0333	JPY to BRL	30.0163	BRL to JPY
JPY	CAD	0.0088	JPY to CAD	113.6117	CAD to JPY
JPY	KYD	0.0053	JPY to KYD	187.8947	KYD to JPY
JPY	CLP	6.1579	JPY to CLP	0.1624	CLP to JPY
JPY	COP	25.0964	JPY to COP	0.0398	COP to JPY
JPY	CRC	3.2588	JPY to CRC	0.3069	CRC to JPY
JPY	DOP	0.3713	JPY to DOP	2.6931	DOP to JPY
JPY	SVC	0.0559	JPY to SVC	17.8958	SVC to JPY
JPY	FJD	0.0148	JPY to FJD	67.7494	FJD to JPY
JPY	HNL	0.1578	JPY to HNL	6.3372	HNL to JPY
JPY	JMD	0.9964	JPY to JMD	1.0036	JMD to JPY
JPY	MXN	0.1087	JPY to MXN	9.2022	MXN to JPY
JPY	ANG	0.0115	JPY to ANG	86.882	ANG to JPY
JPY	PYG	47.8579	JPY to PYG	0.0209	PYG to JPY
JPY	PEN	0.0241	JPY to PEN	41.541	PEN to JPY
JPY	TTD	0.0434	JPY to TTD	23.0487	TTD to JPY
JPY	USD	0.0064	JPY to USD	155.9589	USD to JPY
JPY	UYU	0.2448	JPY to UYU	4.0845	UYU to JPY
JPY	VEF	23227.5064	JPY to VEF	0	VEF to JPY

					Updated: 2024-05-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0098	JPY to AUD	101.8372	AUD to JPY
JPY	BDT	0.7009	JPY to BDT	1.4267	BDT to JPY
JPY	BND	0.0087	JPY to BND	114.7197	BND to JPY
JPY	CNY	0.0464	JPY to CNY	21.5386	CNY to JPY
JPY	INR	0.535	JPY to INR	1.8692	INR to JPY
JPY	IDR	103.8192	JPY to IDR	0.0096	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0306	JPY to MYR	32.7233	MYR to JPY
JPY	MVR	0.0961	JPY to MVR	10.4039	MVR to JPY
JPY	NPR	0.8576	JPY to NPR	1.1661	NPR to JPY
JPY	NZD	0.0108	JPY to NZD	92.4108	NZD to JPY
JPY	PKR	1.7779	JPY to PKR	0.5624	PKR to JPY
JPY	PGK	0.0247	JPY to PGK	40.5669	PGK to JPY
JPY	PHP	0.3694	JPY to PHP	2.7075	PHP to JPY
JPY	SCR	0.0875	JPY to SCR	11.4316	SCR to JPY
JPY	SGD	0.0087	JPY to SGD	114.673	SGD to JPY
JPY	KRW	8.8255	JPY to KRW	0.1133	KRW to JPY
JPY	LKR	1.9042	JPY to LKR	0.5252	LKR to JPY
JPY	TWD	0.2087	JPY to TWD	4.791	TWD to JPY
JPY	THB	0.2367	JPY to THB	4.2242	THB to JPY

					Updated: 2024-05-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	415.3499	BHD to JPY
JPY	EGP	0.3055	JPY to EGP	3.273	EGP to JPY
JPY	HKD	0.0501	JPY to HKD	19.9483	HKD to JPY
JPY	ILS	0.0241	JPY to ILS	41.5243	ILS to JPY
JPY	JOD	0.0045	JPY to JOD	220.0628	JOD to JPY
JPY	KWD	0.002	JPY to KWD	506.0644	KWD to JPY
JPY	LBP	572.0018	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	406.7118	OMR to JPY
JPY	QAR	0.0233	JPY to QAR	42.8338	QAR to JPY
JPY	SAR	0.0241	JPY to SAR	41.5603	SAR to JPY
JPY	AED	0.0236	JPY to AED	42.462	AED to JPY
JPY	YER	1.6052	JPY to YER	0.623	YER to JPY

					Updated: 2024-05-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.86	JPY to DZD	1.1628	DZD to JPY
JPY	KES	0.8656	JPY to KES	1.1553	KES to JPY
JPY	MUR	0.2973	JPY to MUR	3.3634	MUR to JPY
JPY	MAD	0.0646	JPY to MAD	15.4692	MAD to JPY
JPY	NAD	0.1192	JPY to NAD	8.386	NAD to JPY
JPY	NIO	0.2351	JPY to NIO	4.254	NIO to JPY
JPY	NGN	8.9534	JPY to NGN	0.1117	NGN to JPY
JPY	SLL	134.4557	JPY to SLL	0.0074	SLL to JPY
JPY	ZAR	0.1191	JPY to ZAR	8.396	ZAR to JPY
JPY	TZS	16.5093	JPY to TZS	0.0606	TZS to JPY
JPY	TND	0.0202	JPY to TND	49.5582	TND to JPY
JPY	UGX	24.3273	JPY to UGX	0.0411	UGX to JPY
JPY	XOF	3.9265	JPY to XOF	0.2547	XOF to JPY
JPY	ZMK	57.7152	JPY to ZMK	0.0173	ZMK to JPY

Japanese Yen (JPY)
1 Japanese Yen

Sign ¥
1 Yen is subdivided into 10 dimes, 100 cents or 1000 mills.

JPY is the currency code for the Japanese yen. Symbolized with the "�", the JPY is the third most widely held international reserve currency and the fourth most traded currency in open foreign currency markets. Underlying monetary policy and issuance of the JPY is managed by the Japanese central bank, the Bank of Japan (BOF). The BOJ was established in 1882 using a Belgian banking model and was given monopoly powers over controlling monetary policy and the circulation of the JPY.

Coins used:
¥1, ¥5, ¥10, ¥50, ¥100, ¥500

Banknotes used:
¥1000, ¥2000, ¥5000, ¥10000

Central Bank
Bank of Japan
http://www.boj.or.jp
The monetary policy of the BOJ is under continuous scrutiny and criticism as the BOJ holds as its model a system of credit control and managed commercial growth using credit quotas placed on commercial banks. This control system is much different than the mandate of many market economies and more similar to the command and control system of the Chinese central bank. This system has not only been criticized for its role in the credit and development bubble of the 1980's, where the JPY soared in value, but it has also been criticized for the BOJ's refusal to take action to stimulate growth and development into the 21st century. In 1997 the Bank of Japan Act gave the BOJ greater independence and yet attempted to reign in that independence with a gently worded clause in the act stating the BOJ should consult with the government on monetary policy and economic growth given their goals were "harmonious". This gentle attempt failed and the BOJ has retained the same policies of the past without regard to repeated calls for allowing economic stimulus. The value of the JPY has historically made significant moves with its losing almost all value at the end of World War II. But by 1949 the JPY was fixed against the USD and by extension the Bretton Woods system that was in place at the time. When the USD was removed from Bretton Woods, the JPY was still tied to the USD and a new agreement was drafted at a new USD/JPY exchange rate. This rate did not last long as open market supply and demand forced the abandonment of the pegging to the USD and by 1973 the BOJ removed all connections of the JPY to the USD and has since allowed it to float freely. Throughout the rest of the 1970's the JPY continued to show strength against the USD with two primary setbacks being the oil crises of 1974, 1976, and 1979. In the early 1980's all signs were that there was a large appetite for the JPY worldwide, yet the valuation remained relatively stable. This was due to a variety of factors, namely Japan's ties to the United States and interest rate disparities between the two. This connection was completely broken when in 1985 the French Plaza Accord shifted worldwide currency markets against the USD and not the JPY. Over the next 4 years the JPY nearly doubled in value relative to the USD reaching a high in 1995 almost three times the value relative to the USD ten years earlier in 1985. The JPY bubble quickly corrected to 1989 levels as the BOJ battled a post development bubble and debt crisis with the BOJ lowering interest rates near to zero. This crisis finally saw some improvement 13 years later in 2008 when the worldwide credit bubble burst, a bubble in which the JPY had not participated. This left few major currencies with the underlying strength to counter the trend of depreciation, among these the JPY and CHF remain strong. Though this temporary reprieve in the weakness of the JPY and the Japanese economy as a whole was welcome, it has yet to bring the JPY out of its long term disfavor. This has led to the continued argument that the BOJ must take action to stimulate the economy, not simply sit back with its command and control quotas waiting for growth to spontaneously erupt. This reluctance at stimulus may be due to the long term shame the BOJ has held for allowing the 1980's bubble to occur and therefore they are reluctant to once again take any step that would lead them to blame for another crisis. At the same time their policy of JPY stability and zero interest rates has yet to drive innovation, productivity, and markets into a new cycle of growth. As a result of this unexplained reluctance, no doubt rooted in their previous failure, is the cause of the prolonged economic stagnation. The BOJ continued insistence on low interest rates is clearly not enough stimulus if there are not any business or innovators willing to borrow. This has led economists to define a new type of recession that is not simply attached to a decrease in GDP or lack of growth, but as a situation where no one is willing to take risk, borrow, and grow until their individual balance sheets are strong enough to warrant such a move. Therefore for the JPY to make a new move upward, economic balance sheet stimulus is needed in the Japanese commercial sectors. If they hold the JPY this could be accomplished with improved JPY pricing, but is more likely to occur as monetary policies are enacted to repair the balance sheets of companies still reeling from the after affects of the 1980's bubble and the resultant depressed asset values that remain on their balance sheets. In this instance it would be better to somehow address these issues and take them off the table, allowing for forgiveness and repair in order to stimulate the Japanese economy and as a result stimulate the JPY. As of yet any type of move in this direction has not been indicated by the BOJ. In 2010 the BOJ has taken certain steps to even triple the liquidity available to banks and yet the JPY and underlying economy remained stagnant. This move by the BOJ was initially seen as a positive maneuver, but once again it has taught the markets a two fold lesson. The first is that unlimited liquidity is useless without any businesses willing to borrow or invest and that the BOJ may have taken the move in order to silence critics, knowing that there would be no takers of their capital and that this move would giving the appearance of an effort at stimulus.

Other References
Wikipedia article on Japanese Yen

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