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Japanese Yen (JPY) Exchange Rates on 02nd February 2023 (02/02/2023)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2023-02-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0063	JPY to GBP	159.1466	GBP to JPY
JPY	BGN	0.014	JPY to BGN	71.5523	BGN to JPY
JPY	HRK	0.0548	JPY to HRK	18.2392	HRK to JPY
JPY	CZK	0.168	JPY to CZK	5.9526	CZK to JPY
JPY	DKK	0.0526	JPY to DKK	19.029	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.7511	JPY to HUF	0.3635	HUF to JPY
JPY	KZT	3.5463	JPY to KZT	0.282	KZT to JPY
JPY	LVL	0.0047	JPY to LVL	212.3427	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.4356	JPY to MKD	2.2959	MKD to JPY
JPY	MDL	0.145	JPY to MDL	6.8984	MDL to JPY
JPY	NOK	0.0769	JPY to NOK	13.0004	NOK to JPY
JPY	PLN	0.0332	JPY to PLN	30.0917	PLN to JPY
JPY	RON	0.0347	JPY to RON	28.8346	RON to JPY
JPY	RUB	0.5459	JPY to RUB	1.8319	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0802	JPY to SEK	12.474	SEK to JPY
JPY	CHF	0.0071	JPY to CHF	141.6109	CHF to JPY
JPY	TRY	0.1465	JPY to TRY	6.8253	TRY to JPY
JPY	UAH	0.2844	JPY to UAH	3.5161	UAH to JPY

					Updated: 2023-02-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	1.4579	JPY to ARS	0.6859	ARS to JPY
JPY	BOB	0.0538	JPY to BOB	18.5897	BOB to JPY
JPY	BRL	0.0394	JPY to BRL	25.4063	BRL to JPY
JPY	CAD	0.0103	JPY to CAD	96.7399	CAD to JPY
JPY	KYD	0.0064	JPY to KYD	155.8279	KYD to JPY
JPY	CLP	6.1237	JPY to CLP	0.1633	CLP to JPY
JPY	COP	36.0017	JPY to COP	0.0278	COP to JPY
JPY	CRC	4.2471	JPY to CRC	0.2355	CRC to JPY
JPY	DOP	0.4367	JPY to DOP	2.2899	DOP to JPY
JPY	SVC	0.0674	JPY to SVC	14.8421	SVC to JPY
JPY	FJD	0.0169	JPY to FJD	59.2879	FJD to JPY
JPY	HNL	0.1899	JPY to HNL	5.2665	HNL to JPY
JPY	JMD	1.1802	JPY to JMD	0.8473	JMD to JPY
JPY	MXN	0.1446	JPY to MXN	6.9153	MXN to JPY
JPY	ANG	0.0139	JPY to ANG	72.0551	ANG to JPY
JPY	PYG	56.5663	JPY to PYG	0.0177	PYG to JPY
JPY	PEN	0.0296	JPY to PEN	33.7767	PEN to JPY
JPY	TTD	0.0523	JPY to TTD	19.1364	TTD to JPY
JPY	USD	0.0078	JPY to USD	128.4439	USD to JPY
JPY	UYU	0.2985	JPY to UYU	3.3501	UYU to JPY
JPY	VEF	17397.5605	JPY to VEF	0.0001	VEF to JPY

					Updated: 2023-02-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0109	JPY to AUD	91.8042	AUD to JPY
JPY	BDT	0.8168	JPY to BDT	1.2243	BDT to JPY
JPY	BND	0.0101	JPY to BND	98.9215	BND to JPY
JPY	CNY	0.0523	JPY to CNY	19.1385	CNY to JPY
JPY	INR	0.6367	JPY to INR	1.5706	INR to JPY
JPY	IDR	115.689	JPY to IDR	0.0086	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.033	JPY to MYR	30.297	MYR to JPY
JPY	MVR	0.1196	JPY to MVR	8.3622	MVR to JPY
JPY	NPR	1.01	JPY to NPR	0.9901	NPR to JPY
JPY	NZD	0.0119	JPY to NZD	83.9371	NZD to JPY
JPY	PKR	2.0695	JPY to PKR	0.4832	PKR to JPY
JPY	PGK	0.0271	JPY to PGK	36.8468	PGK to JPY
JPY	PHP	0.4195	JPY to PHP	2.3838	PHP to JPY
JPY	SCR	0.104	JPY to SCR	9.6135	SCR to JPY
JPY	SGD	0.0102	JPY to SGD	98.5036	SGD to JPY
JPY	KRW	9.4864	JPY to KRW	0.1054	KRW to JPY
JPY	LKR	2.8182	JPY to LKR	0.3548	LKR to JPY
JPY	TWD	0.2309	JPY to TWD	4.3313	TWD to JPY
JPY	THB	0.2548	JPY to THB	3.9249	THB to JPY

					Updated: 2023-02-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0029	JPY to BHD	340.7208	BHD to JPY
JPY	EGP	0.2352	JPY to EGP	4.2522	EGP to JPY
JPY	HKD	0.0611	JPY to HKD	16.38	HKD to JPY
JPY	ILS	0.0269	JPY to ILS	37.2102	ILS to JPY
JPY	JOD	0.0055	JPY to JOD	181.0604	JOD to JPY
JPY	KWD	0.0024	JPY to KWD	421.5375	KWD to JPY
JPY	LBP	116.7828	JPY to LBP	0.0086	LBP to JPY
JPY	OMR	0.003	JPY to OMR	333.632	OMR to JPY
JPY	QAR	0.0283	JPY to QAR	35.2747	QAR to JPY
JPY	SAR	0.0292	JPY to SAR	34.2274	SAR to JPY
JPY	AED	0.0286	JPY to AED	34.9688	AED to JPY
JPY	YER	1.9495	JPY to YER	0.513	YER to JPY

					Updated: 2023-02-02
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	1.0549	JPY to DZD	0.948	DZD to JPY
JPY	KES	0.9701	JPY to KES	1.0309	KES to JPY
JPY	MUR	0.3492	JPY to MUR	2.8638	MUR to JPY
JPY	MAD	0.0783	JPY to MAD	12.7639	MAD to JPY
JPY	NAD	0.1338	JPY to NAD	7.4764	NAD to JPY
JPY	NIO	0.2814	JPY to NIO	3.5539	NIO to JPY
JPY	NGN	3.5854	JPY to NGN	0.2789	NGN to JPY
JPY	SLL	151.6224	JPY to SLL	0.0066	SLL to JPY
JPY	ZAR	0.1326	JPY to ZAR	7.5408	ZAR to JPY
JPY	TZS	18.1948	JPY to TZS	0.055	TZS to JPY
JPY	TND	0.0236	JPY to TND	42.4117	TND to JPY
JPY	UGX	28.3748	JPY to UGX	0.0352	UGX to JPY
JPY	XOF	4.6374	JPY to XOF	0.2156	XOF to JPY
JPY	ZMK	70.0788	JPY to ZMK	0.0143	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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