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Japanese Yen (JPY) Exchange Rates on 01st October 2022 (01/10/2022)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2022-10-01
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0062	JPY to GBP	161.3841	GBP to JPY
JPY	BGN	0.0138	JPY to BGN	72.5078	BGN to JPY
JPY	HRK	0.053	JPY to HRK	18.8617	HRK to JPY
JPY	CZK	0.1733	JPY to CZK	5.7704	CZK to JPY
JPY	DKK	0.0524	JPY to DKK	19.0756	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.9817	JPY to HUF	0.3354	HUF to JPY
JPY	KZT	3.2914	JPY to KZT	0.3038	KZT to JPY
JPY	LVL	0.0042	JPY to LVL	239.2812	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.4362	JPY to MKD	2.2925	MKD to JPY
JPY	MDL	0.1348	JPY to MDL	7.4188	MDL to JPY
JPY	NOK	0.0752	JPY to NOK	13.2958	NOK to JPY
JPY	PLN	0.0342	JPY to PLN	29.23	PLN to JPY
JPY	RON	0.0349	JPY to RON	28.6435	RON to JPY
JPY	RUB	0.4159	JPY to RUB	2.4042	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0766	JPY to SEK	13.0596	SEK to JPY
JPY	CHF	0.0068	JPY to CHF	146.3935	CHF to JPY
JPY	TRY	0.1281	JPY to TRY	7.8092	TRY to JPY
JPY	UAH	0.251	JPY to UAH	3.9839	UAH to JPY

					Updated: 2022-10-01
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	1.0177	JPY to ARS	0.9826	ARS to JPY
JPY	BOB	0.0478	JPY to BOB	20.9371	BOB to JPY
JPY	BRL	0.0374	JPY to BRL	26.7418	BRL to JPY
JPY	CAD	0.0096	JPY to CAD	104.6354	CAD to JPY
JPY	KYD	0.0058	JPY to KYD	173.5898	KYD to JPY
JPY	CLP	6.688	JPY to CLP	0.1495	CLP to JPY
JPY	COP	31.8505	JPY to COP	0.0314	COP to JPY
JPY	CRC	4.3371	JPY to CRC	0.2306	CRC to JPY
JPY	DOP	0.3703	JPY to DOP	2.7002	DOP to JPY
JPY	SVC	0.0598	JPY to SVC	16.7333	SVC to JPY
JPY	FJD	0.016	JPY to FJD	62.6559	FJD to JPY
JPY	HNL	0.1711	JPY to HNL	5.8456	HNL to JPY
JPY	JMD	1.0512	JPY to JMD	0.9513	JMD to JPY
JPY	MXN	0.1392	JPY to MXN	7.1844	MXN to JPY
JPY	ANG	0.0125	JPY to ANG	80.2678	ANG to JPY
JPY	PYG	48.8646	JPY to PYG	0.0205	PYG to JPY
JPY	PEN	0.0275	JPY to PEN	36.3529	PEN to JPY
JPY	TTD	0.0464	JPY to TTD	21.5345	TTD to JPY
JPY	USD	0.0069	JPY to USD	144.7693	USD to JPY
JPY	UYU	0.2818	JPY to UYU	3.5482	UYU to JPY
JPY	VEF	1509447607.8877	JPY to VEF	0	VEF to JPY

					Updated: 2022-10-01
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0108	JPY to AUD	92.6906	AUD to JPY
JPY	BDT	0.7002	JPY to BDT	1.4281	BDT to JPY
JPY	BND	0.0099	JPY to BND	100.7866	BND to JPY
JPY	CNY	0.0492	JPY to CNY	20.3398	CNY to JPY
JPY	INR	0.564	JPY to INR	1.7729	INR to JPY
JPY	IDR	105.7329	JPY to IDR	0.0095	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.032	JPY to MYR	31.2136	MYR to JPY
JPY	MVR	0.1067	JPY to MVR	9.368	MVR to JPY
JPY	NPR	0.9007	JPY to NPR	1.1102	NPR to JPY
JPY	NZD	0.0124	JPY to NZD	80.8871	NZD to JPY
JPY	PKR	1.576	JPY to PKR	0.6345	PKR to JPY
JPY	PGK	0.0243	JPY to PGK	41.1147	PGK to JPY
JPY	PHP	0.4063	JPY to PHP	2.4615	PHP to JPY
JPY	SCR	0.0902	JPY to SCR	11.0863	SCR to JPY
JPY	SGD	0.0099	JPY to SGD	101.0759	SGD to JPY
JPY	KRW	9.9505	JPY to KRW	0.1005	KRW to JPY
JPY	LKR	2.5264	JPY to LKR	0.3958	LKR to JPY
JPY	TWD	0.2193	JPY to TWD	4.5608	TWD to JPY
JPY	THB	0.2624	JPY to THB	3.8109	THB to JPY

					Updated: 2022-10-01
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0026	JPY to BHD	383.6442	BHD to JPY
JPY	EGP	0.135	JPY to EGP	7.408	EGP to JPY
JPY	HKD	0.0542	JPY to HKD	18.4385	HKD to JPY
JPY	ILS	0.0246	JPY to ILS	40.6737	ILS to JPY
JPY	JOD	0.0049	JPY to JOD	204.1338	JOD to JPY
JPY	KWD	0.0021	JPY to KWD	466.9596	KWD to JPY
JPY	LBP	10.4805	JPY to LBP	0.0954	LBP to JPY
JPY	OMR	0.0027	JPY to OMR	375.9787	OMR to JPY
JPY	QAR	0.0252	JPY to QAR	39.7521	QAR to JPY
JPY	SAR	0.026	JPY to SAR	38.5272	SAR to JPY
JPY	AED	0.0254	JPY to AED	39.406	AED to JPY
JPY	YER	1.729	JPY to YER	0.5784	YER to JPY

					Updated: 2022-10-01
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.973	JPY to DZD	1.0278	DZD to JPY
JPY	KES	0.835	JPY to KES	1.1977	KES to JPY
JPY	MUR	0.3161	JPY to MUR	3.164	MUR to JPY
JPY	MAD	0.0757	JPY to MAD	13.2145	MAD to JPY
JPY	NAD	0.1249	JPY to NAD	8.0053	NAD to JPY
JPY	NIO	0.2487	JPY to NIO	4.0205	NIO to JPY
JPY	NGN	2.9872	JPY to NGN	0.3348	NGN to JPY
JPY	SLL	107.0321	JPY to SLL	0.0093	SLL to JPY
JPY	ZAR	0.1245	JPY to ZAR	8.0343	ZAR to JPY
JPY	TZS	16.1083	JPY to TZS	0.0621	TZS to JPY
JPY	TND	0.0225	JPY to TND	44.531	TND to JPY
JPY	UGX	26.3638	JPY to UGX	0.0379	UGX to JPY
JPY	XOF	4.6117	JPY to XOF	0.2168	XOF to JPY
JPY	ZMK	62.1761	JPY to ZMK	0.0161	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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