Japanese Yen (JPY) Exchange Rates on 24th January 2020 (24/01/2020)

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Exchange rates for Japanese Yen (JPY)

Updated: 2020-01-24
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JPY GBP 0.007 JPY to GBP 143.8592 GBP to JPY
JPY BGN 0.0162 JPY to BGN 61.8892 BGN to JPY
JPY HRK 0.0615 JPY to HRK 16.2597 HRK to JPY
JPY CZK 0.2079 JPY to CZK 4.81 CZK to JPY
JPY DKK 0.0617 JPY to DKK 16.1983 DKK to JPY
JPY HUF 2.7831 JPY to HUF 0.3593 HUF to JPY
JPY KZT 3.4624 JPY to KZT 0.2888 KZT to JPY
JPY LVL 0.0055 JPY to LVL 181.0874 LVL to JPY
JPY LTL 0.027 JPY to LTL 37.0971 LTL to JPY
JPY MKD 0.5088 JPY to MKD 1.9654 MKD to JPY
JPY MDL 0.1625 JPY to MDL 6.1542 MDL to JPY
JPY NOK 0.0821 JPY to NOK 12.1767 NOK to JPY
JPY PLN 0.0351 JPY to PLN 28.5095 PLN to JPY
JPY RON 0.0395 JPY to RON 25.3191 RON to JPY
JPY RUB 0.5649 JPY to RUB 1.7701 RUB to JPY
JPY SEK 0.087 JPY to SEK 11.4902 SEK to JPY
JPY CHF 0.0089 JPY to CHF 112.8795 CHF to JPY
JPY TRY 0.0541 JPY to TRY 18.4686 TRY to JPY
JPY UAH 0.2243 JPY to UAH 4.4591 UAH to JPY
Updated: 2020-01-24
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JPY ARS 0.5477 JPY to ARS 1.8258 ARS to JPY
JPY BOB 0.0633 JPY to BOB 15.7906 BOB to JPY
JPY BRL 0.0381 JPY to BRL 26.2631 BRL to JPY
JPY CAD 0.012 JPY to CAD 83.4437 CAD to JPY
JPY KYD 0.0076 JPY to KYD 131.032 KYD to JPY
JPY CLP 7.1134 JPY to CLP 0.1406 CLP to JPY
JPY COP 30.6863 JPY to COP 0.0326 COP to JPY
JPY CRC 5.1721 JPY to CRC 0.1933 CRC to JPY
JPY DOP 0.4871 JPY to DOP 2.0529 DOP to JPY
JPY SVC 0.0801 JPY to SVC 12.4793 SVC to JPY
JPY FJD 0.0198 JPY to FJD 50.4621 FJD to JPY
JPY HNL 0.2255 JPY to HNL 4.4338 HNL to JPY
JPY JMD 1.273 JPY to JMD 0.7855 JMD to JPY
JPY MXN 0.1712 JPY to MXN 5.8395 MXN to JPY
JPY ANG 0.0152 JPY to ANG 65.7794 ANG to JPY
JPY PYG 59.7755 JPY to PYG 0.0167 PYG to JPY
JPY PEN 0.0304 JPY to PEN 32.904 PEN to JPY
JPY TTD 0.0619 JPY to TTD 16.1486 TTD to JPY
JPY USD 0.0091 JPY to USD 109.5378 USD to JPY
JPY UYU 0.3426 JPY to UYU 2.9188 UYU to JPY
JPY VEF 0.0912 JPY to VEF 10.9675 VEF to JPY
Updated: 2020-01-24
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JPY AUD 0.0133 JPY to AUD 74.9619 AUD to JPY
JPY BDT 0.7775 JPY to BDT 1.2862 BDT to JPY
JPY BND 0.0124 JPY to BND 80.9328 BND to JPY
JPY CNY 0.0633 JPY to CNY 15.7911 CNY to JPY
JPY INR 0.6505 JPY to INR 1.5372 INR to JPY
JPY IDR 123.978 JPY to IDR 0.0081 IDR to JPY
JPY MYR 0.0371 JPY to MYR 26.9632 MYR to JPY
JPY MVR 0.141 JPY to MVR 7.0899 MVR to JPY
JPY NPR 1.0436 JPY to NPR 0.9582 NPR to JPY
JPY NZD 0.0138 JPY to NZD 72.4605 NZD to JPY
JPY PKR 1.417 JPY to PKR 0.7057 PKR to JPY
JPY PGK 0.0316 JPY to PGK 31.6328 PGK to JPY
JPY PHP 0.4643 JPY to PHP 2.1536 PHP to JPY
JPY SCR 0.1251 JPY to SCR 7.9961 SCR to JPY
JPY SGD 0.0123 JPY to SGD 81.1515 SGD to JPY
JPY KRW 10.6633 JPY to KRW 0.0938 KRW to JPY
JPY LKR 1.6624 JPY to LKR 0.6015 LKR to JPY
JPY TWD 0.2739 JPY to TWD 3.651 TWD to JPY
JPY THB 0.2784 JPY to THB 3.5921 THB to JPY
Updated: 2020-01-24
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JPY BHD 0.0034 JPY to BHD 290.5545 BHD to JPY
JPY EGP 0.144 JPY to EGP 6.9463 EGP to JPY
JPY HKD 0.071 JPY to HKD 14.0933 HKD to JPY
JPY ILS 0.0315 JPY to ILS 31.7001 ILS to JPY
JPY JOD 0.0065 JPY to JOD 154.4942 JOD to JPY
JPY KWD 0.0028 JPY to KWD 360.5956 KWD to JPY
JPY LBP 13.8489 JPY to LBP 0.0722 LBP to JPY
JPY OMR 0.0035 JPY to OMR 284.9121 OMR to JPY
JPY QAR 0.0332 JPY to QAR 30.0847 QAR to JPY
JPY SAR 0.0342 JPY to SAR 29.2 SAR to JPY
JPY AED 0.0335 JPY to AED 29.8228 AED to JPY
JPY YER 2.2855 JPY to YER 0.4375 YER to JPY
Updated: 2020-01-24
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JPY DZD 1.0933 JPY to DZD 0.9147 DZD to JPY
JPY KES 0.9206 JPY to KES 1.0863 KES to JPY
JPY MUR 0.3354 JPY to MUR 2.9814 MUR to JPY
JPY MAD 0.0881 JPY to MAD 11.3545 MAD to JPY
JPY NAD 0.1314 JPY to NAD 7.608 NAD to JPY
JPY NIO 0.309 JPY to NIO 3.2367 NIO to JPY
JPY NGN 3.3002 JPY to NGN 0.303 NGN to JPY
JPY SLL 88.6678 JPY to SLL 0.0113 SLL to JPY
JPY ZAR 0.1312 JPY to ZAR 7.6206 ZAR to JPY
JPY TZS 21.0484 JPY to TZS 0.0475 TZS to JPY
JPY TND 0.0258 JPY to TND 38.7917 TND to JPY
JPY UGX 33.6838 JPY to UGX 0.0297 UGX to JPY
JPY XOF 5.4167 JPY to XOF 0.1846 XOF to JPY
JPY ZMK 82.1743 JPY to ZMK 0.0122 ZMK to JPY

Japanese Yen (JPY)

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
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
XE.com Live Currency Converter for JPY

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