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Japanese Yen (JPY) Exchange Rates on 07th April 2020 (07/04/2020)

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Exchange rates for Japanese Yen (JPY)

Updated: 2020-04-07
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JPY GBP 0.0075 JPY to GBP 133.9034 GBP to JPY
JPY BGN 0.0166 JPY to BGN 60.2783 BGN to JPY
JPY HRK 0.0646 JPY to HRK 15.4912 HRK to JPY
JPY CZK 0.2323 JPY to CZK 4.3047 CZK to JPY
JPY DKK 0.0632 JPY to DKK 15.8173 DKK to JPY
JPY HUF 3.0657 JPY to HUF 0.3262 HUF to JPY
JPY KZT 4.037 JPY to KZT 0.2477 KZT to JPY
JPY LVL 0.0056 JPY to LVL 179.9399 LVL to JPY
JPY MKD 0.5232 JPY to MKD 1.9112 MKD to JPY
JPY MDL 0.1715 JPY to MDL 5.8324 MDL to JPY
JPY NOK 0.0944 JPY to NOK 10.5911 NOK to JPY
JPY PLN 0.0384 JPY to PLN 26.0519 PLN to JPY
JPY RON 0.0409 JPY to RON 24.473 RON to JPY
JPY RUB 0.6931 JPY to RUB 1.4427 RUB to JPY
JPY SEK 0.0924 JPY to SEK 10.8222 SEK to JPY
JPY CHF 0.009 JPY to CHF 111.6114 CHF to JPY
JPY TRY 0.0617 JPY to TRY 16.2085 TRY to JPY
JPY UAH 0.2503 JPY to UAH 3.9954 UAH to JPY
Updated: 2020-04-07
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY ARS 0.5964 JPY to ARS 1.6768 ARS to JPY
JPY BOB 0.0634 JPY to BOB 15.7758 BOB to JPY
JPY BRL 0.0486 JPY to BRL 20.5898 BRL to JPY
JPY CAD 0.0129 JPY to CAD 77.515 CAD to JPY
JPY KYD 0.0077 JPY to KYD 130.5338 KYD to JPY
JPY CLP 7.8332 JPY to CLP 0.1277 CLP to JPY
JPY COP 36.5754 JPY to COP 0.0273 COP to JPY
JPY CRC 5.2908 JPY to CRC 0.189 CRC to JPY
JPY DOP 0.4952 JPY to DOP 2.0192 DOP to JPY
JPY SVC 0.0804 JPY to SVC 12.4318 SVC to JPY
JPY FJD 0.0213 JPY to FJD 46.9094 FJD to JPY
JPY HNL 0.2279 JPY to HNL 4.3882 HNL to JPY
JPY JMD 1.2411 JPY to JMD 0.8057 JMD to JPY
JPY MXN 0.2247 JPY to MXN 4.4502 MXN to JPY
JPY ANG 0.0165 JPY to ANG 60.7669 ANG to JPY
JPY PYG 60.1282 JPY to PYG 0.0166 PYG to JPY
JPY PEN 0.0318 JPY to PEN 31.4557 PEN to JPY
JPY TTD 0.0621 JPY to TTD 16.0988 TTD to JPY
JPY USD 0.0092 JPY to USD 108.8438 USD to JPY
JPY UYU 0.4066 JPY to UYU 2.4594 UYU to JPY
JPY VEF 0.0918 JPY to VEF 10.898 VEF to JPY
Updated: 2020-04-07
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JPY AUD 0.0149 JPY to AUD 67.0896 AUD to JPY
JPY BDT 0.7809 JPY to BDT 1.2805 BDT to JPY
JPY BND 0.0132 JPY to BND 75.8819 BND to JPY
JPY CNY 0.0649 JPY to CNY 15.4052 CNY to JPY
JPY INR 0.6955 JPY to INR 1.4378 INR to JPY
JPY IDR 150.2103 JPY to IDR 0.0067 IDR to JPY
JPY MYR 0.04 JPY to MYR 25.023 MYR to JPY
JPY MVR 0.1416 JPY to MVR 7.0632 MVR to JPY
JPY NPR 1.1209 JPY to NPR 0.8921 NPR to JPY
JPY NZD 0.0153 JPY to NZD 65.304 NZD to JPY
JPY PKR 1.5364 JPY to PKR 0.6509 PKR to JPY
JPY PGK 0.0319 JPY to PGK 31.3491 PGK to JPY
JPY PHP 0.4651 JPY to PHP 2.15 PHP to JPY
JPY SCR 0.1351 JPY to SCR 7.4044 SCR to JPY
JPY SGD 0.0131 JPY to SGD 76.2531 SGD to JPY
JPY KRW 11.2025 JPY to KRW 0.0893 KRW to JPY
JPY LKR 1.7766 JPY to LKR 0.5629 LKR to JPY
JPY TWD 0.2769 JPY to TWD 3.6116 TWD to JPY
JPY THB 0.301 JPY to THB 3.3219 THB to JPY
Updated: 2020-04-07
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JPY BHD 0.0035 JPY to BHD 288.6861 BHD to JPY
JPY EGP 0.1447 JPY to EGP 6.9115 EGP to JPY
JPY HKD 0.0712 JPY to HKD 14.0393 HKD to JPY
JPY ILS 0.0328 JPY to ILS 30.4652 ILS to JPY
JPY JOD 0.0065 JPY to JOD 153.5231 JOD to JPY
JPY KWD 0.0029 JPY to KWD 349.0929 KWD to JPY
JPY LBP 13.9018 JPY to LBP 0.0719 LBP to JPY
JPY OMR 0.0035 JPY to OMR 282.6453 OMR to JPY
JPY QAR 0.0335 JPY to QAR 29.8943 QAR to JPY
JPY SAR 0.0345 JPY to SAR 28.9474 SAR to JPY
JPY AED 0.0337 JPY to AED 29.6319 AED to JPY
JPY YER 2.3001 JPY to YER 0.4348 YER to JPY
Updated: 2020-04-07
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JPY DZD 1.1657 JPY to DZD 0.8579 DZD to JPY
JPY KES 0.9765 JPY to KES 1.024 KES to JPY
JPY MUR 0.3662 JPY to MUR 2.731 MUR to JPY
JPY MAD 0.0947 JPY to MAD 10.558 MAD to JPY
JPY NAD 0.1732 JPY to NAD 5.7742 NAD to JPY
JPY NIO 0.3101 JPY to NIO 3.2244 NIO to JPY
JPY NGN 3.3718 JPY to NGN 0.2966 NGN to JPY
JPY SLL 89.4858 JPY to SLL 0.0112 SLL to JPY
JPY ZAR 0.1701 JPY to ZAR 5.8788 ZAR to JPY
JPY TZS 21.2588 JPY to TZS 0.047 TZS to JPY
JPY TND 0.0268 JPY to TND 37.2593 TND to JPY
JPY UGX 34.6134 JPY to UGX 0.0289 UGX to JPY
JPY XOF 5.5835 JPY to XOF 0.1791 XOF to JPY
JPY ZMK 82.6984 JPY to ZMK 0.0121 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

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