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Japanese Yen (JPY) Exchange Rates on 06th June 2023 (06/06/2023)

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Exchange rates for Japanese Yen (JPY)

Updated: 2023-06-06
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY GBP GBP 0.0058 JPY to GBP 173.599 GBP to JPY
JPY JPY BGN BGN 0.0131 JPY to BGN 76.4598 BGN to JPY
JPY JPY HRK HRK 0.0498 JPY to HRK 20.0937 HRK to JPY
JPY JPY CZK CZK 0.1574 JPY to CZK 6.353 CZK to JPY
JPY JPY DKK DKK 0.0498 JPY to DKK 20.0732 DKK to JPY
JPY JPY HUF HUF 2.4697 JPY to HUF 0.4049 HUF to JPY
JPY JPY KZT KZT 3.2054 JPY to KZT 0.312 KZT to JPY
JPY JPY LVL LVL 0.0043 JPY to LVL 230.6822 LVL to JPY
JPY JPY MKD MKD 0.4114 JPY to MKD 2.4305 MKD to JPY
JPY JPY MDL MDL 0.1274 JPY to MDL 7.8476 MDL to JPY
JPY JPY NOK NOK 0.079 JPY to NOK 12.6552 NOK to JPY
JPY JPY PLN PLN 0.0299 JPY to PLN 33.4089 PLN to JPY
JPY JPY RON RON 0.0332 JPY to RON 30.1227 RON to JPY
JPY JPY RUB RUB 0.5795 JPY to RUB 1.7257 RUB to JPY
JPY JPY SEK SEK 0.0777 JPY to SEK 12.8733 SEK to JPY
JPY JPY CHF CHF 0.0065 JPY to CHF 154.0649 CHF to JPY
JPY JPY TRY TRY 0.1529 JPY to TRY 6.5402 TRY to JPY
JPY JPY UAH UAH 0.2641 JPY to UAH 3.7863 UAH to JPY
Updated: 2023-06-06
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY ARS ARS 1.7375 JPY to ARS 0.5755 ARS to JPY
JPY JPY BOB BOB 0.0494 JPY to BOB 20.2374 BOB to JPY
JPY JPY BRL BRL 0.0353 JPY to BRL 28.3212 BRL to JPY
JPY JPY CAD CAD 0.0096 JPY to CAD 103.8879 CAD to JPY
JPY JPY KYD KYD 0.006 JPY to KYD 167.7941 KYD to JPY
JPY JPY CLP CLP 5.716 JPY to CLP 0.1749 CLP to JPY
JPY JPY COP COP 30.7874 JPY to COP 0.0325 COP to JPY
JPY JPY CRC CRC 3.8473 JPY to CRC 0.2599 CRC to JPY
JPY JPY DOP DOP 0.3923 JPY to DOP 2.5488 DOP to JPY
JPY JPY SVC SVC 0.0626 JPY to SVC 15.9813 SVC to JPY
JPY JPY FJD FJD 0.016 JPY to FJD 62.3712 FJD to JPY
JPY JPY HNL HNL 0.1759 JPY to HNL 5.686 HNL to JPY
JPY JPY JMD JMD 1.1072 JPY to JMD 0.9032 JMD to JPY
JPY JPY MXN MXN 0.1251 JPY to MXN 7.9938 MXN to JPY
JPY JPY ANG ANG 0.0129 JPY to ANG 77.5962 ANG to JPY
JPY JPY PYG PYG 51.5929 JPY to PYG 0.0194 PYG to JPY
JPY JPY PEN PEN 0.0264 JPY to PEN 37.927 PEN to JPY
JPY JPY TTD TTD 0.0485 JPY to TTD 20.6315 TTD to JPY
JPY JPY USD USD 0.0072 JPY to USD 139.5374 USD to JPY
JPY JPY UYU UYU 0.2775 JPY to UYU 3.6033 UYU to JPY
JPY JPY VEF VEF 18923.3363 JPY to VEF 0.0001 VEF to JPY
Updated: 2023-06-06
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY AUD AUD 0.0108 JPY to AUD 92.3459 AUD to JPY
JPY JPY BDT BDT 0.7704 JPY to BDT 1.298 BDT to JPY
JPY JPY BND BND 0.0097 JPY to BND 103.4275 BND to JPY
JPY JPY CNY CNY 0.051 JPY to CNY 19.6225 CNY to JPY
JPY JPY INR INR 0.5918 JPY to INR 1.6897 INR to JPY
JPY JPY IDR IDR 106.3161 JPY to IDR 0.0094 IDR to JPY
JPY JPY MYR MYR 0.033 JPY to MYR 30.3441 MYR to JPY
JPY JPY MVR MVR 0.1101 JPY to MVR 9.0844 MVR to JPY
JPY JPY NPR NPR 0.945 JPY to NPR 1.0582 NPR to JPY
JPY JPY NZD NZD 0.0118 JPY to NZD 84.775 NZD to JPY
JPY JPY PKR PKR 2.0458 JPY to PKR 0.4888 PKR to JPY
JPY JPY PGK PGK 0.0254 JPY to PGK 39.4032 PGK to JPY
JPY JPY PHP PHP 0.403 JPY to PHP 2.4816 PHP to JPY
JPY JPY SCR SCR 0.1003 JPY to SCR 9.9705 SCR to JPY
JPY JPY SGD SGD 0.0097 JPY to SGD 103.4145 SGD to JPY
JPY JPY KRW KRW 9.3148 JPY to KRW 0.1074 KRW to JPY
JPY JPY LKR LKR 2.081 JPY to LKR 0.4805 LKR to JPY
JPY JPY TWD TWD 0.22 JPY to TWD 4.5448 TWD to JPY
JPY JPY THB THB 0.2493 JPY to THB 4.0109 THB to JPY
Updated: 2023-06-06
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY BHD BHD 0.0027 JPY to BHD 370.1162 BHD to JPY
JPY JPY EGP EGP 0.2207 JPY to EGP 4.5303 EGP to JPY
JPY JPY HKD HKD 0.0562 JPY to HKD 17.7969 HKD to JPY
JPY JPY ILS ILS 0.0268 JPY to ILS 37.3076 ILS to JPY
JPY JPY JOD JOD 0.0051 JPY to JOD 196.7251 JOD to JPY
JPY JPY KWD KWD 0.0022 JPY to KWD 453.4709 KWD to JPY
JPY JPY LBP LBP 107.3336 JPY to LBP 0.0093 LBP to JPY
JPY JPY OMR OMR 0.0028 JPY to OMR 362.4105 OMR to JPY
JPY JPY QAR QAR 0.0261 JPY to QAR 38.3292 QAR to JPY
JPY JPY SAR SAR 0.0269 JPY to SAR 37.2091 SAR to JPY
JPY JPY AED AED 0.0263 JPY to AED 37.9911 AED to JPY
JPY JPY YER YER 1.7937 JPY to YER 0.5575 YER to JPY
Updated: 2023-06-06
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY DZD DZD 0.9788 JPY to DZD 1.0217 DZD to JPY
JPY JPY KES KES 0.994 JPY to KES 1.006 KES to JPY
JPY JPY MUR MUR 0.3268 JPY to MUR 3.0603 MUR to JPY
JPY JPY MAD MAD 0.0725 JPY to MAD 13.7865 MAD to JPY
JPY JPY NAD NAD 0.1399 JPY to NAD 7.1485 NAD to JPY
JPY JPY NIO NIO 0.2615 JPY to NIO 3.8235 NIO to JPY
JPY JPY NGN NGN 3.3077 JPY to NGN 0.3023 NGN to JPY
JPY JPY SLL SLL 141.5388 JPY to SLL 0.0071 SLL to JPY
JPY JPY ZAR ZAR 0.1381 JPY to ZAR 7.2425 ZAR to JPY
JPY JPY TZS TZS 16.9775 JPY to TZS 0.0589 TZS to JPY
JPY JPY TND TND 0.0223 JPY to TND 44.8349 TND to JPY
JPY JPY UGX UGX 26.7092 JPY to UGX 0.0374 UGX to JPY
JPY JPY XOF XOF 4.3866 JPY to XOF 0.228 XOF to JPY
JPY JPY ZMK ZMK 64.5075 JPY to ZMK 0.0155 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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