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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	GBP	0.0058	JPY to GBP	173.599	GBP to JPY
JPY	BGN	0.0131	JPY to BGN	76.4598	BGN to JPY
JPY	HRK	0.0498	JPY to HRK	20.0937	HRK to JPY
JPY	CZK	0.1574	JPY to CZK	6.353	CZK to JPY
JPY	DKK	0.0498	JPY to DKK	20.0732	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.4697	JPY to HUF	0.4049	HUF to JPY
JPY	KZT	3.2054	JPY to KZT	0.312	KZT to JPY
JPY	LVL	0.0043	JPY to LVL	230.6822	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.4114	JPY to MKD	2.4305	MKD to JPY
JPY	MDL	0.1274	JPY to MDL	7.8476	MDL to JPY
JPY	NOK	0.079	JPY to NOK	12.6552	NOK to JPY
JPY	PLN	0.0299	JPY to PLN	33.4089	PLN to JPY
JPY	RON	0.0332	JPY to RON	30.1227	RON to JPY
JPY	RUB	0.5795	JPY to RUB	1.7257	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0777	JPY to SEK	12.8733	SEK to JPY
JPY	CHF	0.0065	JPY to CHF	154.0649	CHF to JPY
JPY	TRY	0.1529	JPY to TRY	6.5402	TRY to JPY
JPY	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	ARS	1.7375	JPY to ARS	0.5755	ARS to JPY
JPY	BOB	0.0494	JPY to BOB	20.2374	BOB to JPY
JPY	BRL	0.0353	JPY to BRL	28.3212	BRL to JPY
JPY	CAD	0.0096	JPY to CAD	103.8879	CAD to JPY
JPY	KYD	0.006	JPY to KYD	167.7941	KYD to JPY
JPY	CLP	5.716	JPY to CLP	0.1749	CLP to JPY
JPY	COP	30.7874	JPY to COP	0.0325	COP to JPY
JPY	CRC	3.8473	JPY to CRC	0.2599	CRC to JPY
JPY	DOP	0.3923	JPY to DOP	2.5488	DOP to JPY
JPY	SVC	0.0626	JPY to SVC	15.9813	SVC to JPY
JPY	FJD	0.016	JPY to FJD	62.3712	FJD to JPY
JPY	HNL	0.1759	JPY to HNL	5.686	HNL to JPY
JPY	JMD	1.1072	JPY to JMD	0.9032	JMD to JPY
JPY	MXN	0.1251	JPY to MXN	7.9938	MXN to JPY
JPY	ANG	0.0129	JPY to ANG	77.5962	ANG to JPY
JPY	PYG	51.5929	JPY to PYG	0.0194	PYG to JPY
JPY	PEN	0.0264	JPY to PEN	37.927	PEN to JPY
JPY	TTD	0.0485	JPY to TTD	20.6315	TTD to JPY
JPY	USD	0.0072	JPY to USD	139.5374	USD to JPY
JPY	UYU	0.2775	JPY to UYU	3.6033	UYU to JPY
JPY	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	AUD	0.0108	JPY to AUD	92.3459	AUD to JPY
JPY	BDT	0.7704	JPY to BDT	1.298	BDT to JPY
JPY	BND	0.0097	JPY to BND	103.4275	BND to JPY
JPY	CNY	0.051	JPY to CNY	19.6225	CNY to JPY
JPY	INR	0.5918	JPY to INR	1.6897	INR to JPY
JPY	IDR	106.3161	JPY to IDR	0.0094	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.033	JPY to MYR	30.3441	MYR to JPY
JPY	MVR	0.1101	JPY to MVR	9.0844	MVR to JPY
JPY	NPR	0.945	JPY to NPR	1.0582	NPR to JPY
JPY	NZD	0.0118	JPY to NZD	84.775	NZD to JPY
JPY	PKR	2.0458	JPY to PKR	0.4888	PKR to JPY
JPY	PGK	0.0254	JPY to PGK	39.4032	PGK to JPY
JPY	PHP	0.403	JPY to PHP	2.4816	PHP to JPY
JPY	SCR	0.1003	JPY to SCR	9.9705	SCR to JPY
JPY	SGD	0.0097	JPY to SGD	103.4145	SGD to JPY
JPY	KRW	9.3148	JPY to KRW	0.1074	KRW to JPY
JPY	LKR	2.081	JPY to LKR	0.4805	LKR to JPY
JPY	TWD	0.22	JPY to TWD	4.5448	TWD to JPY
JPY	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	BHD	0.0027	JPY to BHD	370.1162	BHD to JPY
JPY	EGP	0.2207	JPY to EGP	4.5303	EGP to JPY
JPY	HKD	0.0562	JPY to HKD	17.7969	HKD to JPY
JPY	ILS	0.0268	JPY to ILS	37.3076	ILS to JPY
JPY	JOD	0.0051	JPY to JOD	196.7251	JOD to JPY
JPY	KWD	0.0022	JPY to KWD	453.4709	KWD to JPY
JPY	LBP	107.3336	JPY to LBP	0.0093	LBP to JPY
JPY	OMR	0.0028	JPY to OMR	362.4105	OMR to JPY
JPY	QAR	0.0261	JPY to QAR	38.3292	QAR to JPY
JPY	SAR	0.0269	JPY to SAR	37.2091	SAR to JPY
JPY	AED	0.0263	JPY to AED	37.9911	AED to JPY
JPY	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	DZD	0.9788	JPY to DZD	1.0217	DZD to JPY
JPY	KES	0.994	JPY to KES	1.006	KES to JPY
JPY	MUR	0.3268	JPY to MUR	3.0603	MUR to JPY
JPY	MAD	0.0725	JPY to MAD	13.7865	MAD to JPY
JPY	NAD	0.1399	JPY to NAD	7.1485	NAD to JPY
JPY	NIO	0.2615	JPY to NIO	3.8235	NIO to JPY
JPY	NGN	3.3077	JPY to NGN	0.3023	NGN to JPY
JPY	SLL	141.5388	JPY to SLL	0.0071	SLL to JPY
JPY	ZAR	0.1381	JPY to ZAR	7.2425	ZAR to JPY
JPY	TZS	16.9775	JPY to TZS	0.0589	TZS to JPY
JPY	TND	0.0223	JPY to TND	44.8349	TND to JPY
JPY	UGX	26.7092	JPY to UGX	0.0374	UGX to JPY
JPY	XOF	4.3866	JPY to XOF	0.228	XOF to JPY
JPY	ZMK	64.5075	JPY to ZMK	0.0155	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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