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Japanese Yen (JPY) Exchange Rates on 21st November 2024 (21/11/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-11-21
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	196.2557	GBP to JPY
JPY	BGN	0.012	JPY to BGN	83.659	BGN to JPY
JPY	HRK	0.046	JPY to HRK	21.7405	HRK to JPY
JPY	CZK	0.1546	JPY to CZK	6.4697	CZK to JPY
JPY	DKK	0.0456	JPY to DKK	21.9373	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.5044	JPY to HUF	0.3993	HUF to JPY
JPY	KZT	3.2059	JPY to KZT	0.3119	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	256.378	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.376	JPY to MKD	2.6599	MKD to JPY
JPY	MDL	0.1175	JPY to MDL	8.5139	MDL to JPY
JPY	NOK	0.0712	JPY to NOK	14.0361	NOK to JPY
JPY	PLN	0.0265	JPY to PLN	37.739	PLN to JPY
JPY	RON	0.0304	JPY to RON	32.8765	RON to JPY
JPY	RUB	0.6481	JPY to RUB	1.543	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.071	JPY to SEK	14.0824	SEK to JPY
JPY	CHF	0.0057	JPY to CHF	175.6629	CHF to JPY
JPY	TRY	0.2224	JPY to TRY	4.4962	TRY to JPY
JPY	UAH	0.2661	JPY to UAH	3.7578	UAH to JPY

					Updated: 2024-11-21
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	6.466	JPY to ARS	0.1547	ARS to JPY
JPY	BOB	0.0447	JPY to BOB	22.3758	BOB to JPY
JPY	BRL	0.0372	JPY to BRL	26.8473	BRL to JPY
JPY	CAD	0.009	JPY to CAD	111.0473	CAD to JPY
JPY	KYD	0.0054	JPY to KYD	185.9307	KYD to JPY
JPY	CLP	6.2794	JPY to CLP	0.1592	CLP to JPY
JPY	COP	28.3504	JPY to COP	0.0353	COP to JPY
JPY	CRC	3.2773	JPY to CRC	0.3051	CRC to JPY
JPY	DOP	0.3892	JPY to DOP	2.5691	DOP to JPY
JPY	SVC	0.0565	JPY to SVC	17.7092	SVC to JPY
JPY	FJD	0.0146	JPY to FJD	68.3416	FJD to JPY
JPY	HNL	0.1631	JPY to HNL	6.1318	HNL to JPY
JPY	JMD	1.023	JPY to JMD	0.9776	JMD to JPY
JPY	MXN	0.1309	JPY to MXN	7.6407	MXN to JPY
JPY	ANG	0.0116	JPY to ANG	85.9776	ANG to JPY
JPY	PYG	50.5423	JPY to PYG	0.0198	PYG to JPY
JPY	PEN	0.0245	JPY to PEN	40.8311	PEN to JPY
JPY	TTD	0.0437	JPY to TTD	22.8862	TTD to JPY
JPY	USD	0.0064	JPY to USD	155.0805	USD to JPY
JPY	UYU	0.2759	JPY to UYU	3.6247	UYU to JPY
JPY	VEF	23425.4073	JPY to VEF	0	VEF to JPY

					Updated: 2024-11-21
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0099	JPY to AUD	101.0364	AUD to JPY
JPY	BDT	0.7712	JPY to BDT	1.2966	BDT to JPY
JPY	BND	0.0087	JPY to BND	115.3766	BND to JPY
JPY	CNY	0.0467	JPY to CNY	21.4129	CNY to JPY
JPY	INR	0.5444	JPY to INR	1.8367	INR to JPY
JPY	IDR	102.7768	JPY to IDR	0.0097	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0288	JPY to MYR	34.7286	MYR to JPY
JPY	MVR	0.0997	JPY to MVR	10.031	MVR to JPY
JPY	NPR	0.8711	JPY to NPR	1.148	NPR to JPY
JPY	NZD	0.011	JPY to NZD	91.1634	NZD to JPY
JPY	PKR	1.7941	JPY to PKR	0.5574	PKR to JPY
JPY	PGK	0.026	JPY to PGK	38.4907	PGK to JPY
JPY	PHP	0.3801	JPY to PHP	2.6308	PHP to JPY
JPY	SCR	0.0878	JPY to SCR	11.3851	SCR to JPY
JPY	SGD	0.0087	JPY to SGD	115.5157	SGD to JPY
JPY	KRW	9.0134	JPY to KRW	0.1109	KRW to JPY
JPY	LKR	1.8777	JPY to LKR	0.5326	LKR to JPY
JPY	TWD	0.2101	JPY to TWD	4.7593	TWD to JPY
JPY	THB	0.2236	JPY to THB	4.4716	THB to JPY

					Updated: 2024-11-21
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	411.4371	BHD to JPY
JPY	EGP	0.3207	JPY to EGP	3.1185	EGP to JPY
JPY	HKD	0.0502	JPY to HKD	19.9264	HKD to JPY
JPY	ILS	0.0241	JPY to ILS	41.4954	ILS to JPY
JPY	JOD	0.0046	JPY to JOD	218.7006	JOD to JPY
JPY	KWD	0.002	JPY to KWD	504.2939	KWD to JPY
JPY	LBP	577.9809	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	402.7975	OMR to JPY
JPY	QAR	0.0235	JPY to QAR	42.4913	QAR to JPY
JPY	SAR	0.0242	JPY to SAR	41.3035	SAR to JPY
JPY	AED	0.0237	JPY to AED	42.2217	AED to JPY
JPY	YER	1.6116	JPY to YER	0.6205	YER to JPY

					Updated: 2024-11-21
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.8619	JPY to DZD	1.1602	DZD to JPY
JPY	KES	0.8357	JPY to KES	1.1966	KES to JPY
JPY	MUR	0.2998	JPY to MUR	3.3358	MUR to JPY
JPY	MAD	0.0645	JPY to MAD	15.5107	MAD to JPY
JPY	NAD	0.1171	JPY to NAD	8.543	NAD to JPY
JPY	NIO	0.2375	JPY to NIO	4.2108	NIO to JPY
JPY	NGN	10.8369	JPY to NGN	0.0923	NGN to JPY
JPY	SLL	135.2164	JPY to SLL	0.0074	SLL to JPY
JPY	ZAR	0.1168	JPY to ZAR	8.5609	ZAR to JPY
JPY	TZS	17.1031	JPY to TZS	0.0585	TZS to JPY
JPY	TND	0.0204	JPY to TND	49.0904	TND to JPY
JPY	UGX	23.8161	JPY to UGX	0.042	UGX to JPY
JPY	XOF	4.0108	JPY to XOF	0.2493	XOF to JPY
JPY	ZMK	58.042	JPY to ZMK	0.0172	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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