Japanese Yen (JPY) Exchange Rates on 10th December 2019 (10/12/2019)

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Exchange rates for Japanese Yen (JPY)

Updated: 2019-12-10
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JPY GBP 0.007 JPY to GBP 143.0321 GBP to JPY
JPY BGN 0.0163 JPY to BGN 61.4127 BGN to JPY
JPY HRK 0.0619 JPY to HRK 16.1428 HRK to JPY
JPY CZK 0.2126 JPY to CZK 4.7027 CZK to JPY
JPY DKK 0.0622 JPY to DKK 16.0748 DKK to JPY
JPY HUF 2.7554 JPY to HUF 0.3629 HUF to JPY
JPY KZT 3.5652 JPY to KZT 0.2805 KZT to JPY
JPY LVL 0.0056 JPY to LVL 179.5205 LVL to JPY
JPY LTL 0.0272 JPY to LTL 36.7761 LTL to JPY
JPY MKD 0.5131 JPY to MKD 1.9489 MKD to JPY
JPY MDL 0.1607 JPY to MDL 6.2234 MDL to JPY
JPY NOK 0.0841 JPY to NOK 11.8975 NOK to JPY
JPY PLN 0.0356 JPY to PLN 28.0969 PLN to JPY
JPY RON 0.0398 JPY to RON 25.1303 RON to JPY
JPY RUB 0.5864 JPY to RUB 1.7053 RUB to JPY
JPY SEK 0.0875 JPY to SEK 11.4307 SEK to JPY
JPY CHF 0.0091 JPY to CHF 109.6151 CHF to JPY
JPY TRY 0.0532 JPY to TRY 18.7799 TRY to JPY
JPY UAH 0.2191 JPY to UAH 4.5643 UAH to JPY
Updated: 2019-12-10
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JPY ARS 0.5538 JPY to ARS 1.8058 ARS to JPY
JPY BOB 0.0639 JPY to BOB 15.6541 BOB to JPY
JPY BRL 0.0381 JPY to BRL 26.221 BRL to JPY
JPY CAD 0.0122 JPY to CAD 81.9114 CAD to JPY
JPY KYD 0.0077 JPY to KYD 129.8912 KYD to JPY
JPY CLP 7.2014 JPY to CLP 0.1389 CLP to JPY
JPY COP 31.536 JPY to COP 0.0317 COP to JPY
JPY CRC 5.2287 JPY to CRC 0.1913 CRC to JPY
JPY DOP 0.4884 JPY to DOP 2.0474 DOP to JPY
JPY SVC 0.0808 JPY to SVC 12.3709 SVC to JPY
JPY FJD 0.02 JPY to FJD 49.9391 FJD to JPY
JPY HNL 0.2275 JPY to HNL 4.3964 HNL to JPY
JPY JMD 1.2944 JPY to JMD 0.7726 JMD to JPY
JPY MXN 0.1773 JPY to MXN 5.6416 MXN to JPY
JPY ANG 0.0158 JPY to ANG 63.1194 ANG to JPY
JPY PYG 59.5072 JPY to PYG 0.0168 PYG to JPY
JPY PEN 0.0312 JPY to PEN 32.0362 PEN to JPY
JPY TTD 0.0624 JPY to TTD 16.0211 TTD to JPY
JPY USD 0.0092 JPY to USD 108.5902 USD to JPY
JPY UYU 0.3495 JPY to UYU 2.8613 UYU to JPY
JPY VEF 0.092 JPY to VEF 10.8726 VEF to JPY
Updated: 2019-12-10
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JPY AUD 0.0135 JPY to AUD 74.2219 AUD to JPY
JPY BDT 0.7834 JPY to BDT 1.2765 BDT to JPY
JPY BND 0.0126 JPY to BND 79.6053 BND to JPY
JPY CNY 0.0648 JPY to CNY 15.4305 CNY to JPY
JPY INR 0.6553 JPY to INR 1.5261 INR to JPY
JPY IDR 129.0575 JPY to IDR 0.0077 IDR to JPY
JPY MYR 0.0383 JPY to MYR 26.0973 MYR to JPY
JPY MVR 0.1423 JPY to MVR 7.0286 MVR to JPY
JPY NPR 1.0527 JPY to NPR 0.9499 NPR to JPY
JPY NZD 0.014 JPY to NZD 71.2377 NZD to JPY
JPY PKR 1.4317 JPY to PKR 0.6985 PKR to JPY
JPY PGK 0.0314 JPY to PGK 31.7987 PGK to JPY
JPY PHP 0.468 JPY to PHP 2.137 PHP to JPY
JPY SCR 0.1262 JPY to SCR 7.9243 SCR to JPY
JPY SGD 0.0125 JPY to SGD 79.8574 SGD to JPY
JPY KRW 10.9567 JPY to KRW 0.0913 KRW to JPY
JPY LKR 1.6739 JPY to LKR 0.5974 LKR to JPY
JPY TWD 0.2806 JPY to TWD 3.5644 TWD to JPY
JPY THB 0.2795 JPY to THB 3.5779 THB to JPY
Updated: 2019-12-10
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JPY BHD 0.0035 JPY to BHD 287.9031 BHD to JPY
JPY EGP 0.1486 JPY to EGP 6.7285 EGP to JPY
JPY HKD 0.0721 JPY to HKD 13.8737 HKD to JPY
JPY ILS 0.032 JPY to ILS 31.2891 ILS to JPY
JPY JOD 0.0065 JPY to JOD 153.1589 JOD to JPY
JPY KWD 0.0028 JPY to KWD 357.6872 KWD to JPY
JPY LBP 13.9677 JPY to LBP 0.0716 LBP to JPY
JPY OMR 0.0035 JPY to OMR 281.9878 OMR to JPY
JPY QAR 0.0335 JPY to QAR 29.8263 QAR to JPY
JPY SAR 0.0345 JPY to SAR 28.9566 SAR to JPY
JPY AED 0.0338 JPY to AED 29.5633 AED to JPY
JPY YER 2.3055 JPY to YER 0.4338 YER to JPY
Updated: 2019-12-10
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JPY DZD 1.1032 JPY to DZD 0.9065 DZD to JPY
JPY KES 0.9367 JPY to KES 1.0675 KES to JPY
JPY MUR 0.3362 JPY to MUR 2.9746 MUR to JPY
JPY MAD 0.089 JPY to MAD 11.2387 MAD to JPY
JPY NAD 0.1349 JPY to NAD 7.4123 NAD to JPY
JPY NIO 0.3116 JPY to NIO 3.2088 NIO to JPY
JPY NGN 3.3379 JPY to NGN 0.2996 NGN to JPY
JPY SLL 89.787 JPY to SLL 0.0111 SLL to JPY
JPY ZAR 0.1346 JPY to ZAR 7.431 ZAR to JPY
JPY TZS 21.1585 JPY to TZS 0.0473 TZS to JPY
JPY TND 0.0263 JPY to TND 38.0417 TND to JPY
JPY UGX 34.0418 JPY to UGX 0.0294 UGX to JPY
JPY XOF 5.4625 JPY to XOF 0.1831 XOF to JPY
JPY ZMK 82.8914 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
XE.com Live Currency Converter for JPY

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