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Japanese Yen (JPY) Exchange Rates on 24th December 2024 (24/12/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-12-24
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	196.9233	GBP to JPY
JPY	BGN	0.012	JPY to BGN	83.4718	BGN to JPY
JPY	HRK	0.0458	JPY to HRK	21.8241	HRK to JPY
JPY	CZK	0.1536	JPY to CZK	6.5111	CZK to JPY
JPY	DKK	0.0456	JPY to DKK	21.9171	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.5328	JPY to HUF	0.3948	HUF to JPY
JPY	KZT	3.3406	JPY to KZT	0.2993	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	258.7949	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3767	JPY to MKD	2.6549	MKD to JPY
JPY	MDL	0.1172	JPY to MDL	8.535	MDL to JPY
JPY	NOK	0.0722	JPY to NOK	13.8409	NOK to JPY
JPY	PLN	0.0261	JPY to PLN	38.3739	PLN to JPY
JPY	RON	0.0304	JPY to RON	32.8579	RON to JPY
JPY	RUB	0.6571	JPY to RUB	1.5219	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0703	JPY to SEK	14.216	SEK to JPY
JPY	CHF	0.0057	JPY to CHF	175.2677	CHF to JPY
JPY	TRY	0.2248	JPY to TRY	4.4481	TRY to JPY
JPY	UAH	0.2667	JPY to UAH	3.7489	UAH to JPY

					Updated: 2024-12-24
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	6.4971	JPY to ARS	0.1539	ARS to JPY
JPY	BOB	0.044	JPY to BOB	22.7502	BOB to JPY
JPY	BRL	0.0388	JPY to BRL	25.7461	BRL to JPY
JPY	CAD	0.0092	JPY to CAD	109.03	CAD to JPY
JPY	KYD	0.0053	JPY to KYD	188.6478	KYD to JPY
JPY	CLP	6.3187	JPY to CLP	0.1583	CLP to JPY
JPY	COP	28.0435	JPY to COP	0.0357	COP to JPY
JPY	CRC	3.2093	JPY to CRC	0.3116	CRC to JPY
JPY	DOP	0.3873	JPY to DOP	2.5817	DOP to JPY
JPY	SVC	0.0557	JPY to SVC	17.9682	SVC to JPY
JPY	FJD	0.0148	JPY to FJD	67.5609	FJD to JPY
JPY	HNL	0.1615	JPY to HNL	6.1931	HNL to JPY
JPY	JMD	0.9952	JPY to JMD	1.0048	JMD to JPY
JPY	MXN	0.1282	JPY to MXN	7.8015	MXN to JPY
JPY	ANG	0.0115	JPY to ANG	87.2323	ANG to JPY
JPY	PYG	49.5945	JPY to PYG	0.0202	PYG to JPY
JPY	PEN	0.0237	JPY to PEN	42.2186	PEN to JPY
JPY	TTD	0.0432	JPY to TTD	23.1654	TTD to JPY
JPY	USD	0.0064	JPY to USD	156.5577	USD to JPY
JPY	UYU	0.2837	JPY to UYU	3.525	UYU to JPY
JPY	VEF	23218.0623	JPY to VEF	0	VEF to JPY

					Updated: 2024-12-24
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0102	JPY to AUD	97.9148	AUD to JPY
JPY	BDT	0.7601	JPY to BDT	1.3156	BDT to JPY
JPY	BND	0.0086	JPY to BND	115.7576	BND to JPY
JPY	CNY	0.0466	JPY to CNY	21.4489	CNY to JPY
JPY	INR	0.5433	JPY to INR	1.8406	INR to JPY
JPY	IDR	103.4647	JPY to IDR	0.0097	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0287	JPY to MYR	34.8663	MYR to JPY
JPY	MVR	0.0984	JPY to MVR	10.1642	MVR to JPY
JPY	NPR	0.8652	JPY to NPR	1.1557	NPR to JPY
JPY	NZD	0.0113	JPY to NZD	88.5069	NZD to JPY
JPY	PKR	1.7704	JPY to PKR	0.5649	PKR to JPY
JPY	PGK	0.0258	JPY to PGK	38.7682	PGK to JPY
JPY	PHP	0.3745	JPY to PHP	2.67	PHP to JPY
JPY	SCR	0.089	JPY to SCR	11.2354	SCR to JPY
JPY	SGD	0.0087	JPY to SGD	115.581	SGD to JPY
JPY	KRW	9.2645	JPY to KRW	0.1079	KRW to JPY
JPY	LKR	1.8675	JPY to LKR	0.5355	LKR to JPY
JPY	TWD	0.2088	JPY to TWD	4.7887	TWD to JPY
JPY	THB	0.219	JPY to THB	4.567	THB to JPY

					Updated: 2024-12-24
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	416.6519	BHD to JPY
JPY	EGP	0.3248	JPY to EGP	3.0789	EGP to JPY
JPY	HKD	0.0496	JPY to HKD	20.1471	HKD to JPY
JPY	ILS	0.0233	JPY to ILS	42.9836	ILS to JPY
JPY	JOD	0.0045	JPY to JOD	220.7607	JOD to JPY
JPY	KWD	0.002	JPY to KWD	508.3364	KWD to JPY
JPY	LBP	569.6116	JPY to LBP	0.0018	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	406.9172	OMR to JPY
JPY	QAR	0.0232	JPY to QAR	43.1289	QAR to JPY
JPY	SAR	0.024	JPY to SAR	41.6754	SAR to JPY
JPY	AED	0.0235	JPY to AED	42.6203	AED to JPY
JPY	YER	1.5992	JPY to YER	0.6253	YER to JPY

					Updated: 2024-12-24
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.8609	JPY to DZD	1.1615	DZD to JPY
JPY	KES	0.8212	JPY to KES	1.2178	KES to JPY
JPY	MUR	0.3015	JPY to MUR	3.3165	MUR to JPY
JPY	MAD	0.064	JPY to MAD	15.6204	MAD to JPY
JPY	NAD	0.1171	JPY to NAD	8.5392	NAD to JPY
JPY	NIO	0.2341	JPY to NIO	4.2722	NIO to JPY
JPY	NGN	9.8788	JPY to NGN	0.1012	NGN to JPY
JPY	SLL	133.9412	JPY to SLL	0.0075	SLL to JPY
JPY	ZAR	0.1169	JPY to ZAR	8.5561	ZAR to JPY
JPY	TZS	15.4257	JPY to TZS	0.0648	TZS to JPY
JPY	TND	0.0203	JPY to TND	49.3417	TND to JPY
JPY	UGX	23.3314	JPY to UGX	0.0429	UGX to JPY
JPY	XOF	4.0148	JPY to XOF	0.2491	XOF to JPY
JPY	ZMK	57.4945	JPY to ZMK	0.0174	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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