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Japanese Yen (JPY) Exchange Rates on 27th July 2024 (27/07/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-07-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	197.8385	GBP to JPY
JPY	BGN	0.0117	JPY to BGN	85.3252	BGN to JPY
JPY	HRK	0.0449	JPY to HRK	22.2562	HRK to JPY
JPY	CZK	0.1518	JPY to CZK	6.5867	CZK to JPY
JPY	DKK	0.0447	JPY to DKK	22.366	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.3431	JPY to HUF	0.4268	HUF to JPY
JPY	KZT	3.0799	JPY to KZT	0.3247	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	254.1699	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.369	JPY to MKD	2.7097	MKD to JPY
JPY	MDL	0.1154	JPY to MDL	8.665	MDL to JPY
JPY	NOK	0.0714	JPY to NOK	13.9998	NOK to JPY
JPY	PLN	0.0256	JPY to PLN	39.0543	PLN to JPY
JPY	RON	0.0298	JPY to RON	33.5745	RON to JPY
JPY	RUB	0.5592	JPY to RUB	1.7883	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0703	JPY to SEK	14.2168	SEK to JPY
JPY	CHF	0.0057	JPY to CHF	173.9852	CHF to JPY
JPY	TRY	0.2143	JPY to TRY	4.6671	TRY to JPY
JPY	UAH	0.2669	JPY to UAH	3.7463	UAH to JPY

					Updated: 2024-07-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	6.0367	JPY to ARS	0.1657	ARS to JPY
JPY	BOB	0.0449	JPY to BOB	22.2579	BOB to JPY
JPY	BRL	0.0368	JPY to BRL	27.1821	BRL to JPY
JPY	CAD	0.009	JPY to CAD	111.1718	CAD to JPY
JPY	KYD	0.0054	JPY to KYD	184.5636	KYD to JPY
JPY	CLP	6.1618	JPY to CLP	0.1623	CLP to JPY
JPY	COP	26.2329	JPY to COP	0.0381	COP to JPY
JPY	CRC	3.4376	JPY to CRC	0.2909	CRC to JPY
JPY	DOP	0.3848	JPY to DOP	2.5985	DOP to JPY
JPY	SVC	0.0569	JPY to SVC	17.5781	SVC to JPY
JPY	FJD	0.0147	JPY to FJD	68.0601	FJD to JPY
JPY	HNL	0.161	JPY to HNL	6.2122	HNL to JPY
JPY	JMD	1.017	JPY to JMD	0.9833	JMD to JPY
JPY	MXN	0.1201	JPY to MXN	8.3289	MXN to JPY
JPY	ANG	0.0117	JPY to ANG	85.3416	ANG to JPY
JPY	PYG	49.2336	JPY to PYG	0.0203	PYG to JPY
JPY	PEN	0.0244	JPY to PEN	40.9202	PEN to JPY
JPY	TTD	0.0441	JPY to TTD	22.6591	TTD to JPY
JPY	USD	0.0065	JPY to USD	153.7448	USD to JPY
JPY	UYU	0.2618	JPY to UYU	3.8204	UYU to JPY
JPY	VEF	23562.6789	JPY to VEF	0	VEF to JPY

					Updated: 2024-07-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0099	JPY to AUD	100.6565	AUD to JPY
JPY	BDT	0.7639	JPY to BDT	1.309	BDT to JPY
JPY	BND	0.0087	JPY to BND	114.4556	BND to JPY
JPY	CNY	0.0472	JPY to CNY	21.205	CNY to JPY
JPY	INR	0.5447	JPY to INR	1.8359	INR to JPY
JPY	IDR	106.047	JPY to IDR	0.0094	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0303	JPY to MYR	33.0101	MYR to JPY
JPY	MVR	0.0998	JPY to MVR	10.0157	MVR to JPY
JPY	NPR	0.8709	JPY to NPR	1.1482	NPR to JPY
JPY	NZD	0.011	JPY to NZD	90.5251	NZD to JPY
JPY	PKR	1.8095	JPY to PKR	0.5526	PKR to JPY
JPY	PGK	0.0255	JPY to PGK	39.2062	PGK to JPY
JPY	PHP	0.3805	JPY to PHP	2.6281	PHP to JPY
JPY	SCR	0.0886	JPY to SCR	11.2925	SCR to JPY
JPY	SGD	0.0087	JPY to SGD	114.5127	SGD to JPY
JPY	KRW	9.0076	JPY to KRW	0.111	KRW to JPY
JPY	LKR	1.9701	JPY to LKR	0.5076	LKR to JPY
JPY	TWD	0.2134	JPY to TWD	4.6855	TWD to JPY
JPY	THB	0.2335	JPY to THB	4.2822	THB to JPY

					Updated: 2024-07-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0025	JPY to BHD	408.0623	BHD to JPY
JPY	EGP	0.3139	JPY to EGP	3.1855	EGP to JPY
JPY	HKD	0.0508	JPY to HKD	19.6938	HKD to JPY
JPY	ILS	0.0238	JPY to ILS	42.0202	ILS to JPY
JPY	JOD	0.0046	JPY to JOD	216.9377	JOD to JPY
JPY	KWD	0.002	JPY to KWD	502.6795	KWD to JPY
JPY	LBP	582.2307	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	399.5002	OMR to JPY
JPY	QAR	0.0237	JPY to QAR	42.1681	QAR to JPY
JPY	SAR	0.0244	JPY to SAR	40.9809	SAR to JPY
JPY	AED	0.0239	JPY to AED	41.8576	AED to JPY
JPY	YER	1.6284	JPY to YER	0.6141	YER to JPY

					Updated: 2024-07-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.8738	JPY to DZD	1.1445	DZD to JPY
JPY	KES	0.8452	JPY to KES	1.1832	KES to JPY
JPY	MUR	0.3045	JPY to MUR	3.2837	MUR to JPY
JPY	MAD	0.064	JPY to MAD	15.6158	MAD to JPY
JPY	NAD	0.1187	JPY to NAD	8.4252	NAD to JPY
JPY	NIO	0.2393	JPY to NIO	4.1787	NIO to JPY
JPY	NGN	10.3809	JPY to NGN	0.0963	NGN to JPY
JPY	SLL	136.3916	JPY to SLL	0.0073	SLL to JPY
JPY	ZAR	0.1189	JPY to ZAR	8.4137	ZAR to JPY
JPY	TZS	17.5543	JPY to TZS	0.057	TZS to JPY
JPY	TND	0.0202	JPY to TND	49.5784	TND to JPY
JPY	UGX	24.2485	JPY to UGX	0.0412	UGX to JPY
JPY	XOF	3.9284	JPY to XOF	0.2546	XOF to JPY
JPY	ZMK	58.5464	JPY to ZMK	0.0171	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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