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Japanese Yen (JPY) Exchange Rates on 08th December 2023 (08/12/2023)

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Exchange rates for Japanese Yen (JPY)

Updated: 2023-12-08
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY GBP GBP 0.0055 JPY to GBP 181.0444 GBP to JPY
JPY JPY BGN BGN 0.0126 JPY to BGN 79.3755 BGN to JPY
JPY JPY HRK HRK 0.049 JPY to HRK 20.4215 HRK to JPY
JPY JPY CZK CZK 0.157 JPY to CZK 6.371 CZK to JPY
JPY JPY DKK DKK 0.0481 JPY to DKK 20.798 DKK to JPY
JPY JPY HUF HUF 2.4633 JPY to HUF 0.406 HUF to JPY
JPY JPY KZT KZT 3.1877 JPY to KZT 0.3137 KZT to JPY
JPY JPY LVL LVL 0.0042 JPY to LVL 237.7286 LVL to JPY
JPY JPY MKD MKD 0.3965 JPY to MKD 2.522 MKD to JPY
JPY JPY MDL MDL 0.1232 JPY to MDL 8.1138 MDL to JPY
JPY JPY NOK NOK 0.0755 JPY to NOK 13.2392 NOK to JPY
JPY JPY PLN PLN 0.028 JPY to PLN 35.7751 PLN to JPY
JPY JPY RON RON 0.032 JPY to RON 31.2058 RON to JPY
JPY JPY RUB RUB 0.6421 JPY to RUB 1.5574 RUB to JPY
JPY JPY SEK SEK 0.0722 JPY to SEK 13.8431 SEK to JPY
JPY JPY CHF CHF 0.0061 JPY to CHF 164.264 CHF to JPY
JPY JPY TRY TRY 0.2014 JPY to TRY 4.9657 TRY to JPY
JPY JPY UAH UAH 0.2547 JPY to UAH 3.9263 UAH to JPY
Updated: 2023-12-08
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY ARS ARS 2.5307 JPY to ARS 0.3951 ARS to JPY
JPY JPY BOB BOB 0.048 JPY to BOB 20.8424 BOB to JPY
JPY JPY BRL BRL 0.0342 JPY to BRL 29.2778 BRL to JPY
JPY JPY CAD CAD 0.0094 JPY to CAD 105.9222 CAD to JPY
JPY JPY KYD KYD 0.0058 JPY to KYD 172.8271 KYD to JPY
JPY JPY CLP CLP 6.0686 JPY to CLP 0.1648 CLP to JPY
JPY JPY COP COP 27.8129 JPY to COP 0.036 COP to JPY
JPY JPY CRC CRC 3.6641 JPY to CRC 0.2729 CRC to JPY
JPY JPY DOP DOP 0.3953 JPY to DOP 2.5298 DOP to JPY
JPY JPY SVC SVC 0.0621 JPY to SVC 16.0936 SVC to JPY
JPY JPY FJD FJD 0.0155 JPY to FJD 64.4912 FJD to JPY
JPY JPY HNL HNL 0.1713 JPY to HNL 5.8393 HNL to JPY
JPY JPY JMD JMD 1.0813 JPY to JMD 0.9248 JMD to JPY
JPY JPY MXN MXN 0.1216 JPY to MXN 8.2257 MXN to JPY
JPY JPY ANG ANG 0.0125 JPY to ANG 79.9128 ANG to JPY
JPY JPY PYG PYG 51.1649 JPY to PYG 0.0195 PYG to JPY
JPY JPY PEN PEN 0.0261 JPY to PEN 38.3775 PEN to JPY
JPY JPY TTD TTD 0.0472 JPY to TTD 21.207 TTD to JPY
JPY JPY USD USD 0.007 JPY to USD 143.7997 USD to JPY
JPY JPY UYU UYU 0.2721 JPY to UYU 3.6753 UYU to JPY
JPY JPY VEF VEF 24709.8476 JPY to VEF 0 VEF to JPY
Updated: 2023-12-08
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY AUD AUD 0.0105 JPY to AUD 95.1453 AUD to JPY
JPY JPY BDT BDT 0.7637 JPY to BDT 1.3093 BDT to JPY
JPY JPY BND BND 0.0093 JPY to BND 107.4659 BND to JPY
JPY JPY CNY CNY 0.0495 JPY to CNY 20.1991 CNY to JPY
JPY JPY INR INR 0.5798 JPY to INR 1.7248 INR to JPY
JPY JPY IDR IDR 107.7885 JPY to IDR 0.0093 IDR to JPY
JPY JPY MYR MYR 0.0325 JPY to MYR 30.8122 MYR to JPY
JPY JPY MVR MVR 0.1069 JPY to MVR 9.3558 MVR to JPY
JPY JPY NPR NPR 0.9261 JPY to NPR 1.0798 NPR to JPY
JPY JPY NZD NZD 0.0113 JPY to NZD 88.7018 NZD to JPY
JPY JPY PKR PKR 1.9719 JPY to PKR 0.5071 PKR to JPY
JPY JPY PGK PGK 0.0259 JPY to PGK 38.6272 PGK to JPY
JPY JPY PHP PHP 0.3851 JPY to PHP 2.597 PHP to JPY
JPY JPY SCR SCR 0.0885 JPY to SCR 11.2951 SCR to JPY
JPY JPY SGD SGD 0.0093 JPY to SGD 107.5958 SGD to JPY
JPY JPY KRW KRW 9.0846 JPY to KRW 0.1101 KRW to JPY
JPY JPY LKR LKR 2.27 JPY to LKR 0.4405 LKR to JPY
JPY JPY TWD TWD 0.2178 JPY to TWD 4.5923 TWD to JPY
JPY JPY THB THB 0.2446 JPY to THB 4.088 THB to JPY
Updated: 2023-12-08
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY BHD BHD 0.0026 JPY to BHD 381.4636 BHD to JPY
JPY JPY EGP EGP 0.2149 JPY to EGP 4.6526 EGP to JPY
JPY JPY HKD HKD 0.0543 JPY to HKD 18.4061 HKD to JPY
JPY JPY ILS ILS 0.0257 JPY to ILS 38.8863 ILS to JPY
JPY JPY JOD JOD 0.0049 JPY to JOD 202.7334 JOD to JPY
JPY JPY KWD KWD 0.0021 JPY to KWD 466.5336 KWD to JPY
JPY JPY LBP LBP 104.4003 JPY to LBP 0.0096 LBP to JPY
JPY JPY OMR OMR 0.0027 JPY to OMR 373.4812 OMR to JPY
JPY JPY QAR QAR 0.0253 JPY to QAR 39.4948 QAR to JPY
JPY JPY SAR SAR 0.0261 JPY to SAR 38.339 SAR to JPY
JPY JPY AED AED 0.0255 JPY to AED 39.1558 AED to JPY
JPY JPY YER YER 1.7408 JPY to YER 0.5745 YER to JPY
Updated: 2023-12-08
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY DZD DZD 0.9352 JPY to DZD 1.0693 DZD to JPY
JPY JPY KES KES 1.0664 JPY to KES 0.9377 KES to JPY
JPY JPY MUR MUR 0.3066 JPY to MUR 3.2612 MUR to JPY
JPY JPY MAD MAD 0.0702 JPY to MAD 14.2397 MAD to JPY
JPY JPY NAD NAD 0.1304 JPY to NAD 7.6694 NAD to JPY
JPY JPY NIO NIO 0.2541 JPY to NIO 3.9352 NIO to JPY
JPY JPY NGN NGN 5.5703 JPY to NGN 0.1795 NGN to JPY
JPY JPY SLL SLL 137.344 JPY to SLL 0.0073 SLL to JPY
JPY JPY ZAR ZAR 0.1305 JPY to ZAR 7.6655 ZAR to JPY
JPY JPY TZS TZS 17.4201 JPY to TZS 0.0574 TZS to JPY
JPY JPY TND TND 0.0217 JPY to TND 46.038 TND to JPY
JPY JPY UGX UGX 26.2037 JPY to UGX 0.0382 UGX to JPY
JPY JPY XOF XOF 4.2286 JPY to XOF 0.2365 XOF to JPY
JPY JPY ZMK ZMK 62.5954 JPY to ZMK 0.016 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

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