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Japanese Yen (JPY) Exchange Rates on 06th May 2024 (06/05/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-05-06
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0052	JPY to GBP	193.1112	GBP to JPY
JPY	BGN	0.0118	JPY to BGN	84.6936	BGN to JPY
JPY	HRK	0.046	JPY to HRK	21.7379	HRK to JPY
JPY	CZK	0.1513	JPY to CZK	6.6075	CZK to JPY
JPY	DKK	0.045	JPY to DKK	22.2118	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.3515	JPY to HUF	0.4253	HUF to JPY
JPY	KZT	2.8816	JPY to KZT	0.347	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	254.4394	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3714	JPY to MKD	2.6922	MKD to JPY
JPY	MDL	0.1148	JPY to MDL	8.7071	MDL to JPY
JPY	NOK	0.0706	JPY to NOK	14.1615	NOK to JPY
JPY	PLN	0.0261	JPY to PLN	38.313	PLN to JPY
JPY	RON	0.03	JPY to RON	33.3128	RON to JPY
JPY	RUB	0.595	JPY to RUB	1.6806	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0703	JPY to SEK	14.23	SEK to JPY
JPY	CHF	0.0059	JPY to CHF	169.9139	CHF to JPY
JPY	TRY	0.2099	JPY to TRY	4.7652	TRY to JPY
JPY	UAH	0.2551	JPY to UAH	3.9195	UAH to JPY

					Updated: 2024-05-06
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	5.6951	JPY to ARS	0.1756	ARS to JPY
JPY	BOB	0.0449	JPY to BOB	22.2721	BOB to JPY
JPY	BRL	0.0331	JPY to BRL	30.1739	BRL to JPY
JPY	CAD	0.0089	JPY to CAD	112.4771	CAD to JPY
JPY	KYD	0.0054	JPY to KYD	185.0832	KYD to JPY
JPY	CLP	6.1271	JPY to CLP	0.1632	CLP to JPY
JPY	COP	25.2558	JPY to COP	0.0396	COP to JPY
JPY	CRC	3.3137	JPY to CRC	0.3018	CRC to JPY
JPY	DOP	0.3768	JPY to DOP	2.6542	DOP to JPY
JPY	SVC	0.0567	JPY to SVC	17.6281	SVC to JPY
JPY	FJD	0.0146	JPY to FJD	68.3033	FJD to JPY
JPY	HNL	0.1602	JPY to HNL	6.2436	HNL to JPY
JPY	JMD	1.0179	JPY to JMD	0.9824	JMD to JPY
JPY	MXN	0.1102	JPY to MXN	9.0728	MXN to JPY
JPY	ANG	0.0117	JPY to ANG	85.5827	ANG to JPY
JPY	PYG	48.5382	JPY to PYG	0.0206	PYG to JPY
JPY	PEN	0.0242	JPY to PEN	41.3167	PEN to JPY
JPY	TTD	0.0439	JPY to TTD	22.7737	TTD to JPY
JPY	USD	0.0065	JPY to USD	153.9685	USD to JPY
JPY	UYU	0.2484	JPY to UYU	4.025	UYU to JPY
JPY	VEF	23529.059	JPY to VEF	0	VEF to JPY

					Updated: 2024-05-06
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0098	JPY to AUD	101.828	AUD to JPY
JPY	BDT	0.7116	JPY to BDT	1.4053	BDT to JPY
JPY	BND	0.0088	JPY to BND	114.069	BND to JPY
JPY	CNY	0.0469	JPY to CNY	21.3275	CNY to JPY
JPY	INR	0.5422	JPY to INR	1.8444	INR to JPY
JPY	IDR	104.1009	JPY to IDR	0.0096	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0308	JPY to MYR	32.4597	MYR to JPY
JPY	MVR	0.0991	JPY to MVR	10.0921	MVR to JPY
JPY	NPR	0.8657	JPY to NPR	1.1552	NPR to JPY
JPY	NZD	0.0108	JPY to NZD	92.3623	NZD to JPY
JPY	PKR	1.8037	JPY to PKR	0.5544	PKR to JPY
JPY	PGK	0.0251	JPY to PGK	39.9	PGK to JPY
JPY	PHP	0.3719	JPY to PHP	2.6891	PHP to JPY
JPY	SCR	0.0895	JPY to SCR	11.177	SCR to JPY
JPY	SGD	0.0088	JPY to SGD	113.845	SGD to JPY
JPY	KRW	8.8347	JPY to KRW	0.1132	KRW to JPY
JPY	LKR	1.9272	JPY to LKR	0.5189	LKR to JPY
JPY	TWD	0.21	JPY to TWD	4.7614	TWD to JPY
JPY	THB	0.2387	JPY to THB	4.1889	THB to JPY

					Updated: 2024-05-06
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	409.0469	BHD to JPY
JPY	EGP	0.3114	JPY to EGP	3.2114	EGP to JPY
JPY	HKD	0.0508	JPY to HKD	19.6938	HKD to JPY
JPY	ILS	0.0241	JPY to ILS	41.414	ILS to JPY
JPY	JOD	0.0046	JPY to JOD	217.1702	JOD to JPY
JPY	KWD	0.002	JPY to KWD	500.7246	KWD to JPY
JPY	LBP	580.6011	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	400.0407	OMR to JPY
JPY	QAR	0.0237	JPY to QAR	42.2707	QAR to JPY
JPY	SAR	0.0244	JPY to SAR	41.0469	SAR to JPY
JPY	AED	0.0239	JPY to AED	41.9036	AED to JPY
JPY	YER	1.626	JPY to YER	0.615	YER to JPY

					Updated: 2024-05-06
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.8741	JPY to DZD	1.1441	DZD to JPY
JPY	KES	0.8591	JPY to KES	1.164	KES to JPY
JPY	MUR	0.3002	JPY to MUR	3.331	MUR to JPY
JPY	MAD	0.0654	JPY to MAD	15.2915	MAD to JPY
JPY	NAD	0.1202	JPY to NAD	8.3199	NAD to JPY
JPY	NIO	0.2387	JPY to NIO	4.1892	NIO to JPY
JPY	NGN	9.054	JPY to NGN	0.1104	NGN to JPY
JPY	SLL	136.2467	JPY to SLL	0.0073	SLL to JPY
JPY	ZAR	0.1203	JPY to ZAR	8.3109	ZAR to JPY
JPY	TZS	16.8173	JPY to TZS	0.0595	TZS to JPY
JPY	TND	0.0203	JPY to TND	49.3281	TND to JPY
JPY	UGX	24.5219	JPY to UGX	0.0408	UGX to JPY
JPY	XOF	3.957	JPY to XOF	0.2527	XOF to JPY
JPY	ZMK	58.4612	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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