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Japanese Yen (JPY) Exchange Rates on 17th May 2024 (17/05/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-05-17
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	195.3953	GBP to JPY
JPY	BGN	0.0117	JPY to BGN	85.6903	BGN to JPY
JPY	HRK	0.0453	JPY to HRK	22.0566	HRK to JPY
JPY	CZK	0.1475	JPY to CZK	6.7792	CZK to JPY
JPY	DKK	0.0445	JPY to DKK	22.4665	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.3016	JPY to HUF	0.4345	HUF to JPY
JPY	KZT	2.8527	JPY to KZT	0.3505	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	254.5157	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3672	JPY to MKD	2.7233	MKD to JPY
JPY	MDL	0.1141	JPY to MDL	8.7633	MDL to JPY
JPY	NOK	0.0692	JPY to NOK	14.4457	NOK to JPY
JPY	PLN	0.0254	JPY to PLN	39.3317	PLN to JPY
JPY	RON	0.0297	JPY to RON	33.6962	RON to JPY
JPY	RUB	0.5895	JPY to RUB	1.6965	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0691	JPY to SEK	14.4623	SEK to JPY
JPY	CHF	0.0058	JPY to CHF	171.0035	CHF to JPY
JPY	TRY	0.2093	JPY to TRY	4.7786	TRY to JPY
JPY	UAH	0.2555	JPY to UAH	3.9138	UAH to JPY

					Updated: 2024-05-17
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	5.7533	JPY to ARS	0.1738	ARS to JPY
JPY	BOB	0.0446	JPY to BOB	22.4215	BOB to JPY
JPY	BRL	0.0334	JPY to BRL	29.9825	BRL to JPY
JPY	CAD	0.0088	JPY to CAD	113.186	CAD to JPY
JPY	KYD	0.0054	JPY to KYD	185.9142	KYD to JPY
JPY	CLP	5.8803	JPY to CLP	0.1701	CLP to JPY
JPY	COP	24.8389	JPY to COP	0.0403	COP to JPY
JPY	CRC	3.3069	JPY to CRC	0.3024	CRC to JPY
JPY	DOP	0.377	JPY to DOP	2.6528	DOP to JPY
JPY	SVC	0.0565	JPY to SVC	17.7062	SVC to JPY
JPY	FJD	0.0145	JPY to FJD	69.0936	FJD to JPY
JPY	HNL	0.1595	JPY to HNL	6.2684	HNL to JPY
JPY	JMD	1.0063	JPY to JMD	0.9938	JMD to JPY
JPY	MXN	0.1084	JPY to MXN	9.2227	MXN to JPY
JPY	ANG	0.0116	JPY to ANG	85.9662	ANG to JPY
JPY	PYG	48.4339	JPY to PYG	0.0206	PYG to JPY
JPY	PEN	0.024	JPY to PEN	41.6451	PEN to JPY
JPY	TTD	0.0438	JPY to TTD	22.8274	TTD to JPY
JPY	USD	0.0065	JPY to USD	153.9542	USD to JPY
JPY	UYU	0.2488	JPY to UYU	4.02	UYU to JPY
JPY	VEF	23528.9762	JPY to VEF	0	VEF to JPY

					Updated: 2024-05-17
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0097	JPY to AUD	103.0107	AUD to JPY
JPY	BDT	0.7558	JPY to BDT	1.3231	BDT to JPY
JPY	BND	0.0087	JPY to BND	114.8266	BND to JPY
JPY	CNY	0.0469	JPY to CNY	21.3387	CNY to JPY
JPY	INR	0.5421	JPY to INR	1.8446	INR to JPY
JPY	IDR	103.5396	JPY to IDR	0.0097	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0304	JPY to MYR	32.8822	MYR to JPY
JPY	MVR	0.1004	JPY to MVR	9.9647	MVR to JPY
JPY	NPR	0.8602	JPY to NPR	1.1625	NPR to JPY
JPY	NZD	0.0106	JPY to NZD	94.3423	NZD to JPY
JPY	PKR	1.7959	JPY to PKR	0.5568	PKR to JPY
JPY	PGK	0.0251	JPY to PGK	39.9119	PGK to JPY
JPY	PHP	0.3724	JPY to PHP	2.6852	PHP to JPY
JPY	SCR	0.0889	JPY to SCR	11.2515	SCR to JPY
JPY	SGD	0.0087	JPY to SGD	114.671	SGD to JPY
JPY	KRW	8.7453	JPY to KRW	0.1143	KRW to JPY
JPY	LKR	1.9486	JPY to LKR	0.5132	LKR to JPY
JPY	TWD	0.2082	JPY to TWD	4.8035	TWD to JPY
JPY	THB	0.235	JPY to THB	4.2555	THB to JPY

					Updated: 2024-05-17
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	408.3949	BHD to JPY
JPY	EGP	0.3042	JPY to EGP	3.2876	EGP to JPY
JPY	HKD	0.0507	JPY to HKD	19.7265	HKD to JPY
JPY	ILS	0.0239	JPY to ILS	41.9215	ILS to JPY
JPY	JOD	0.0046	JPY to JOD	217.1728	JOD to JPY
JPY	KWD	0.002	JPY to KWD	501.1553	KWD to JPY
JPY	LBP	577.9783	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	399.9915	OMR to JPY
JPY	QAR	0.0237	JPY to QAR	42.2722	QAR to JPY
JPY	SAR	0.0244	JPY to SAR	41.0501	SAR to JPY
JPY	AED	0.0239	JPY to AED	41.9148	AED to JPY
JPY	YER	1.6229	JPY to YER	0.6162	YER to JPY

					Updated: 2024-05-17
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.873	JPY to DZD	1.1455	DZD to JPY
JPY	KES	0.8423	JPY to KES	1.1873	KES to JPY
JPY	MUR	0.2985	JPY to MUR	3.3504	MUR to JPY
JPY	MAD	0.0645	JPY to MAD	15.5053	MAD to JPY
JPY	NAD	0.1186	JPY to NAD	8.4314	NAD to JPY
JPY	NIO	0.2376	JPY to NIO	4.2084	NIO to JPY
JPY	NGN	9.8535	JPY to NGN	0.1015	NGN to JPY
JPY	SLL	136.2062	JPY to SLL	0.0073	SLL to JPY
JPY	ZAR	0.1188	JPY to ZAR	8.4192	ZAR to JPY
JPY	TZS	16.8232	JPY to TZS	0.0594	TZS to JPY
JPY	TND	0.0203	JPY to TND	49.2802	TND to JPY
JPY	UGX	24.2974	JPY to UGX	0.0412	UGX to JPY
JPY	XOF	3.9112	JPY to XOF	0.2557	XOF to JPY
JPY	ZMK	58.4668	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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