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Japanese Yen (JPY) Exchange Rates on 19th March 2024 (19/03/2024)

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Exchange rates for Japanese Yen (JPY)

Updated: 2024-03-19
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY GBP GBP 0.0052 JPY to GBP 190.5169 GBP to JPY
JPY JPY BGN BGN 0.012 JPY to BGN 83.268 BGN to JPY
JPY JPY HRK HRK 0.046 JPY to HRK 21.7587 HRK to JPY
JPY JPY CZK CZK 0.155 JPY to CZK 6.4519 CZK to JPY
JPY JPY DKK DKK 0.0458 JPY to DKK 21.8374 DKK to JPY
JPY JPY EEK EEK 0 JPY to EEK 0 EEK to JPY
JPY JPY HUF HUF 2.4256 JPY to HUF 0.4123 HUF to JPY
JPY JPY KZT KZT 3.015 JPY to KZT 0.3317 KZT to JPY
JPY JPY LVL LVL 0.004 JPY to LVL 247.5693 LVL to JPY
JPY JPY LTL LTL 0 JPY to LTL 0 LTL to JPY
JPY JPY MKD MKD 0.3779 JPY to MKD 2.6462 MKD to JPY
JPY JPY MDL MDL 0.1185 JPY to MDL 8.4415 MDL to JPY
JPY JPY NOK NOK 0.0712 JPY to NOK 14.042 NOK to JPY
JPY JPY PLN PLN 0.0265 JPY to PLN 37.6694 PLN to JPY
JPY JPY RON RON 0.0305 JPY to RON 32.7564 RON to JPY
JPY JPY RUB RUB 0.6106 JPY to RUB 1.6379 RUB to JPY
JPY JPY SKK SKK 0 JPY to SKK 0 SKK to JPY
JPY JPY SEK SEK 0.0697 JPY to SEK 14.3546 SEK to JPY
JPY JPY CHF CHF 0.0059 JPY to CHF 168.6321 CHF to JPY
JPY JPY TRY TRY 0.2159 JPY to TRY 4.6307 TRY to JPY
JPY JPY UAH UAH 0.2612 JPY to UAH 3.8283 UAH to JPY
Updated: 2024-03-19
Convert from Convert to 1 JPY Conversion in currency Conversion
JPY JPY ARS ARS 5.6901 JPY to ARS 0.1757 ARS to JPY
JPY JPY BOB BOB 0.0463 JPY to BOB 21.6076 BOB to JPY
JPY JPY BRL BRL 0.0336 JPY to BRL 29.7737 BRL to JPY
JPY JPY CAD CAD 0.009 JPY to CAD 110.5777 CAD to JPY
JPY JPY KYD KYD 0.0056 JPY to KYD 179.1329 KYD to JPY
JPY JPY CLP CLP 6.3232 JPY to CLP 0.1581 CLP to JPY
JPY JPY COP COP 25.9738 JPY to COP 0.0385 COP to JPY
JPY JPY CRC CRC 3.4081 JPY to CRC 0.2934 CRC to JPY
JPY JPY DOP DOP 0.3962 JPY to DOP 2.5238 DOP to JPY
JPY JPY SVC SVC 0.0586 JPY to SVC 17.0608 SVC to JPY
JPY JPY FJD FJD 0.0151 JPY to FJD 66.0241 FJD to JPY
JPY JPY HNL HNL 0.1654 JPY to HNL 6.0453 HNL to JPY
JPY JPY JMD JMD 1.0326 JPY to JMD 0.9684 JMD to JPY
JPY JPY MXN MXN 0.1124 JPY to MXN 8.893 MXN to JPY
JPY JPY ANG ANG 0.0121 JPY to ANG 82.8506 ANG to JPY
JPY JPY PYG PYG 48.8515 JPY to PYG 0.0205 PYG to JPY
JPY JPY PEN PEN 0.0247 JPY to PEN 40.4935 PEN to JPY
JPY JPY TTD TTD 0.0454 JPY to TTD 22.0124 TTD to JPY
JPY JPY USD USD 0.0067 JPY to USD 149.7519 USD to JPY
JPY JPY UYU UYU 0.2573 JPY to UYU 3.8863 UYU to JPY
JPY JPY VEF VEF 24207.8017 JPY to VEF 0 VEF to JPY
Updated: 2024-03-19
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JPY JPY AUD AUD 0.0102 JPY to AUD 97.9258 AUD to JPY
JPY JPY BDT BDT 0.735 JPY to BDT 1.3605 BDT to JPY
JPY JPY BND BND 0.009 JPY to BND 111.6476 BND to JPY
JPY JPY CNY CNY 0.0481 JPY to CNY 20.8029 CNY to JPY
JPY JPY INR INR 0.5538 JPY to INR 1.8057 INR to JPY
JPY JPY IDR IDR 104.9068 JPY to IDR 0.0095 IDR to JPY
JPY JPY JPY JPY 1 JPY to JPY 1 JPY to JPY
JPY JPY MYR MYR 0.0316 JPY to MYR 31.6734 MYR to JPY
JPY JPY MVR MVR 0.1029 JPY to MVR 9.721 MVR to JPY
JPY JPY NPR NPR 0.8886 JPY to NPR 1.1254 NPR to JPY
JPY JPY NZD NZD 0.011 JPY to NZD 90.9004 NZD to JPY
JPY JPY PKR PKR 1.8732 JPY to PKR 0.5338 PKR to JPY
JPY JPY PGK PGK 0.0253 JPY to PGK 39.601 PGK to JPY
JPY JPY PHP PHP 0.3722 JPY to PHP 2.6869 PHP to JPY
JPY JPY SCR SCR 0.0905 JPY to SCR 11.0499 SCR to JPY
JPY JPY SGD SGD 0.0089 JPY to SGD 111.7475 SGD to JPY
JPY JPY KRW KRW 8.9336 JPY to KRW 0.1119 KRW to JPY
JPY JPY LKR LKR 2.0408 JPY to LKR 0.49 LKR to JPY
JPY JPY TWD TWD 0.2119 JPY to TWD 4.7196 TWD to JPY
JPY JPY THB THB 0.2404 JPY to THB 4.1604 THB to JPY
Updated: 2024-03-19
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JPY JPY BHD BHD 0.0025 JPY to BHD 397.4127 BHD to JPY
JPY JPY EGP EGP 0.3146 JPY to EGP 3.1789 EGP to JPY
JPY JPY HKD HKD 0.0522 JPY to HKD 19.1482 HKD to JPY
JPY JPY ILS ILS 0.0244 JPY to ILS 41.0037 ILS to JPY
JPY JPY JOD JOD 0.0047 JPY to JOD 211.2459 JOD to JPY
JPY JPY KWD KWD 0.0021 JPY to KWD 487.2668 KWD to JPY
JPY JPY LBP LBP 599.851 JPY to LBP 0.0017 LBP to JPY
JPY JPY OMR OMR 0.0026 JPY to OMR 389.0242 OMR to JPY
JPY JPY QAR QAR 0.0243 JPY to QAR 41.1322 QAR to JPY
JPY JPY SAR SAR 0.025 JPY to SAR 39.938 SAR to JPY
JPY JPY AED AED 0.0245 JPY to AED 40.7848 AED to JPY
JPY JPY YER YER 1.6718 JPY to YER 0.5982 YER to JPY
Updated: 2024-03-19
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JPY JPY DZD DZD 0.8977 JPY to DZD 1.114 DZD to JPY
JPY JPY KES KES 0.9076 JPY to KES 1.1018 KES to JPY
JPY JPY MUR MUR 0.307 JPY to MUR 3.2577 MUR to JPY
JPY JPY MAD MAD 0.0673 JPY to MAD 14.8559 MAD to JPY
JPY JPY NAD NAD 0.1267 JPY to NAD 7.8941 NAD to JPY
JPY JPY NIO NIO 0.2466 JPY to NIO 4.0558 NIO to JPY
JPY JPY NGN NGN 10.4521 JPY to NGN 0.0957 NGN to JPY
JPY JPY SLL SLL 150.866 JPY to SLL 0.0066 SLL to JPY
JPY JPY ZAR ZAR 0.1267 JPY to ZAR 7.8955 ZAR to JPY
JPY JPY TZS TZS 17.0415 JPY to TZS 0.0587 TZS to JPY
JPY JPY TND TND 0.0207 JPY to TND 48.2643 TND to JPY
JPY JPY UGX UGX 26.0263 JPY to UGX 0.0384 UGX to JPY
JPY JPY XOF XOF 4.0302 JPY to XOF 0.2481 XOF to JPY
JPY JPY ZMK ZMK 60.1074 JPY to ZMK 0.0166 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
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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