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Japanese Yen (JPY) Exchange Rates on 27th April 2024 (27/04/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-04-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0051	JPY to GBP	197.4288	GBP to JPY
JPY	BGN	0.0116	JPY to BGN	86.5066	BGN to JPY
JPY	HRK	0.0448	JPY to HRK	22.3293	HRK to JPY
JPY	CZK	0.1486	JPY to CZK	6.7289	CZK to JPY
JPY	DKK	0.0441	JPY to DKK	22.6796	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.3249	JPY to HUF	0.4301	HUF to JPY
JPY	KZT	2.8073	JPY to KZT	0.3562	KZT to JPY
JPY	LVL	0.0038	JPY to LVL	261.3617	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3638	JPY to MKD	2.749	MKD to JPY
JPY	MDL	0.1127	JPY to MDL	8.8751	MDL to JPY
JPY	NOK	0.0698	JPY to NOK	14.3217	NOK to JPY
JPY	PLN	0.0255	JPY to PLN	39.1849	PLN to JPY
JPY	RON	0.0295	JPY to RON	33.9475	RON to JPY
JPY	RUB	0.5837	JPY to RUB	1.7132	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0689	JPY to SEK	14.5184	SEK to JPY
JPY	CHF	0.0058	JPY to CHF	172.8042	CHF to JPY
JPY	TRY	0.2056	JPY to TRY	4.8633	TRY to JPY
JPY	UAH	0.2511	JPY to UAH	3.9827	UAH to JPY

					Updated: 2024-04-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	5.5404	JPY to ARS	0.1805	ARS to JPY
JPY	BOB	0.044	JPY to BOB	22.74	BOB to JPY
JPY	BRL	0.0324	JPY to BRL	30.9002	BRL to JPY
JPY	CAD	0.0087	JPY to CAD	115.5625	CAD to JPY
JPY	KYD	0.0053	JPY to KYD	189.2455	KYD to JPY
JPY	CLP	6.0215	JPY to CLP	0.1661	CLP to JPY
JPY	COP	24.6479	JPY to COP	0.0406	COP to JPY
JPY	CRC	3.2219	JPY to CRC	0.3104	CRC to JPY
JPY	DOP	0.3717	JPY to DOP	2.6902	DOP to JPY
JPY	SVC	0.0555	JPY to SVC	18.0234	SVC to JPY
JPY	FJD	0.0143	JPY to FJD	69.8762	FJD to JPY
JPY	HNL	0.1566	JPY to HNL	6.3866	HNL to JPY
JPY	JMD	0.9899	JPY to JMD	1.0102	JMD to JPY
JPY	MXN	0.1085	JPY to MXN	9.2129	MXN to JPY
JPY	ANG	0.0114	JPY to ANG	87.5065	ANG to JPY
JPY	PYG	47.2145	JPY to PYG	0.0212	PYG to JPY
JPY	PEN	0.0238	JPY to PEN	41.9804	PEN to JPY
JPY	TTD	0.0431	JPY to TTD	23.2111	TTD to JPY
JPY	USD	0.0063	JPY to USD	158.095	USD to JPY
JPY	UYU	0.2443	JPY to UYU	4.0931	UYU to JPY
JPY	VEF	22915.2373	JPY to VEF	0	VEF to JPY

					Updated: 2024-04-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0097	JPY to AUD	103.2361	AUD to JPY
JPY	BDT	0.6959	JPY to BDT	1.4369	BDT to JPY
JPY	BND	0.0086	JPY to BND	115.8644	BND to JPY
JPY	CNY	0.0458	JPY to CNY	21.8179	CNY to JPY
JPY	INR	0.5275	JPY to INR	1.8956	INR to JPY
JPY	IDR	102.7311	JPY to IDR	0.0097	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.0302	JPY to MYR	33.161	MYR to JPY
JPY	MVR	0.0978	JPY to MVR	10.2258	MVR to JPY
JPY	NPR	0.8454	JPY to NPR	1.1829	NPR to JPY
JPY	NZD	0.0106	JPY to NZD	93.9008	NZD to JPY
JPY	PKR	1.7653	JPY to PKR	0.5665	PKR to JPY
JPY	PGK	0.0245	JPY to PGK	40.8562	PGK to JPY
JPY	PHP	0.3646	JPY to PHP	2.7429	PHP to JPY
JPY	SCR	0.0856	JPY to SCR	11.6804	SCR to JPY
JPY	SGD	0.0086	JPY to SGD	116.0241	SGD to JPY
JPY	KRW	8.7168	JPY to KRW	0.1147	KRW to JPY
JPY	LKR	1.8769	JPY to LKR	0.5328	LKR to JPY
JPY	TWD	0.2062	JPY to TWD	4.8491	TWD to JPY
JPY	THB	0.2341	JPY to THB	4.2711	THB to JPY

					Updated: 2024-04-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0024	JPY to BHD	419.7106	BHD to JPY
JPY	EGP	0.3027	JPY to EGP	3.3032	EGP to JPY
JPY	HKD	0.0495	JPY to HKD	20.1952	HKD to JPY
JPY	ILS	0.0242	JPY to ILS	41.3008	ILS to JPY
JPY	JOD	0.0045	JPY to JOD	223.0764	JOD to JPY
JPY	KWD	0.0019	JPY to KWD	513.1223	KWD to JPY
JPY	LBP	567.8284	JPY to LBP	0.0018	LBP to JPY
JPY	OMR	0.0024	JPY to OMR	411.0033	OMR to JPY
JPY	QAR	0.023	JPY to QAR	43.4255	QAR to JPY
JPY	SAR	0.0237	JPY to SAR	42.1525	SAR to JPY
JPY	AED	0.0232	JPY to AED	43.0436	AED to JPY
JPY	YER	1.5837	JPY to YER	0.6314	YER to JPY

					Updated: 2024-04-27
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.8487	JPY to DZD	1.1783	DZD to JPY
JPY	KES	0.8401	JPY to KES	1.1903	KES to JPY
JPY	MUR	0.2929	JPY to MUR	3.4137	MUR to JPY
JPY	MAD	0.0641	JPY to MAD	15.6126	MAD to JPY
JPY	NAD	0.1202	JPY to NAD	8.3163	NAD to JPY
JPY	NIO	0.2334	JPY to NIO	4.2853	NIO to JPY
JPY	NGN	8.2623	JPY to NGN	0.121	NGN to JPY
JPY	SLL	132.6386	JPY to SLL	0.0075	SLL to JPY
JPY	ZAR	0.1187	JPY to ZAR	8.4274	ZAR to JPY
JPY	TZS	16.4228	JPY to TZS	0.0609	TZS to JPY
JPY	TND	0.0199	JPY to TND	50.2202	TND to JPY
JPY	UGX	24.1865	JPY to UGX	0.0413	UGX to JPY
JPY	XOF	3.8771	JPY to XOF	0.2579	XOF to JPY
JPY	ZMK	56.9353	JPY to ZMK	0.0176	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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