Japanese Yen (JPY) Exchange Rates on 29th January 2020 (29/01/2020)

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Exchange rates for Japanese Yen (JPY)

Updated: 2020-01-29
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JPY GBP 0.007 JPY to GBP 142.0881 GBP to JPY
JPY BGN 0.0163 JPY to BGN 61.4382 BGN to JPY
JPY HRK 0.0619 JPY to HRK 16.1518 HRK to JPY
JPY CZK 0.2099 JPY to CZK 4.7637 CZK to JPY
JPY DKK 0.0622 JPY to DKK 16.0815 DKK to JPY
JPY HUF 2.813 JPY to HUF 0.3555 HUF to JPY
JPY KZT 3.4887 JPY to KZT 0.2866 KZT to JPY
JPY LVL 0.0055 JPY to LVL 180.3446 LVL to JPY
JPY LTL 0.0271 JPY to LTL 36.9449 LTL to JPY
JPY MKD 0.5117 JPY to MKD 1.9541 MKD to JPY
JPY MDL 0.161 JPY to MDL 6.2101 MDL to JPY
JPY NOK 0.0835 JPY to NOK 11.9713 NOK to JPY
JPY PLN 0.0355 JPY to PLN 28.1377 PLN to JPY
JPY RON 0.0398 JPY to RON 25.1519 RON to JPY
JPY RUB 0.5709 JPY to RUB 1.7516 RUB to JPY
JPY SEK 0.088 JPY to SEK 11.3576 SEK to JPY
JPY CHF 0.0089 JPY to CHF 112.0445 CHF to JPY
JPY TRY 0.0545 JPY to TRY 18.3509 TRY to JPY
JPY UAH 0.2267 JPY to UAH 4.4108 UAH to JPY
Updated: 2020-01-29
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JPY ARS 0.5509 JPY to ARS 1.8151 ARS to JPY
JPY BOB 0.0634 JPY to BOB 15.7839 BOB to JPY
JPY BRL 0.0385 JPY to BRL 26.0052 BRL to JPY
JPY CAD 0.0121 JPY to CAD 82.8902 CAD to JPY
JPY KYD 0.0076 JPY to KYD 130.9674 KYD to JPY
JPY CLP 7.2189 JPY to CLP 0.1385 CLP to JPY
JPY COP 31.0436 JPY to COP 0.0322 COP to JPY
JPY CRC 5.1812 JPY to CRC 0.193 CRC to JPY
JPY DOP 0.4873 JPY to DOP 2.052 DOP to JPY
JPY SVC 0.0802 JPY to SVC 12.4728 SVC to JPY
JPY FJD 0.02 JPY to FJD 49.9604 FJD to JPY
JPY HNL 0.2256 JPY to HNL 4.4318 HNL to JPY
JPY JMD 1.2774 JPY to JMD 0.7829 JMD to JPY
JPY MXN 0.1715 JPY to MXN 5.8307 MXN to JPY
JPY ANG 0.0151 JPY to ANG 66.3481 ANG to JPY
JPY PYG 59.7426 JPY to PYG 0.0167 PYG to JPY
JPY PEN 0.0305 JPY to PEN 32.7564 PEN to JPY
JPY TTD 0.062 JPY to TTD 16.1418 TTD to JPY
JPY USD 0.0092 JPY to USD 109.0886 USD to JPY
JPY UYU 0.341 JPY to UYU 2.9329 UYU to JPY
JPY VEF 0.0916 JPY to VEF 10.9225 VEF to JPY
Updated: 2020-01-29
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JPY AUD 0.0135 JPY to AUD 73.8318 AUD to JPY
JPY BDT 0.7768 JPY to BDT 1.2874 BDT to JPY
JPY BND 0.0124 JPY to BND 80.3263 BND to JPY
JPY CNY 0.0636 JPY to CNY 15.7261 CNY to JPY
JPY INR 0.6528 JPY to INR 1.5319 INR to JPY
JPY IDR 124.9142 JPY to IDR 0.008 IDR to JPY
JPY MYR 0.0374 JPY to MYR 26.7341 MYR to JPY
JPY MVR 0.1416 JPY to MVR 7.0607 MVR to JPY
JPY NPR 1.0454 JPY to NPR 0.9566 NPR to JPY
JPY NZD 0.014 JPY to NZD 71.2786 NZD to JPY
JPY PKR 1.4167 JPY to PKR 0.7059 PKR to JPY
JPY PGK 0.0312 JPY to PGK 32.0069 PGK to JPY
JPY PHP 0.466 JPY to PHP 2.146 PHP to JPY
JPY SCR 0.1256 JPY to SCR 7.9626 SCR to JPY
JPY SGD 0.0124 JPY to SGD 80.331 SGD to JPY
JPY KRW 10.7929 JPY to KRW 0.0927 KRW to JPY
JPY LKR 1.6629 JPY to LKR 0.6014 LKR to JPY
JPY TWD 0.2758 JPY to TWD 3.6259 TWD to JPY
JPY THB 0.2836 JPY to THB 3.5261 THB to JPY
Updated: 2020-01-29
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JPY BHD 0.0035 JPY to BHD 289.3489 BHD to JPY
JPY EGP 0.1448 JPY to EGP 6.9047 EGP to JPY
JPY HKD 0.0713 JPY to HKD 14.0317 HKD to JPY
JPY ILS 0.0317 JPY to ILS 31.5828 ILS to JPY
JPY JOD 0.0065 JPY to JOD 153.8198 JOD to JPY
JPY KWD 0.0028 JPY to KWD 358.9741 KWD to JPY
JPY LBP 13.8529 JPY to LBP 0.0722 LBP to JPY
JPY OMR 0.0035 JPY to OMR 283.3457 OMR to JPY
JPY QAR 0.0334 JPY to QAR 29.9611 QAR to JPY
JPY SAR 0.0344 JPY to SAR 29.0743 SAR to JPY
JPY AED 0.0337 JPY to AED 29.6999 AED to JPY
JPY YER 2.2945 JPY to YER 0.4358 YER to JPY
Updated: 2020-01-29
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JPY DZD 1.1013 JPY to DZD 0.908 DZD to JPY
JPY KES 0.9245 JPY to KES 1.0817 KES to JPY
JPY MUR 0.3378 JPY to MUR 2.9605 MUR to JPY
JPY MAD 0.0885 JPY to MAD 11.3039 MAD to JPY
JPY NAD 0.1332 JPY to NAD 7.508 NAD to JPY
JPY NIO 0.3091 JPY to NIO 3.2353 NIO to JPY
JPY NGN 3.323 JPY to NGN 0.3009 NGN to JPY
JPY SLL 88.9187 JPY to SLL 0.0112 SLL to JPY
JPY ZAR 0.1331 JPY to ZAR 7.5104 ZAR to JPY
JPY TZS 21.1341 JPY to TZS 0.0473 TZS to JPY
JPY TND 0.026 JPY to TND 38.5302 TND to JPY
JPY UGX 33.6978 JPY to UGX 0.0297 UGX to JPY
JPY XOF 5.4583 JPY to XOF 0.1832 XOF to JPY
JPY ZMK 82.5128 JPY to ZMK 0.0121 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
XE.com Live Currency Converter for JPY

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