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Japanese Yen (JPY) Exchange Rates on 19th April 2024 (19/04/2024)

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Exchange rates for Japanese Yen (JPY)

					Updated: 2024-04-19
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	GBP	0.0052	JPY to GBP	191.5792	GBP to JPY
JPY	BGN	0.0119	JPY to BGN	83.9872	BGN to JPY
JPY	HRK	0.0459	JPY to HRK	21.7914	HRK to JPY
JPY	CZK	0.1541	JPY to CZK	6.4898	CZK to JPY
JPY	DKK	0.0455	JPY to DKK	21.9963	DKK to JPY
JPY	EEK	0	JPY to EEK	0	EEK to JPY
JPY	HUF	2.4114	JPY to HUF	0.4147	HUF to JPY
JPY	KZT	2.9085	JPY to KZT	0.3438	KZT to JPY
JPY	LVL	0.0039	JPY to LVL	255.0647	LVL to JPY
JPY	LTL	0	JPY to LTL	0	LTL to JPY
JPY	MKD	0.3754	JPY to MKD	2.6639	MKD to JPY
JPY	MDL	0.1164	JPY to MDL	8.5891	MDL to JPY
JPY	NOK	0.0717	JPY to NOK	13.9532	NOK to JPY
JPY	PLN	0.0265	JPY to PLN	37.6797	PLN to JPY
JPY	RON	0.0303	JPY to RON	32.9729	RON to JPY
JPY	RUB	0.6104	JPY to RUB	1.6382	RUB to JPY
JPY	SKK	0	JPY to SKK	0	SKK to JPY
JPY	SEK	0.0713	JPY to SEK	14.0261	SEK to JPY
JPY	CHF	0.0059	JPY to CHF	170.0025	CHF to JPY
JPY	TRY	0.2117	JPY to TRY	4.7236	TRY to JPY
JPY	UAH	0.2579	JPY to UAH	3.8781	UAH to JPY

					Updated: 2024-04-19
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	ARS	5.6561	JPY to ARS	0.1768	ARS to JPY
JPY	BOB	0.0451	JPY to BOB	22.1622	BOB to JPY
JPY	BRL	0.034	JPY to BRL	29.4173	BRL to JPY
JPY	CAD	0.0089	JPY to CAD	111.9433	CAD to JPY
JPY	KYD	0.0054	JPY to KYD	184.488	KYD to JPY
JPY	CLP	6.2623	JPY to CLP	0.1597	CLP to JPY
JPY	COP	25.4618	JPY to COP	0.0393	COP to JPY
JPY	CRC	3.2589	JPY to CRC	0.3069	CRC to JPY
JPY	DOP	0.3844	JPY to DOP	2.6016	DOP to JPY
JPY	SVC	0.0569	JPY to SVC	17.5719	SVC to JPY
JPY	FJD	0.0148	JPY to FJD	67.6513	FJD to JPY
JPY	HNL	0.1606	JPY to HNL	6.2275	HNL to JPY
JPY	JMD	1.0105	JPY to JMD	0.9896	JMD to JPY
JPY	MXN	0.1129	JPY to MXN	8.8536	MXN to JPY
JPY	ANG	0.0117	JPY to ANG	85.281	ANG to JPY
JPY	PYG	48.1243	JPY to PYG	0.0208	PYG to JPY
JPY	PEN	0.0244	JPY to PEN	41.0142	PEN to JPY
JPY	TTD	0.0441	JPY to TTD	22.6523	TTD to JPY
JPY	USD	0.0065	JPY to USD	154.2862	USD to JPY
JPY	UYU	0.2519	JPY to UYU	3.9705	UYU to JPY
JPY	VEF	23478.5765	JPY to VEF	0	VEF to JPY

					Updated: 2024-04-19
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	AUD	0.0101	JPY to AUD	98.5698	AUD to JPY
JPY	BDT	0.7141	JPY to BDT	1.4004	BDT to JPY
JPY	BND	0.0089	JPY to BND	112.9856	BND to JPY
JPY	CNY	0.0469	JPY to CNY	21.3108	CNY to JPY
JPY	INR	0.5413	JPY to INR	1.8475	INR to JPY
JPY	IDR	105.4133	JPY to IDR	0.0095	IDR to JPY
JPY	JPY	1	JPY to JPY	1	JPY to JPY
JPY	MYR	0.031	JPY to MYR	32.2642	MYR to JPY
JPY	MVR	0.1002	JPY to MVR	9.98	MVR to JPY
JPY	NPR	0.8693	JPY to NPR	1.1503	NPR to JPY
JPY	NZD	0.011	JPY to NZD	90.6777	NZD to JPY
JPY	PKR	1.8118	JPY to PKR	0.552	PKR to JPY
JPY	PGK	0.0247	JPY to PGK	40.4578	PGK to JPY
JPY	PHP	0.3729	JPY to PHP	2.6813	PHP to JPY
JPY	SCR	0.0929	JPY to SCR	10.7599	SCR to JPY
JPY	SGD	0.0088	JPY to SGD	113.1638	SGD to JPY
JPY	KRW	8.9752	JPY to KRW	0.1114	KRW to JPY
JPY	LKR	1.9594	JPY to LKR	0.5104	LKR to JPY
JPY	TWD	0.2108	JPY to TWD	4.7441	TWD to JPY
JPY	THB	0.2389	JPY to THB	4.1858	THB to JPY

					Updated: 2024-04-19
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	BHD	0.0025	JPY to BHD	407.7757	BHD to JPY
JPY	EGP	0.3149	JPY to EGP	3.1754	EGP to JPY
JPY	HKD	0.0508	JPY to HKD	19.7039	HKD to JPY
JPY	ILS	0.0246	JPY to ILS	40.6706	ILS to JPY
JPY	JOD	0.0046	JPY to JOD	217.6728	JOD to JPY
JPY	KWD	0.002	JPY to KWD	500.328	KWD to JPY
JPY	LBP	582.454	JPY to LBP	0.0017	LBP to JPY
JPY	OMR	0.0025	JPY to OMR	399.458	OMR to JPY
JPY	QAR	0.0236	JPY to QAR	42.3805	QAR to JPY
JPY	SAR	0.0243	JPY to SAR	41.1172	SAR to JPY
JPY	AED	0.0238	JPY to AED	41.9963	AED to JPY
JPY	YER	1.6223	JPY to YER	0.6164	YER to JPY

					Updated: 2024-04-19
Convert from	Convert to	1 JPY	Conversion	in currency	Conversion
JPY	DZD	0.874	JPY to DZD	1.1441	DZD to JPY
JPY	KES	0.862	JPY to KES	1.16	KES to JPY
JPY	MUR	0.3035	JPY to MUR	3.2946	MUR to JPY
JPY	MAD	0.0659	JPY to MAD	15.1747	MAD to JPY
JPY	NAD	0.1241	JPY to NAD	8.0565	NAD to JPY
JPY	NIO	0.2394	JPY to NIO	4.1776	NIO to JPY
JPY	NGN	7.4607	JPY to NGN	0.134	NGN to JPY
JPY	SLL	135.9128	JPY to SLL	0.0074	SLL to JPY
JPY	ZAR	0.1247	JPY to ZAR	8.0179	ZAR to JPY
JPY	TZS	16.7416	JPY to TZS	0.0597	TZS to JPY
JPY	TND	0.0204	JPY to TND	49.0654	TND to JPY
JPY	UGX	24.778	JPY to UGX	0.0404	UGX to JPY
JPY	XOF	3.9964	JPY to XOF	0.2502	XOF to JPY
JPY	ZMK	58.341	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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