Japanese Yen (JPY)
The yen is the third most traded currency and has long been used as a funding currency for carry trades. The Bank of Japan sets policy, and Japan is the world's largest net creditor.
The latest available mid-market reference is 1 JPY = 0.006269 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the Japanese Yen
The yen is a major reserve currency and the currency of the world's largest net creditor. Low Japanese interest rates have made it the main funding currency for carry trades, which ties the yen to global risk appetite.
A short history
The yen was introduced in 1871 and reformed after the Second World War. The 1985 Plaza Accord drove a sharp appreciation that shaped Japan's later stagnation.
What moves the Japanese Yen
Bank of Japan policy and the gap between Japanese and US bond yields. Global risk sentiment matters too: the yen tends to gain when investors unwind risky positions and to weaken when carry trades are built.
Live JPY exchange rate
| Currency | 1 JPY equals |
|---|---|
| US Dollar (USD) | 0.006269 |
| Euro (EUR) | 0.005641 |
| British Pound (GBP) | 0.004717 |
| Chinese Yuan (CNY) | 0.041914 |
| Indian Rupee (INR) | 0.5884 |
| Canadian Dollar (CAD) | 0.008927 |
| Australian Dollar (AUD) | 0.009149 |
| Swiss Franc (CHF) | 0.005215 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
JPY conversion pages
Guides for Japanese Yen
Other currency profiles
Japanese Yen questions
What is the Japanese Yen?
Japanese Yen (JPY) is used in the following countries and territories: Japan. Central bank: Bank of Japan. Exchange rate regime: free float.
Which countries use the Japanese Yen?
The Japanese Yen is used in the following countries and territories: Japan.
What affects the Japanese Yen exchange rate?
Bank of Japan policy and the gap between Japanese and US bond yields. Global risk sentiment matters too: the yen tends to gain when investors unwind risky positions and to weaken when carry trades are built.