Japanese Yen_flag

Japanese Yen

The Japanese Yen is the official currency of Japan. Its currency code is JPY, and its symbol is ¥. The Bank of Japan, the country's central bank, is responsible for issuing and regulating the Japanese Yen.

Convertible:Yes

Transferable:Yes

Exchange rate regime:Floating

Did you know?

Japan's Monetary Policy

check

The main objective of Japan's monetary policy, as implemented by the Bank of Japan, is to achieve price stability, thereby contributing to the sound development of the national economy.

check

For many years, Japan has been grappling with deflation, or falling prices, which can dampen economic growth. The Bank of Japan introduced a policy of "Quantitative and Qualitative Monetary Easing with Yield Curve Control" in 2016, aiming to achieve an inflation target of 2%.

check

The Japanese Yen is divided into 100 sen, although no longer in circulation. Coins come in denominations of 1, 5, 10, 50, 100, and 500 yen. Banknotes are issued in denominations of 1,000, 2,000, 5,000, and 10,000 yen.

check

Japanese yen banknotes and coins feature a variety of designs, including notable figures from Japanese culture and history. For instance, the 10,000 yen note carries a portrait of Yukichi Fukuzawa, a famous Japanese educator and writer.

check

Financial experts regard the Japanese Yen as a significant global reserve currency. It's considered a "safe-haven" currency, meaning that investors and traders may flock to the yen in times of global economic uncertainty or crisis due to Japan's stability and economic strength.

check

The Bank of Japan is responsible for regulating the Japanese Yen, including the issuance of new notes and coins, setting monetary policy, and overseeing the country's financial system to ensure stability. The Financial Services Agency (FSA) maintains Japan's financial stability by overseeing the banking, securities, exchange, and insurance sectors.

background graphic

Important information

Payments in JPY to Japan

Key considerations to bear in mind

check

Payment instructions should contain the beneficiary's IBAN, name, and address.

check

Payment Processing Time

The time taken for a payment to reach the recipient's bank account can vary. Domestic transfers within Japan are typically processed quickly, while international transfers may take a few business days. Consider the processing time when planning your payment to ensure timely delivery. The iBanFirst Payment Tracker can help you track those payments, and ensure a smooth and efficient payment experience.

check

Fees and Charges

Banks and financial institutions may apply fees and charges when processing international payments. These fees can vary, so it is advisable to check with your bank to understand the charges associated with your transaction. Check out iBanFirst’s Savings Calculator to estimate how much you could save on your next international payment.

Keep in mind

Bank holidays

01

January

New Year's Day

11

February

Foundation Day

23

February

Emperor's Birthday

29

April

Shōwa Day

03

May

Constitution Memorial Day

04

May

Greenery Day

05

May

Children's Day

11

August

Mountain Day

03

November

Culture Day

23

November

Thanksgiving Day

Coming of Age Day

Second Monday in January

Spring Equinox Day

Around 20 March

Marine Day

Third Monday in July

Respect for the Elderly Day

Third Monday in September

Autumn Equinox Day

Around 23 September

Health and Sport Day

Second Monday in October

people-to-people
people-to-people

Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts.

iBanFirst S.A. is duly authorised and regulated by the National Bank of Belgium (under CBE number 0849.872.824) as a payment institution. It is a direct member of the SWIFT network and is certified to make payments throughout the SEPA zone. As a payment institution, iBanFirst S.A. only offers hedging solutions (forward, flexible forward and dynamic forward) connected to underlying payment transactions. iBanFirst S.A. does not offer options or any other financial instruments for investment or speculative purposes.