The lowdown on the Japanese yen
Economical Influences and the Japanese Yen
In Japan, they pronounce it “en” in Japan, but we usually say “yen” in English – so you’ll be right either way. The yen, which means circle or round object, has been around since 1871.
The Japanese yen is known as one of the world’s hard currencies – that means it usually holds its value. People usually use cash in Japan, and that’s the only way you can pay in some places. That’s why it’s not unusual for people to carry a lot of cash around, also helped by the fact that Japan has one of the lowest crime rates in the world.
When it comes to coins, it’s much easier to tell what’s what than it is with some currencies – the one yen coin is made from aluminium, and it floats; the five and 50 yen coins have a hole in the middle, and the five yen coin is a shiny mix of zinc and copper that’s thought to be good luck. The 500 yen coin is one of the highest value coins around, so don’t confuse that one for small change.
Japanese Yen Historical Market Exchange Rate
The Japanese yen has strengthened quite significantly since 2015, performing particularly well in 2016 and 2018.1
At its weakest, the yen was trading at 1 NZD to approximately 93.70 JPY on 7th December 2014; fast forward to a year later and 1 NZ dollar was buying 74.77581 JPY on 6th September 2015.1
That figure continued to improve as the yen strengthened further and hits its strongest on 26th June 2016 with 1 New Zealand dollar getting you around 71.40 JPY.1
Fluctuating slightly by 14th December 2016, 1 NZD was equal to around 82.96 JPY. The yen then strengthened and by the 17th April 2017 1 New Zealand dollar was equal to approximately 75.97 JPY.1
In 2018, the yen hit its weakest to date on the 23rd January with 1 NZ dollar buying 81.21461; with the strongest rate occurring on 11th October when 1 NZ dollar would’ve bought you only 72.40695 yen in comparison.1
Learn more about the JPY before you travel to Japan and create a currency rate alert so we can notify you when it hits the rate you want.
Exchange rates last updated Sunday, 03 December 2023 3:55:26 AM NZDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
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*Data correct as of 6 November 2018.
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.