💴📉 Should you be Worried if the Japanese Yen Exchange Rate Goes Down?
Recently the exchange rate for Japanese Yen dropped slightly – what does this mean for your Japan trip, and is it a big problem?
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Recently we’ve seen the best exchange rates in decades for Japanese Yen, compared to the pound and dollar. However, the rate just started to drop slightly. In the video I explain why this isn’t a reason to panic, because for many countries, including the UK and USA, things in Japan are cheaper anyway, especially food, restaurants and trains. Also, some tips on when to get cash for your Japan trip to take advantage of the best rate.
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25 Comments
Get out of my brain 😂 I've been looking at this stuff for the past week 😂 I missed the 194 grrrr so Im keeping my eyes open haha.
Good video Amy, very informative. Wish I had a trip scheduled 🥲
Thanks so much for relieving my growing stress with the economy. Appreciate it❤
Love the hair 😀
My understanding with the new bank notes is that no all ticket and vending machines have been upgraded to accept the new notes, for example at restaurants and such. In that case you would probably do well to get the older bills rather than the new ones.
Also, have you considered releasing your japan guide as an e-book?
Booked my accommodation and trains before the peak, so hoping it recovers a little for the car rental. But it still looks like good value and food is still cheap! Ordered some yen at the mid-190 rate so I have some cash at least.
I do expect the yen to get better until summer of next year. All reports showing a crash in the second quarter again. I wish the Japanese people well, but this is what I do. I crunch numbers, I understand the market. So atleast for a while it will continue to get better for them
I dont think the rate will go any lower, since the Bank of Japan has said they will not raise interest rates again (which is what caused it) when "markets are unstable". Which is probably code word for, untill the US presidential elections are over
For a European the biggest cost for traveling to Japan is the airplane tickets anyway. As you say, at worst from what I remember 1 euro was about 100 yen, which still isn't bad at all. That 100 to 1 ratio was actually still the conversion I was using in my head to think about Japanese prices anyway even though 1 euro is 160 yen at the moment and has been for a while.
Got the book today, can't wait to read it all
Commented on a few of your vids before as I am also a Japan travel nut. I am a trader (not forex though) and a lot of this was caused by the Japanese carry trade. I wont bore you with the technicalities but basically the BoJ caused a wobble when they increased rates. This caused a ripple effect through markets at a time when most major economies are looking at rate cuts.. not rate rises… margin calls were made and that was that. Looking forward, the £/Yen is still very favourable for travellers from UK and I expect conditions to return to normal, if they have not already done so. This one off event was very much that, a one off rare event. The reality is most traders are now aware and priced in. This means future 10-15% intra day moves are unlikely in the near term. So what I am saying is, things are settling. If rates in Japan go up more (possible) we may end up back in the 160s. But even then I will gladly pay £1 for 160 yen. Given you can eat a decent meal for 1000 yen.. that would still be £6.25. Similar meal in the UK would be 3x that price. For those who got to travel during 200+ yen to the £…. enjoy it. Lastly, remember that this works both ways, a weak yen hurts the Japanese and it makes travel to Europe very, very expensive. That £20 meal for them thats 3x more expensive than at home… so imagine paying £60 for fish and chips with a beer…HTH.
Hi Amy, great to know. 100JPY has been down to 6.65NOK, and as of today the rate has risen to 7.34NOK. The difference is not that big, and as you say, everything is cheaper in Japan anyway. I've booked my flight and hotel room a while ago, so I will not be affected if the JPY rate goes up more. I always bring JPY notes back home, to have enough for at least the first day in Japan. That way I do not have to rely on finding an ATM that will accept my credit cards. I've had no problem withdrawing cash at Haneda though, but I feel more safe having cash at hand when I arrive 🙂The new notes looks cool.
Rude awakening for Japanophiles. Japan is a declining country slowly fading into irrelevancy. If you just want to be stuck in the last century, go live in Japan. If you want to make an a good career or business, look elsewhere.
Yeah, I noticed that the Yen has been improving over the past few months. I was in Japan in May. 1 Indian Rupee was like almost pretty close to 2 Yen. But currently an Indian rupee is like 1.74 yen. Nevertheless it was still expensive compared to India. I can afford my trip. That’s another story. But compared to India, Japan is more expensive
Great video! I was SO fortunate to be in Tokyo in the beginning of July and hit the high point and totally lucked out!
*$50K USD 🇺🇸 💵
I found Japan to be inexpensive even at 105JPY/USD when I was there in 2020. Btw, how's Kura in Japan vs USA? I go to the Kura Sushi in Orlando regularly, so I'm curious to try one in Japan when I'm there later this year!
I'll hold off until December/Janaury before exchanging!
My mother and I are leaving for my first trip ever to Japan in less than 2 weeks (it'll be her first time back since she was a little girl) and your videos have been invaluable. I admit I was a bit discouraged by the recent market changes with the USD tp JPY exchange but overall I don't think it'll affect us much if at all. Thanks for the quick update!
During my stay a few weeks ago it was averaging around 200 yen to the pound.
Unsure why people think Japan is cheap… Australia is expensive, and in terms of food, eating out in Japan is perhaps better, but not cheaper.
I reckon all 1st world countries cost about the same on average for a tourist at this point.
Ive been to Japan with the yen around 110 for $1 USD and last year when I was there it was around 140 yen for $1. (I go every year)
From a tourist standpoint it was nice to see the exchange rate for 1 USD increase all the way to 160+ yen.
The reason is $1 is worth A LOT less than $1 from even last year, at least here in Los Angeles. Inflation has made things MUCH more expensive in LA.
Hotel and airfare prices have also increased even from last year to this year. (Recently booked a hotel and airfare)
Factoring this into the equation, a trip to Japan is probably more expensive this year than last year even with then USD > Yen exchange rate staying around 160.
Exchange rate dropping to 140 essentially increases the prices much more.
Even when you factor in the great exchange rate comparing prices from last year to this year (or even 2019 for that matter) things are still much more expensive.
I do communicate with a lot of people in Japan and understand their point of view as well so in the regard, I am happy to see the yen gain strength.
Either way, ill continue to visit Japan every year.
Yes, even in Australia where our dollar is currently buying around 95 Yen, Japan is considerably cheaper. Looking ahead, as the Bank of Japan has signaled it will resist raising interest rates again, the Yen will return to a weakening state. The key is to watch each country’s interest rates… the expected differential movement usually indicates which way the rates will go.
I found the same – went just as Covid was ramping up and got hit with 100 yen = $1.5 AUD which stung but everything was still cheaper than Australia. That said, when it was parity on my last trip, it made things much more enjoyable (and meant I bought a LOT more)
Do you typically get yen in the UK before you land in Japan, or do you get cash (yen) when you're in the country? I was planning on getting money at Narita airport when I land there (in November) because it's really a pain in the neck to get foreign currency where I live (in a suburb of Chicago, USA).