What compels you to take an international holiday trip? If you’re thinking of a trip to Japan, do check the on-going INR to JPY exchange rate. A competitive forex rate can elevate the joy of your overseas vacation. To get the best INR to JPY rate, trust only Thomas Cook.
Importance of the Japanese Yen
JPY is an abbreviation of the Japanese yen the official currency of Japan. The Japanese Yen is the world's most important currency. It is the 3rd most traded currency across the globe in the forex market after the US Dollar and the Euro. Similar to the US Dollar , Euro , and British Pound Sterling, the Japanese Yen is used as a reserve currency.
Introduction of the Japanese Yen
The Japanese Yen was introduced in the year 1871. The then Meiji Government adopted the yen by replacing the coinage of the Tokugawa Shogunate. The Japanese Yen is issued by the Bank of Japan which has the sole power over the issuance and circulation of the Japanese Yen currency. The value of the yen is pegged to the dollar in 1949 but after the collapse of the Bretton Woods system, the Japanese yen was in the year 1973.
The Japanese Yen is issued in the following denominations:
1. Coins worth 1 yen, 5 yen, 10 yen, 50 yen, 100 yen, and 500 yen are issued and are in circulation.
2. 1000 yen, 2000 yen, 5000 yen, and 10000 banknotes.
Factors that affect the exchange of the Japanese Yen to INR
The exchange rate of foreign currency makes it easier for countries to trade among themselves. The currency exchange rate is very dynamic. There are numerous factors due to which the exchange rate fluctuates. Understanding the factors helps in understanding the trading of global currencies very well. Here are 4 important factors that affect currency exchange rates:
1. Inflation: Inflation refers to the purchasing power of one currency over another. A nation with a low inflation rate will have a strong currency.
2. Interest Rates: Interest Rates, Inflation, and Foreign Exchange rates are related to each other. All the central banks determine the interest rates of their respective countries which directly affects the inflation rates.
3. Political Stability and Economic Health: The Political and Economic environment of a country modulates the value of its currency. A stable political environment and healthy economic conditions in a country increase the value of its currency.
4. Balance of Trade: Balance of Trade refers to the difference between imports and exports of a country. A stronger balance of trade i.e., higher exports and lower imports will result in a stronger currency. While a negative balance of trade will devalue the currency exchange rate.
Convert Japanese Yen to INR Online as per Today's Conversion Rate
The currency exchange rate will help in converting the Japanese Yen to Indian Rupee . For example, Mr. Lee conducting business in Japan wants to send 10000 Japanese Yen to Mr. Malik his Indian partner. Let us understand how much money Mr. Malik will receive in India.
As of 19th April 2023, the Japanese Yen to Indian Rupee conversion rate is 1 JPY = 0.612
Therefore, 10000 Yen = 0.612*10000 = 6113.33 INR
Thus, we can see the Japanese Yen is weaker as compared to the Indian Rupee. Therefore, earning Indian Rupees is beneficial.
Convert Japanese Yen to INR
The conversion of Japanese yen to INR or vice versa is very simple. You can do it by yourself the only thing you need to know is the current currency exchange rate.
As of today the Yen to INR exchange rate is 1 JPY = 0.612 INR i.e., the value of 1 yen is 0.612 rupee. So 10 JPY = 6.12 INR
While, 1 INR = 1.64 Yen, meaning that the value of 1 INR is 1.64 Yen. Therefore, 10 INR = 16.35 Yen
How are Japanese Yen-INR Rates Determined?
The foreign exchange rates of the Japanese Yen and Indian Rupee are affected by macroeconomic factors like inflation, the balance of trade, current account deficit, etc. However, the central banks of the respective countries namely the Bank of Japan and The Reserve Bank of India are responsible to overlook and determine the currency exchange rate.
Japanese Yen and INR Overview
The Indian Rupee is stronger than the Japanese Yen. The following table explains the foreign exchange rate summary of the last 180 days dating from 21st Oct 2022 to 17th April 2023.
| Highest Conversion rate |
As on 01st Dec 2023, 0.67725 INR |
| Average Conversion rate |
For above stated 180 days 0.60774 INR |
| Lowest Conversion Rate |
As on 13rd July 2024,0.54 INR |
Why Japan?
The Yen is the official currency of Japan, a country located in East Asia. The Yen is believed to be the third most traded currency in the forex market and also the most heavily traded currency in the Asian markets.
Why Japan is becoming an increasingly interesting tourist destination? Japan’s economy is well-regarded in the world economy. However, Japan is more than just a strong economy. The island nation boasts impressive architecture, pop culture, and holy shrines. Whether you are a solo traveler or visiting Japan with your family, you will have something that will leave you stunned and urge you to extend your vacation.
However, if you don’t want to be kicked in your teeth, it is important to plan your itinerary in detail. Planning includes researching about the place, deciding the places you wish to visit, budget, time, stay, travel, and most importantly, forex.
Many do not consider forex while planning their abroad trip, however knowing the live INR to Yen can help you a realistic plan, while enabling you to find the total estimated cost of your Japan trip.
Why Thomas Cook?
Thomas Cook has now become a name synonymous for travel. We take pride in offering world-class travel solutions that enrich your traveling experience. From finding the best deals on hotels and flights to getting the best Yen to Rupee Exchange rate, we have got you covered! Want to know the current INR to JPY rate? Our 24x7 online currency converter tool provides you with real-time exchange rate, eliminating the complicated calculation of forex. You can also visit your nearest branch and speak to our forex expert to understand the benefits of buying foreign exchange from Thomas Cook.
What’s more, you can use our online currency converter even when you are in Japan and find out exactly how much you are spending. We understand that during an abroad trip, every penny counts and hence, our experts offer you the most competitive INR to Yen rates. You can now convert INR to JPY from the comfort of your home, as facilitate online buying and selling of forex . To do so, all you are required to do is visit the Thomas Cook website, enter the required details, and have your forex delivered at your doorstep. If you wish, you could collect your forex from our branch at your convenience. Buy forex at Thomas Cook and stay safe from fraudulent forex vendors and the hassle of finding a reliable forex partner in Japan.
Our years of commitment towards our customers has helped us become one of the world’s leading travel and forex partners. Travelers across the globe trust us for their travel needs. We empower you to plan your leisure or business trip, while we take care of your forex woes. If you still have questions regarding Rupee to Yen exchange rates or other forex concerns, then head to our blog section and benefit from our expert tips.
Want to convert Rupee to Yen? Visit Thomas Cook now and buy forex at the most competitive prices today.
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