AUD to JPY- Currency Exchange Blogpost
Japan is the coolest place to go to at the moment. With flights from Brisbane to Tokyo being incredibly cheap. It’s no wonder plenty of Aussies are flocking over to experience Japanese culture. So if you’re looking for cat cafés, Harajuku madness and beautiful temples, Japan is the place for you! The rate for AUD to JPY at the moment is great for travellers heading over, so you know you’ll get plenty of bang for your buck. Here at Value Currency Exchange, we’re currently buying JPY for 84.244 and selling for 81.119.
cash is so widely used and accepted
Don’t let Tokyo’s neon lights and futuristic charm fool you. In terms of currency, Japan likes to kick it old school by primarily using cash over card, with many places not having card transaction capabilities. So if you’re planning a visit to a local favourite ramen bar, or even a trip to a local onsen, make sure you’re not caught out and you have cash on hand. Unlike Australia, most shops won’t be concerned about receiving larger notes for small amounts because cash is so widely using and accepting. It’s also an excuse to use some of the seriously cool vending machines, where you can get anything from hot coffee to clothing, 24 hours a day.
The Polite Society
We know Japan as an incredibly polite society. Whether it’s about taking off your shoes when entering someone’s home or bowing when you greet someone. There are a lot of things to get accustomed to. To make sure you don’t offend anyone. This also applies to how you use your money while you’re there. In Japan, it is seen as rude to pass money from hand to hand. Instead, when you’re visiting somewhere to purchase something, there will be a small tray provided. Instead of handing your money to the cashier, whether it’s in cash or on card, place it on the tray. Your change will also be placing here after the transaction is completed.
Good time for AUD to JPY
So if you’re planning on exchanging your cash before you leave Australia, you probably want to know a little bit more about how the Japanese Yen works. The Yen comes in both notes and coins. The most common notes in circulation are 10,000, 5,000 and 1,000, while the coins come in denominations of 500, 100, 50, 10 and 5. Similarly to Australia, you can think of your coins as your loose change that you can use in vending machines. On buses and for small park entry fees. While your notes will be for bigger expenses such as eating out, topping up your Suica card and visiting theme parks.
The Japanese Yen is listing as one of the eight most tradable currencies in the world. Making it an attractive currency for international investors and businesses. We know it as a ‘hard currency’. It means it is seen as stable, reliable and not likely to suddenly depreciate or appreciate. This is another reason for Japan to be a popular destination for travellers. You know you’re likely to get a relatively consistent exchange rate no matter when you visit. However, when it comes to foreign currency exchange, anything can happen.
The Japanese Yen has been fluctuating quite a bit in the last ten years. It having reached as low as 55.11 in October 2008. However, 2013 saw a boom as the Yen reached up to 105.47, sending your dollar way further than it had for a long time. So when is the ideal time to exchange your AUD to JPY to ensure you’re getting the best rate? According to The Economy Forecast Agency, they predict Japanese Yen to consistently decline over the coming months until as late as September 2019.
AUD to JPY
According to Currency Strategist Michael Boutros on March 8th 2018, “AUD/JPY opened the week just above a key support pivot with a rebound in price taking the pair back towards downtrend resistance. The focus is on a break of a near-term range as we look for evidence that a larger recovery may be underway within the context of the broader downtrend”.
continue to decrease in value
However, The Economy Forecast Agency shows that the Japanese Yen will continue to decrease in value throughout this year and the majority of next. So the real question is, is the Japanese Yen going to resist the decline. Or will it continue to fall, similarly to its 2008 downfall? Experts from all over seem confused by the current fluctuations. Alluding that the AUD to JPY conversion could go either way at this point in time.
Exchange your AUD to JPY now!
So what does that mean for people planning on a trip to Japan in the coming months? Exchange your AUD to JPY now! You will get a better rate if you exchange your Australian dollars to Yen while you’re still in the country. As Travellers’ Cheques and many International ATMs in Japan have hefty fees. As Japan also often works as a cash-based society. It’s important to ensure you have cash on hand from when you land.
the lowest rate At Value Currency Exchange
At Value Currency Exchange, conveniently located in the Brisbane CBD, we are incredibly competitive and offer the lowest rate. If you’re planning a stress-free trip to Japan, let us help you with our Best Rate Guarantee! We are open 10am – 6pm Monday – Friday, and 10am – 2pm Saturday – Sunday. You will find us at 7/117 Queen Street in Brisbane City, conveniently located next to the Myer Centre.