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Complete history of Japanese Yen (JPY): Buy or Sell Japanese Yen at Best Exchange Rates in India

Explore the Japanese Yen’s rich history and stay updated with its current exchange value. Buy, sell, or transfer Japanese Yen at the best rates in India — with fast, secure doorstep delivery nationwide.

Buy Japanese Yen

Overview:

Japanese Yen is the third most traded currency in the foreign exchange market. Yen is denoted by symbol ¥  and code is JPY.  Japanese yen holds a strong position along with all other powerful currencies in the global market.

History of Japanese Yen:

The Japanese Yen was introduced by Meiji government in 1871 to unify Japan's fragmented monetary system which existed under shogunate.

During World War 2, Yen suffered devaluation and was pegged to US Dollar until 1973, when Bretton Wood system collapsed and Yen was allowed to have floating exchange rate. Then yen has grown to become one of most traded currencies in the world.

 Currency in circulation:

Notes Portrait Featured
¥10,000 Shibusawa Eiichi
¥5,000 Tsuda Umeko
¥2,000 Shurei-mon Gate
¥1,000 Kitasato Shibasaburo

Evaluation of Yen:

Yen as currency is influenced by various factors. Let us look at a few of them:

Economic Factors:  Japan’s inflation, economic growth, employment rates, etc. It signifies the growth of country and thus directly impacts the yen exchange rate.

Monetary Policy:  Bank of Japan’s market rate interventions and interest rate decisions have influenced the stability of Yen.

Who requires Japanese Yen and why is it necessary?

Carrying foreign currency in the form of cash or a Forex card is necessary for several reasons like:

* Travelers: Payment for accommodation and travel expenses having Japanese yen would help stay within budget and also to cover emergency medical expenses.

* Students: Students who stay in Japan can pay tuition fees for university or dorms or even for daily expenses yen is essential.

* For business transactions with local stores or vendor payments, mostly Japanese yen is preferred.

How to buy or sell Japanese Yen at affordable exchange rate in India?

Banks:When it comes to buying yen or selling Yen despite banks having numerous branches, however not all branches of banks have the facility to get your currency exchange done and most banks have a fixed exchange rate throughout the day and with less transparency in fees, making it a less favourable option.

RBI-Authorized Money Changers:RBI-Authorized money changers are often more accessible, quicker, hassle-free and less difficulty than banks.

Unlike Banks, Popular Money changer like Orient Exchange offers transparency in fees and service without requiring an account for you to buy or sell Japanese Yen in India, making it a favourable option.

What are the benefits of buying or selling Japanese Yen through Orient Exchange:

Best Exchange rates : Best exchange rate in India for Japanese yen and no hidden fees, Forex transactions become seamless and transparent.

User Friendly and Accessible: Orient Exchange is located in major cities and having 26 branches across India, thus providing a quick and convenient foreign currency exchange.

Customer Experience: With efficient well-trained customer support providing personalised support makes the experience of business smooth and with feature of live tracking of your order.

Reliability: Orient Exchange is an RBI-authorized Category 2 Dealer bound by rules made by RBI, thus making all your transactions safe and secure.

Why choosing Orient Exchange would be a smart choice to send money abroad?

What makes Orient Exchange easy to work with for send money abroad? 

  1. 24/7 online booking.
  2. Freeze Yen exchange rates for up to 2 days by paying 2% advance.
  3. Video KYC available.
  4. It provides student payment services like Convera, Flywire, PayMyTuition, etc.

Conclusion :

Japanese Yen remains one of the most desirable currencies in the world. Carrying Japanese yen before travelling to Japan helps to make payments at hotels/local stores and also helps to meet regulatory compliance before entering country. Orient exchange with unmatched service and affordable rates would be the best choice to get the very best exchange rates for Japanese Yen in India.

Opt Orient Exchange today for smart travel!.

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