Japanese Yen

Japanese Yen

The yen (Japanese: 円, Hepburn: en, symbol: ¥; code: JPY; also abbreviated as JP¥) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling. The concept of the yen was a component of the Meiji government's modernization program of Japan's economy; which postulated the pursuit of a uniform currency throughout the country modeled after the European decimal currency system. Before the Meiji Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. The New Currency Act of 1871 did away with these and established the yen, which was defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, as the new decimal currency. The former han (fiefs) became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation the Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply.Following World War II the yen lost much of its prewar value. To stabilize the Japanese economy the exchange rate of the yen was fixed at ¥360 per $1 as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per $1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per $1 by 1980. Since 1973, the Japanese government has maintained a policy of currency intervention, and the yen is therefore under a "dirty float" regime. This intervention continues to this day. The Japanese government focuses on a competitive export market, and tries to ensure a low yen value through a trade surplus. The Plaza Accord of 1985 temporarily changed this situation from its average of ¥239 per US$1 in 1985 to ¥128 in 1988 and led to a peak value of ¥80 against the U.S. dollar in 1995, effectively increasing the value of Japan’s GDP to almost that of the United States. Since that time, however, the yen has greatly decreased in value. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has an extreme anti-inflation policy.

Bahamian Dollar

Bahamian Dollar

The dollar (sign: $; code: BSD) has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

113 Japanese Yen to Bahamian Dollar exchange rates chart

113 JPY to BSD exchange rates graph
113 JPY to BSD Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

113 JPY to BSD exchange rates table

Exchange JPY to BSD
113 Japanese Yen = 0.992 Bahamian Dollar
226 Japanese Yen = 1.984 Bahamian Dollar
565 Japanese Yen = 4.961 Bahamian Dollar
1130 Japanese Yen = 9.922 Bahamian Dollar
Exchange Japanese Yen to Bahamian Dollar
113 Japanese Yen to Bahamian Dollar Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

113 JPY to BSD exchange rates news

Dollar falls as Fed officials ring note of caution, pound bounces
Dollar falls as Fed officials ring note of caution, pound bounces

By Richard Leong NEW YORK (Reuters) - The dollar fell broadly on Friday in the wake of cautious comments from two U.S. Federal Reserve officials about global economic growth, while sterling rose fo...

conditional neutral
USD/JPY Weekly Price Forecast - US dollar falls against Japanese yen for the week

The US dollar fell significantly against the Japanese yen during the week, as we continue to struggle with the ¥114.50 level above. That’s an area that shows resistance all the way to the 115 young level, so it makes sense that we would struggle to break above there.

conditional positive
Corporate Japan's net profits to inch up 1% in sharp slowdown

TOKYO -- Japanese corporate profits are on course to rise 1% for another record in fiscal 2018, an estimate that is significantly lower than the 34% j

indicative neutral
FOREX-Euro, pound firm after draft Brexit deal; yen strengthens
FOREX-Euro, pound firm after draft Brexit deal; yen strengthens

*Euro, sterling supported by draft Brexit deal. *Fed rate view, economic growth seen supporting dollar. *Graphic: World FX rates in 2018.

conditional neutral
Here’s how much Brexit turmoil might whack the British pound, analysts predict
Here’s how much Brexit turmoil might whack the British pound, analysts predict

Amid a new flurry of resignations on Thursday, Prime Minister Theresa May and her Brexit plans are vulnerable, throwing the British pound into a spiral lower as uncertainty looms.

conditional negative
Out to Sea: Hurricanes? What hurricanes? Cruise ships love Caribbean
Out to Sea: Hurricanes? What hurricanes? Cruise ships love Caribbean

Anchors aweigh is exactly what’s happening as more ships are plying the clear blue waters of the Caribbean and Bahamas.Even with the three hits in two weeks last year from hurricanes, that part of the world retains its claim as one of the top cruise destinations.

indicative positive
Waste too 'entrenched' for govt NHI savings

The Government cannot finance National Health Insurance (NHI) from internal savings because waste and inefficiency is too “entrenched” in the public sector, a Cabinet minister has admitted.Dr Duane Sands, minister of health, told Tribune Business tha

conditional neutral
INSIGHT: We need a solution to our energy crisis now – not later

AMID what has been deemed an energy crisis by some, public outcry over the increasing electricity costs has become commonplace in our society. Similarly, the lackadaisical response from our elected leaders has been disheartening. Indubitably, Bahamas Power and Light has become our nation’s greatest failure.

conditional positive
‘Disney’s go-ahead shows we need plan’

ENVIRONMENTALISTS are calling for “better national planning” in terms of economic and environmental sustainability in the wake of the Minnis administration’s decision to approve Disney Cruise Line’s proposal for Lighthouse Point, South Eleuthera.

conditional neutral
FBI sting blows open visa scam

A two-year FBI sting operation into visa fraud in the Bahamas has uncovered an alleged bribery ring between senior Bahamas immigration officials and a purported justice of the peace for fraudulent long-term work permits.

indicative neutral

113 JPY to BSD currency converter