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.

Palladium Ounce

Palladium Ounce

Palladium is a chemical element with symbol Pd and atomic number 46. It is a rare and lustrous silvery-white metal discovered in 1803 by William Hyde Wollaston. He named it after the asteroid Pallas, which was itself named after the epithet of the Greek goddess Athena, acquired by her when she slew Pallas. Palladium, platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs). These have similar chemical properties, but palladium has the lowest melting point and is the least dense of them. More than half the supply of palladium and its congener platinum is used in catalytic converters, which convert as much as 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less noxious substances (nitrogen, carbon dioxide and water vapor). Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment, and jewelry. Palladium is a key component of fuel cells, which react hydrogen with oxygen to produce electricity, heat, and water. Ore deposits of palladium and other PGMs are rare. The most extensive deposits have been found in the norite belt of the Bushveld Igneous Complex covering the Transvaal Basin in South Africa; the Stillwater Complex in Montana, United States; the Sudbury Basin and Thunder Bay District of Ontario, Canada; and the Norilsk Complex in Russia. Recycling is also a source, mostly from scrapped catalytic converters. The numerous applications and limited supply sources result in considerable investment interest.

129048 Japanese Yen to Palladium Ounce exchange rates chart

129048 JPY to XPD exchange rates graph
129048 JPY to XPD 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.

129048 JPY to XPD exchange rates table

Exchange JPY to XPD
129048 Japanese Yen = 1.020 Palladium Ounce
258096 Japanese Yen = 2.040 Palladium Ounce
645240 Japanese Yen = 5.100 Palladium Ounce
1290480 Japanese Yen = 10.200 Palladium Ounce
Exchange Japanese Yen to Palladium Ounce
129048 Japanese Yen to Palladium Ounce 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.

129048 JPY to XPD 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
Gold ends higher for a third session and books a more than 1% weekly advance
Gold ends higher for a third session and books a more than 1% weekly advance

Gold futures end higher Friday for a third consecutive session to book a weekly advance of more than 1%, with geopolitical turmoil and broader equity market weakness helping to underpin prices.

conditional neutral
3 Reasons Why Precious Metals Streamers Are Better Investments Than Miners

Wheaton Precious Metals Corp. (USA) (NYSE:WPM) is an attractively valued play on gold and silver.

indicative positive
Gold climbs back above $1,200/oz as dollar rally pauses

* Silver touches lowest since Sept. 11; * GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl

indicative negative
Precious metal prices decrease in Azerbaijan
Precious metal prices decrease in Azerbaijan

Prices for precious metals decreased in Azerbaijan on Nov. 12, according to the data published by the country’s Central Bank.

indicative neutral

129048 JPY to XPD currency converter