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.

CFP Franc

CFP Franc

The CFP franc (called the franc in everyday use) is the currency used in the French overseas collectivities (collectivités d’outre-mer, or COM) of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique (“French colonies of the Pacific”). This was later changed to Communauté Financière du Pacifique (“Pacific Financial Community”) and then to the present term, Change Franc Pacifique (“Pacific Franc Exchange”). The ISO 4217 currency code is XPF.

1 Japanese Yen to CFP Franc exchange rates chart

1 JPY to XPF exchange rates graph
1 JPY to XPF 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.

1 JPY to XPF exchange rates table

Exchange JPY to XPF
1 Japanese Yen = 0.928 CFP Franc
2 Japanese Yen = 1.855 CFP Franc
5 Japanese Yen = 4.638 CFP Franc
10 Japanese Yen = 9.277 CFP Franc
Exchange Japanese Yen to CFP Franc
1 Japanese Yen to CFP Franc 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.

1 JPY to XPF exchange rates news

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imperative negative
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conditional neutral
Japan provides 510mn Yen to assist Pakistan’s efforts for polio eradication
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subjunctive positive
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indicative positive
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indicative neutral
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indicative positive

1 JPY to XPF currency converter