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.

East Caribbean Dollar

East Caribbean Dollar

The Eastern Caribbean dollar (symbol: $; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, and the exchange rate is US$1 = EC$2.70.

42 Japanese Yen to East Caribbean Dollar exchange rates chart

42 JPY to XCD exchange rates graph
42 JPY to XCD 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.

42 JPY to XCD exchange rates table

Exchange JPY to XCD
42 Japanese Yen = 1.038 East Caribbean Dollar
84 Japanese Yen = 2.076 East Caribbean Dollar
210 Japanese Yen = 5.190 East Caribbean Dollar
420 Japanese Yen = 10.379 East Caribbean Dollar
Exchange Japanese Yen to East Caribbean Dollar
42 Japanese Yen to East Caribbean 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.

42 JPY to XCD exchange rates news

'Sayonara tax': Japan to charge international visitors depature fee

Leaving Japan will get a little more expensive for travellers starting this week.

11 days conditional negative
NZ dollar firms as trade talks, FOMC support global outlook - sharechat.co.nz

The New Zealand dollar rose as minutes from the Federal Reserve’s last rate-setting meeting and the conclusion of US-China trade talks left investors more confident about the global growth outlook

12 days conditional positive
Scotia says it's committed to the region

Scotiabank has moved to address the unease throughout the region that has been triggered by moves to sell off some of its Eastern Caribbean operations while relocating so

3 days conditional neutral
Authorities seize $30M worth of cocaine in eastern Caribbean

SAINT THOMAS, U. S. Virgin Islands (CBS12) — U. S. Coast Guard and Caribbean Border Interagency Group (CBIG) crews seized $30 million worth of cocaine and apprehended three smugglers, officials say. It happened Tuesday morning in international waters off Puerto Rico and the U. S. Virgin Islands.

17 days indicative neutral
DIANE PHILLIPS: Oh, for a little respect while out shopping

IN every life, there comes a time when reality hits with a thud, like realising that you had the whole year to get ready for Christmas and suddenly it is here. And once again, though you promised last year and the year before that and probably the year before that it would never happen again, you blew the 8720 hours since the last time and you have 40 hours left to go before the big day.

25 days conditional negative

42 JPY to XCD currency converter