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.

Barbadian or Bajan Dollar

Barbadian or Bajan Dollar

The dollar has been the currency of Barbados since 1935. The present dollar has the ISO 4217 code BBD and is normally abbreviated with the dollar sign "$" or, alternatively, "Bds$" to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. On 22 October 2010 it was reported that the international rating agency Standard & Poor's (S&P) rated the currency of Barbados as "BBB-/A-3".

56 Japanese Yen to Barbadian or Bajan Dollar exchange rates chart

56 JPY to BBD exchange rates graph
56 JPY to BBD 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.

56 JPY to BBD exchange rates table

Exchange JPY to BBD
56 Japanese Yen = 1.032 Barbadian or Bajan Dollar
112 Japanese Yen = 2.065 Barbadian or Bajan Dollar
280 Japanese Yen = 5.162 Barbadian or Bajan Dollar
560 Japanese Yen = 10.325 Barbadian or Bajan Dollar
Exchange Japanese Yen to Barbadian or Bajan Dollar
56 Japanese Yen to Barbadian or Bajan 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.

56 JPY to BBD 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.

7 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

8 days conditional positive
Dollar Losing Ground As Year-End Approaches

WASHINGTON (Alliance News) - The dollar is pulling back against its major rivals Friday ...

20 days conditional positive
B'dos Gov't puts temporary freeze on borrowing

BRIDGETOWN, Barbados (CMC) — The Barbados Government has put a temporary freeze on ...

3 days indicative neutral
Scammers hitting church

More families are approaching the local arm of the Pentecostal Assemblies of the West Indies (PAWI) for welfare assistance. But so are crooks looking to make an easy dollar.

15 days indicative positive
Banks facing billion-dollar hit

The balance sheets of three of Canada’s leading commercial banks in Barbados may take a billion-dollar hit as a result of the suspension of loan payments to foreign lenders. The Canadian Imperial Bank of Commerce, Royal Bank of Canada and ScotiaBank were among the largest lenders to the Freundel Stuart Administration in the last decade.

16 days indicative neutral
Water tanks back in St Joseph

Members of corporate Barbados who contributed tanks to the Barbados Water Authority (BWA) turned up this morning for the recommital of the BWA's Community Water tanks at Horse Hill, St Joseph. This comes after Innotech removed tanks from communities across the island over non-payment of close to a million dollars in rent.

17 days conditional positive
Convicted Canadian’s Barbados plans denied

A Canadian convicted of selling millions of dollars in fake prescription drugs to Americans, a case that involved Barbados, is waging a legal battle to travel here. But United States District Judge Dana L. Christensen, concerned that Kristjan Thorkelson’s journeying to Barbados would disrupt the terms of his supervision, and impair the US Probation Office’s ability to monitor his “financial situation and activity”, has said no – twice.

17 days conditional negative

56 JPY to BBD currency converter