Political anxiety weighed heavily on the pound yesterday as Theresa May agreed to set a departure date after MPs vote on her withdrawal agreement for the fourth time.
Stay up-to-date with the latest EUR/JPY exchange rate movements
Are you planning a move to Japan, or already living there? Or do you need to transfer funds to friends or family living in the nation? Whatever the reason for your international money transfer, you’ll need to use the EUR/JPY exchange rate to convert your euros into Japanese yen.
EUR/JPY exchange rate facts
When the global financial crisis struck, the euro lost much of its strength against the Japanese yen and (despite some strong periods of recovery) the EUR/JPY exchange rate still remains much lower than it was at the beginning of 2008.
- The EUR/JPY exchange rate reached a high of ¥169.57 just before the financial crisis broke – its best levels for the past 10 years.
- EUR/JPY recorded a low of ¥94.29 in July 2012 as the sovereign debt crisis worsened and the economies of Germany and France slid towards recession.
- The Japanese Yen is the world’s third most-traded currency.
Euro and Japanese yen currency information
As the euro is the legal tender of nineteen separate nations – who together make up the Eurozone – it is often referred to as the ‘common currency’ or the ‘single currency’.
The Japanese yen comes in coins of ¥500, ¥100, ¥50, ¥10, ¥5 and ¥1. The ¥5 and ¥1 coins are quite rare in terms of their design, as they are one of few coins across the globe to feature a hole in the middle. Paper money comes in denominations of ¥10,000, ¥5,000, ¥2,000 and ¥1,000. All coins and bills (with the exception of the ¥5 yen coin) have their values written on them in Arabic numerals.
Factors influencing EUR/JPY exchange rate movement
While the euro is considered something of a ‘safe-haven’, it’s unappealing compared to the security offered to investors by the Japanese yen. This means that in times of global uncertainty the yen will typically strengthen and EUR/JPY exchange rates are likely to weaken, leaving you with less yen for your euros. When things are calmer and safer currencies are less in demand, the euro is likely to perform more strongly against the Japanese yen, getting you more JPY for every EUR transferred.
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