What's The Best Japanese Yen Exchange Rate?

Get The Best Japanese Yen Exchange Rate?

Heading to Japan on your holidays or business?

Then make sure you get the best Pound to JPY rate!

We look at all your Japanese Yen exchange rate questions...

Where's best to buy Yen?

How do I get the best JPY deal?

How many Japanese Yen can you buy?

Should I buy my yen early or wait?

Which countries take Japanese Yen?

Leftover currency? How do I sell my Japanese Yen?

You probably spent ages looking for the perfect holiday, comparing hotels, flights and most importantly prices.

Make sure you don't throw all that money saving effort away by getting a poor deal on your travel money.

Getting the best deal on Japanese Yen can save you over £100 on the average holiday spends.

Where's best to buy Japanese Yen?

The golden rule is NEVER, EVER buy your yen at the airport.

Airport travel exchange kiosks know they've got you trapped, so they can and do charge ridiculous commissions and offer rubbish rates.

These are known as "Walk in exchange rate". They are usually they are between 10-15% lower than you can get if you buy elsewhere.

If you want to get the best Japanese Yen exchange rate, you should either use a fee free credit card, get a prepaid travel card or order your yen online and either collect them or have the delivered to your home or work.

The Post Office currency service offers a free click and collect service for yen. Simply order online and collect two hours later at your nearest Post Office® .

How do I get the best Japanese Yen deal?

To get the best Japanese Yen deal look for the highest exchange rate.

The Pound to Japanese Yen Rate GBP/JPY will tell you how many yen you get for each pound you exchange.

For example an exchange rate of 148.52 means you get 148 yen 52 sen for every Pound.

So the higher the exchange rate the more holiday money you'll have to spend.

Paying for your Japanese Yen

Make sure you pay for your Japanese Yen with your debit card and not your credit card. If you use your credit card you will be paying interest from day one of your exchange, even if you pay off your bill in full.

If you use your credit card at bureau de change it counts as a cash withdrawal, so there's a fee and interest even if you fully repay. This can easily wipe out any extra cash you've got by getting a good Japanese yen exchange rate deal.

So use cash or debit card if using a bureau.

If you are ordering from an online or postal provider, make sure you check their reviews. There’s no protection if the foreign exchange provider goes bust before you’ve received or collected your money.

How many Japanese Yen can you buy?

The maximum amount of Lira's you can buy depends on the provider.

Most exchanges will let you have a maximum amount on one transaction, and you will have to provide ID to meet money laundering rules.

The maximum amount usually is around £2500, but some will allow £15000.

When entering or leaving Japan, a customs declaration is required if you are carrying more than one million yen in cash, checks, travelers checks, securities etc.

Remember though, if you are travelling to Japan from the UK. You must declare to customs cash of €10,000 or more (or the equivalent in another currency) if you take it between the UK and any non- EU country.

If you do not want to take cash with you on holiday, you can take a prepaid travel card instead. You can then just upload money onto the card before you travel and use it to spend while you are away.

Should I buy my Japanese yen early or wait?

It's impossible to say. The pound is pretty low at the moment, hovering around ￥ 142

Will the pound go up against the Japanese yen in the next few months? No one really knows.

The best thing to do is to spread the risk, order half the money at the best JPY exchange rate you can find today. Then get the rest just before you travel.

At the moment the overall difference will be minimal.

Some exchange bureau's like Travelex , will let you book rates now, and collect from the airport up to 14 days later.

Then if you find a cheaper overall price on your travel money, they'll refund the difference.

Which countries take Japanese yen?

The yen 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.

Leftover currency? How do I sell my Japanese yen

If you didn't spend up at Duty Free or on the plane home, you may be wondering what you can do with the yen you didn't spend.

Well you can either keep it for next time you go away, donate it at one of the charity cash bins at the airport, or cash it in to get pounds back.

You can sell back your left over foreign currency at over 2500 Post Office® branches nationwide. They won't need to see an original receipt to buy back any of the currencies that they sell. To find your nearest branch use the Post Office branch finder and select 'Foreign currency' under Products and Services

The exchange rate you get at the bureau de change on buyback are usually not great.

A lot do special rates for you though if you bought it from them in the first place, so check before you convert your pounds to Turkish lira.

If you used a prepaid travel card you can either leave it on the card till next time or cards like WeSwap allow you to move it to another currency, including pounds.

Where can you find the best currency buy back rate?

You can look for the best high street currency buy back rates, many supermarkets and shopping centres have bureau de change, so you could check next time you're doing shopping.

Many online providers also offer a buy back service by post, which can often get you a better exchange rate.

• Last updated 26 September 2018

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