![]() ![]() But the yen is still considered undervalued compared to Japan’s economic fundamentals, which are around 100 to 110 yen. The response from the Bank of Japan (BoJ) also contributed to the appreciation, leading to the yen reaching 130 against the US dollar by early 2023. Partly due to a decline in long-term interest rates in the United States from November 2022, the exchange rate returned to below 140 yen. When it exceeded 145 yen against the US dollar by September 2022, and then 150 yen in October, the Ministry of Finance conducted two rounds of foreign exchange interventions. However, you’ll pay up to $30 for the privilege of overnight shipping.Japan’s exchange rate environment made a big turnaround in 2022 when the yen began to depreciate sharply. Currency Exchange International (CXI), for instance, advertises that it does not charge an exchange fee. However, be aware of inflated costs with some of these vendors.
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