JPY - Japanese Yen
Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating

Type of transactions

FX Spot FX Forward
Delivery date: T+1; T+2 Maximum maturity: 12 months
Liquidity: Good Liquidity: Good

EUR/JPY parity: liquidity schedules (GMT)

EUR/JPY parity: liquidity schedules (GMT)

Did you know?

Monetary policy

  • The Bank of Japan (BoJ) is the central bank of the Japanese archipelago. Its main objective is to ensure non-inflationary growth and maintain the stability of the country's financial system.
  • Price setting method: the exchange rate is floating. The BoJ does not intervene directly in the foreign exchange market, but it closely monitors the evolution of its currency.

Features and highlights

  • The Yen is the third most transacted currency in the world: because of this, it is categorised as one of the "major" currencies. It is also Asia’s most liquid currency.
  • During the Fukushima earthquake (2011), the Yen tended to appreciate sharply: markets were anticipating overseas remittances from Japan for reconstruction.


There are no particular restrictions on the purchase and sale of JPY.


Expert opinion

The Japanese currency has been used as a safe haven for a few years, so it has tended to appreciate in times of market stress.

Payments in JPY to Japan

The following information is required:

  • BIC Code of the beneficiary bank
  • Full name, address and account number of the beneficiary.
Public Holidays 2018 (subject to change)
New Year’s Day 1 January Marine Day 16 July
Bank Holidays 2-3 January Mountain Day 11 August
Coming-of-Age Day 8 January Respect-for-the-Aged Day 17 September
National Foundation Day OBS 12 February Autumnal Equinox Day OBS 24 September
Vernal Equinox Day 21 March Health and Sports Day 8 October
Showa Day OBS 30 April Culture Day 3 November
Constitution Day 3 May Labor Thanksgiving Day 23 November
Greenery Day 4 May The Emperor's Birthday OBS 24 December
Children’s Day 5 May Bank Holiday 31 December