Yen to US Dollar Exchange Rate Today

How much is 1 Yen in US Dollars?

One Yen is equal to 0.0068 US Dollars.

How much is 1000 Yen in US Dollars?

The value of 1000 JPY is 6.80 USD.

How much is 10000 Yen in US Dollars?

The value of 10000 JPY is 68.00 USD.

Use our Yen to US Dollar calculator to calculate other currency amounts.

Why is the Yen so weak?

The yen's recent weakness can be attributed to several factors. It has been the worst performer among major currencies against the US dollar this year, dropping approximately 11%. One primary reason is the divergence in interest rates between Japan and the US. While Japanese interest rates remain low to encourage inflation, the US and other countries have raised rates to address price growth, making US dollar-denominated assets more appealing to investors.

The Bank of Japan (BOJ) has somewhat eased control over Japan's 10-year government bond yields but maintains low rates to support the economy, which contracted in the quarter through September. BOJ Governor Kazuo Ueda lacks confidence that inflation will be sustained beyond the bank's 2% goal, particularly with sufficient wage gains. The Japanese government has not declared an end to its fight against deflation.

A weaker yen generally benefits large Japanese companies with global operations by increasing the value of repatriated overseas profits. It also supports tourism by enhancing the buying power of foreign travelers. However, a soft yen makes energy and food imports more expensive, impacting consumers and contributing to public dissatisfaction with Prime Minister Fumio Kishida. Kishida's economic stimulus packages aim to alleviate inflation-related challenges but prolong the BOJ's efforts to stimulate inflation, setting Japan apart from other major economies.

The future direction of the yen depends on the widening or narrowing of the interest rate gap between Japan and the US. A larger gap would exert downward pressure on the yen, while a smaller gap would support it. Investors are closely monitoring whether the Federal Reserve concludes its rate hikes and if the BOJ considers raising rates, as these factors will influence the yen's trajectory.