Japan is an island country in East Asia. Japan is the world’s third largest economy in terms of nominal GDP. Japan’s currency is Japanese Yen (JPY). There are around 2.5 million people of Japanese origin living overseas. Maximum number of immigrants are in Brazil, the United States, the Philippines, China, Canada and Peru.
In year 2015, Japan sent over $8.86 billion worth outward remittances globally while it received $3.67 billions of inward foreign remittances. Of this inflow, $1.28 billion was sent from US.
When you send money to Japan, you can send it in multiple currencies. You can choose from Japanese Yen (JPY), US Dollar (USD) or Euro (EUR). For each of these currencies, you will find various money transfer services. Compare these for exchange rate, remittance fee and transfer time and do check their reviews and offers to get the best value.
There is a unified platform for all remittance requirements - ExchangeRateIQ. It will help you explore the
Current Exchange Rate(Mid Market) :- 106.263 JPY/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.