Japanese Yen price today

The Japanese yen price in the Iranian market is usually quoted for every 100 yen , not for a single yen, because one yen on its own is worth so little that its Toman rate would be a small, hard-to-read number. This page likewise shows the live price of the yen in Tehran's open market in Toman, per 100 yen. Below, you will learn about this currency, the special role of Japan's central bank, how the yen behaves in crises and the factors that affect its Toman rate.

The Japanese yen: the world's third most traded currency

The yen (JPY) is Japan's official currency and was introduced as the country's national currency in 1871, during the Meiji reforms. Its symbol is ¥, which is the same as the symbol of the Chinese yuan . After the dollar and the euro, the yen is usually the third most traded currency in the global foreign exchange market, and Tokyo is one of the main currency trading centers in Asia.

Japan's monetary policy is set by the Bank of Japan (BoJ) . A key feature of Japan's economy is that it has struggled for decades with very low inflation and even falling prices (deflation). For this reason, the Bank of Japan kept interest rates near zero for years, ran negative interest rates from 2016 to 2024, and controlled bond yields through large-scale bond purchases.

Why is the yen price quoted per 100 units?

Unlike many countries, Japan does not divide its currency into smaller units, and its smallest coin is one yen. The value of one yen against the dollar is a small fraction; in the global market, the dollar-to-yen price is usually quoted (that is, how many yen one dollar buys), and this is a multi-digit number. To make the yen's Toman rate comparable and readable, exchange offices and price websites in Iran report it per 100 yen.

So if, for example, you go to an exchange office to buy a 10,000-yen banknote, multiply this page's rate by 100. The global dollar-to-yen rate (USD/JPY) and the open-market dollar price are the two main components of this calculation. Note that in USD/JPY a higher number means a weaker yen; so when USD/JPY rises, the yen's Toman rate falls.

The yen: a safe-haven currency and a "carry trade" tool

The yen plays two seemingly contradictory roles in the global market:

• Safe haven: Japan is one of the world's largest creditor nations and holds substantial foreign assets. In crises, Japanese investors bring part of this capital back home, and demand for the yen rises. That is why the yen, like the Swiss franc and gold, usually strengthens during periods of fear.
• Funding currency: Because Japan's interest rates have been very low for years, traders borrow yen and invest in higher-yielding currencies; this is called the "carry trade". In calm periods, this weakens the yen, and when fear grips the market, the sudden unwinding of these trades can strengthen the yen rapidly.

These two roles explain why the yen sometimes makes very sharp moves in a short time: years of gradual weakening in calm periods, and a sudden jump when fear returns to the markets. For anyone following the yen's Toman rate, this means the yen may behave differently from the open-market dollar precisely on days when worrying global news breaks. Comparing the yen chart with the global gold price (ounce) during these periods often reveals interesting points.

Factors affecting the yen price

1. Domestic factors in Iran

Inflation, sanctions, foreign currency income and political expectations determine the rial's value against all currencies and shape much of the yen's long-term trend in Tehran.

2. The interest rate gap between Japan and the US

The most important driver of USD/JPY is the difference in interest rates and bond yields between the two countries. Any sign of rate hikes in Japan or rate cuts in the US usually favors the yen. Compare current rates on the global interest rates page.

3. Currency intervention

Japan's Ministry of Finance has intervened in the market by selling dollars during periods when the yen weakened too quickly. The possibility of such intervention at sensitive levels causes sudden swings.

4. Bank of Japan data and meetings

Japan's inflation figures, wages and Bank of Japan decisions, especially when they differ from market expectations, move the yen. Follow their timing in the Teagle economic calendar .

The yen for Iranians

Japan was once a major buyer of Iranian oil, and Japanese cars, electronics and machinery had a strong presence in the Iranian market for years. In the early 1990s, a considerable number of Iranian workers were also employed in Japan. Today, however, the yen market in Tehran is small, and demand comes mostly from tourism, study and specific business payments. A few points:

• Check the price unit: this page's rate is in Toman and per 100 yen; when comparing with an exchange office's rate, make sure both are quoted for the same unit.
• Shallow market: the supply of yen banknotes is limited, and the gap between buying and selling rates is usually wider.
• Japan is a cash-based society: despite the spread of electronic payments, cash is still widely used in Japan; Iranian travelers without access to an international card should plan their expenses in cash.
• Licensed exchange office: buying and selling currency is subject to the regulations of the Central Bank of Iran.

The yen in the forex market

Yen pairs such as USD/JPY, euro to yen (EUR/JPY) and pound to yen (GBP/JPY) are among the most traded forex symbols. In these pairs, one pip equals the second decimal place (0.01), not the fourth. The Tokyo market is active during the Asian session, i.e. early morning Iran time; see its exact hours in global market hours . Trading with leverage carries high risk; before taking any action, read the forex broker reviews and follow the list of all currencies in the Iranian market currency section .

The information on this page is for informational purposes only and is not a buy or sell recommendation. Prices are obtained from the stated sources and may differ slightly from the rate at your local exchange office.