Currency Exchange Rate: JPY To NGN

Convert: Japanese Yen to Nigerian Naira

JPY arrow NGN

JPY  =  3.7564  NGN

JPY - Japanese Yen      JPY  =  3.75636  NGN      NGN - Nigerian Naira

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Remittance JPY to NGN Exchange Rates
Company nameCurrencyRate
Xendpay1 JPY3.4825 NGN
MoneyGram1 JPY3.4688 NGN
WorldRemit1 JPY3.3513 NGN
XpressMoney1 JPY3.3069 NGN

Today's Rates: 6/12/2021 11:29:35 PM brought you by RemitRardar

Exchange Rates

Exchange JPY to NGN
1 JPY3.75636 NGN
5 JPY18.78180 NGN
10 JPY37.56360 NGN
50 JPY187.81800 NGN
100 JPY375.63600 NGN
250 JPY939.09000 NGN
500 JPY1878.18000 NGN
1,000 JPY3756.36000 NGN
5,000 JPY18781.80000 NGN
10,000 JPY37563.60000 NGN
50,000 JPY187818.00000 NGN
100,000 JPY375636.00000 NGN
500,000 JPY1878180.00000 NGN
1,000,000 JPY3756360.00000 NGN

JPY Currency Details

The yen (Japanese: 円 Hepburn: en, symbol: ¥; code: JPY) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling. The concept of the yen was a component of the Meiji government's modernization program of Japan's economy; which postulated the pursuit of a uniform currency throughout the country modeled after the European decimal currency system. Before the Meiji Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. The New Currency Act of 1871 did away with these and established the yen, which was defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, as the new decimal currency. The former han (fiefs) became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation the Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II the yen lost much of its prewar value. To stabilize the Japanese economy the exchange rate of the yen was fixed at ¥360 per $1 as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per $1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per $1 by 1980. Since 1973, the Japanese government has maintained a policy of currency intervention, and the yen is therefore under a “dirty float” regime. This intervention continues until today. The Japanese government focuses on a competitive export market, and tries to ensure a low yen value through a trade surplus. The Plaza Accord of 1985 temporarily changed this situation from its average of ¥239 per US$1 in 1985 to ¥128 in 1988 and led to a peak value of ¥80 against the U.S. dollar in 1995, effectively increasing the value of Japan’s GDP to almost that of the United States. Since that time, however, the yen has greatly decreased in value. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has an extreme anti-inflation policy.

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Today's Rates: 6/12/2021 11:29:35 PM brought you by RemitRardar
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Top JPY - Japanese Yen Exchange Rates


Today's Rates: 6/12/2021 11:29:35 PM brought you by RemitRardar
From1 JPY0.009270.007660.006680.693840.06020.011960.183920.44716

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