In this guide, we will delve into the fascinating world of money in Japan. From the Japanese currency to yen exchange rates and Japanese money symbols, we will cover everything you need to know about handling money during your visit to this incredible country.
Japanese Yen Denominations and Symbols
The Japanese yen offers a variety of denominations, including coins and notes that feature unique symbols and designs. Understanding these denominations and symbols is important for navigating monetary transactions in Japan.
Coin Denominations
The Japanese yen coins are available in six denominations:
| Denomination | Symbol | Description |
|---|---|---|
| 1 yen | A light silver coin made of 100% aluminum. | |
| 5 yen | A gold coin with a hole in the middle. It features a rice stalk, a gear, and the sea on its front, and two leaf buds on its back. | |
| 10 yen | A bronze coin featuring the Byodo-in Phoenix Hall on its front. | |
| 50 yen | A coin with the chrysanthemum symbol and a hole in the middle. | |
| 100 yen | A commonly used coin with a variety of everyday shopping applications. | |
| 500 yen | The largest yen coin with a distinct weight. |
Note Denominations
In addition to coins, the Japanese yen also comes in four note denominations:
| Denomination | Description |
|---|---|
| 1,000 yen | A commonly used note for everyday transactions. |
| 2,000 yen | A rare note denomination that is not often seen in circulation. |
| 5,000 yen | A higher-value note used for larger transactions. |
| 10,000 yen | The highest denomination note available in Japan. |
The Japanese yen symbol is represented by the kanji 円, which is pronounced “en” in Japanese. It is frequently used to denote prices and currency values in Japan.
Payment Methods in Japan
Cash is still widely used in Japan, especially for small purchases and in rural areas. It’s recommended to have smaller denominations of yen coins and 1,000 yen notes for convenience.
Credit and debit cards are increasingly accepted in Japan, with major cards like MasterCard, Visa, and JCB being commonly accepted. It’s advisable to carry sufficient cash even when using a credit card.
IC cards, such as Suica and Pasmo, are convenient for transportation and can also be used for payments in urban areas. Mobile payment options like PayPay and Line Pay are becoming popular, but their availability for foreign tourists can be limited.
Despite the increasing acceptance of credit cards and mobile payments, cash remains the preferred method of payment in many situations in Japan. This is especially true for small businesses, local markets, and traditional establishments.
Credit card payment in Japan is becoming more widespread, particularly in larger cities and tourist areas. However, it’s important to be aware that not all businesses accept credit cards, especially smaller shops and establishments.
IC cards, such as Suica and Pasmo, are rechargeable smart cards that can be used for payments on public transportation and at select retail stores. These cards offer convenience and ease of use for both locals and tourists.
When traveling in Japan, it’s always a good idea to carry some cash for smaller purchases, street food vendors, and places that may not accept card or mobile payments. ATMs are widely available, and international cards are accepted at both bank ATMs and convenience store ATMs.
Currency Exchange and ATM Withdrawal
When traveling to Japan, it’s important to have a plan in place for currency exchange and ATM withdrawals. Japan offers several options for exchanging your currency into Japanese yen (JPY). Banks, post offices, and licensed money changers are the main institutions where you can exchange your money. Keep in mind that exchange rates and fees may vary depending on the institution you choose.
Before exchanging your currency, it’s a good idea to check the current exchange rates. Services like XE Currency Converter or Wise’s own Currency Converter can provide up-to-date information to help you make informed decisions.
ATMs in Japan are another convenient option for accessing yen. Some ATMs accept foreign-issued cards, but availability and service fees may differ. Japan Post ATMs and 7-Eleven ATMs are popular choices among travelers for withdrawing yen.
For a hassle-free currency transfer experience, consider using Wise (formerly TransferWise). Wise offers a fee-free transfer option, allowing you to transfer money to a local Japanese account or access currency conveniently during your trip.
Japanese Money Etiquette and Points of Note
Tipping is not customary in Japan, and leaving a tip at a restaurant or for a taxi driver may result in the money being returned. It’s important to follow money etiquette, such as using the small tray provided for payments and placing money on it instead of directly giving it to the cashier.
Counterfeit money is virtually non-existent in Japan, so there is no need to worry about it. It’s advised to exchange yen in Japan for better rates and lower commissions, especially away from major airports. It’s also important to be mindful of the denominations and characteristics of Japanese coins and bills.
| Denomination | Coins | Notes |
|---|---|---|
| 1 yen | Aluminum coin | – |
| 5 yen | Gold coin with hole | – |
| 10 yen | Bronze coin | – |
| 50 yen | Silver coin with hole | – |
| 100 yen | Silver coin | – |
| 500 yen | Bi-metal coin | – |
| – | – | 1,000 yen note |
| – | – | 2,000 yen note (rare) |
| – | – | 5,000 yen note |
| – | – | 10,000 yen note |
Money-related Tourist Attractions
For those interested in learning more about Japanese money, Japan offers several money-related tourist attractions that provide valuable insights into the country’s monetary system. One such attraction is the Bank of Japan Currency Museum. Here, you can explore the rich history of Japanese currency through various exhibits and displays. From ancient coins to modern banknotes, the museum offers a comprehensive overview of Japan’s monetary evolution.
If you’re interested in the financial market, a visit to the Tokyo Stock Exchange is a must. Located in the heart of Tokyo, this renowned stock exchange offers a glimpse into Japan’s economic hub. Take a guided tour to learn about the exchange’s operations and the role it plays in shaping Japan’s economy and global financial landscape.
For a closer look at the process of minting coins, head to the Osaka Mint Bureau. This institution has been responsible for producing Japanese coins for over a century. Explore the mint’s facilities, witness the intricate coin-making process, and gain an appreciation for the craftsmanship involved in creating Japanese currency.