jpy-currency

How to find the best Australian Dollar (AUD) to Japanese Yen (JPY) exchange rates

With Japan fast becoming a popular travel destination for many Australians, we've found out how you can secure the best exchange rate

Currency conversion often has negative connotations. Many people worry that the process of converting one currency into another will be complicated and that they will unavoidably lose a large chunk of cash regardless of what method or merchant they use.

Compare some of the best AUD/JPY exchange rates

Rates last updated September 23rd, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies.
Exclusive: World First International Money Transfers
AUD 2,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Send money overseas in at least 140 currencies.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Make your first transfer for free
Send money in more than 40 currencies.
Currency Solutions International Money Transfers
AUD 3,000
2 days
Online, Phone, Bank Account to Bank Account
Send money in 39 currencies.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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After you've submitted your details, a TorFX consultant will contact you via the phone number you've provide for a free consultation. You will typically receive a response within one business day.

TorFX are international money transfer specialists and have an office based in Surfer's Paradise Queensland and have the AFS Licence number 246838. We will not collect your personal information unless it's necessary to provide the information, advice or service you've requested and, where possible, you'll be able to use our services anonymously.

If you have never transferred money before or have a large amount of money to transfer (like paying back an overseas home loan or receiving an inheritance), you may feel more comfortable speaking to a person instead.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting
This doesn’t have to be the case but it is crucial that you find the best available exchange rate for your transaction. First though, you’ll want to identify the best possible provider for you. Let’s take a look at the options.

How can I get the best value for money when converting currency?

There are two factors that affect how much value you will get out of your currency exchange:

  • The current exchange rate. To get the best value out of converting your hard-earned cash into JPY, wait until the AUD is at its highest.
  • The provider you choose. There are various companies that will offer a competitive exchange rate but watch out for any extra fees they charge.

If you don’t want to get cash out in your chosen currency, try checking out the various travel cards on offer, which provide the convenience of a credit or debit card with your exchange rate already locked in. Regardless of where you are headed, it’s worth checking out some of our tips to save on currency exchange fees.

TorFX

One of the main currency converters out there, TorFX distinguishes itself by offering solid currency conversion rates and a guarantee to beat any competitor’s exchange rate. This could end up saving you a serious chunk of change, particularly if you are exchanging a sizeable amount of money. You can check out our full review of TorFX here.

AUD/JPY rate history

In contrast to the Aussie dollar, the Japanese yen has steadily risen to become the third most traded currency in the world and is currently sitting at roughly 7.6% of the world’s daily share. Unlike its Australian counterpart, the Japanese government has maintained a strict policy of currency intervention. This has resulted in the Australian dollar never exceeding the yen in value. Also, because of the trade surplus that exists between Japan and Australia, there is a downward pressure applied to Australia which translates to Japan invariably remaining the stronger currency.

That said, the Australian dollar has continued to grow. In the 12-month period from May 2016, we saw a rise from JPY79.50 to JPY83.72, which is an increase of 4.22 points.

Since September 2016, the Australian dollar has remained strong against the Japanese yen, due in part to the country focusing on bolstering its economy through its largest bank, leaving its interest rate unchanged. Trading in September at a respectable JPY77.37, the AUD has continued to climb somewhat against its Japanese counterpart, reaching JPY84.36 in May 2017. This is in direct contrast to instances such as in October 2000 when the AUD plummeted to as low as JPY56.94.

Though the AUD has taken a battering throughout the years against the JPY, it is currently trading at one of its highest points. Australians looking to exchange their Aussie dollars for yen will likely not suffer from any major losses. Based on the precedent and each nation's strong economic and trade ties, the long-term outlook for the AUD against the JPY suggests there will be little change. The AUD will likely remain strong with the occasional small dip.

When can I get the best AUD/JPY exchange rate?

Due to the ever-changing, fluctuating nature of exchange rates, it’s impossible to predict a specific time to exchange your cash. That said, keep yourself informed about what’s happening in the market and check out our tips on getting the best exchange rate here.

By looking at the exchange rate’s history, you can attempt to predict its future behaviour. In the period from May 2016 to May 2017, you’ll see that the lowest point for the AUD was in June when it reached only JPY74.91. Compare this to its highest point which was in February this year, when the Australian dollar reached JPY88.07. June is one of the Japan’s main tourist seasons, which could explain why the Australian dollar was so weak at that time.

Based upon this precedent, the fast-approaching June 2017 could mean another slump in the value of the AUD. It may not be the best time to have your currency exchanged.

Choosing the right transfer provider

So you’ve been closely monitoring the exchange rate and have decided that now is the best time to change your AUD into JPY. Where do you go from here? There’s a wealth of Australia-based providers to choose from, but the key is to choose the one that best suits you.

What to consider before you start:

  • Online transfer providers. There are plenty of companies to pick from, many of which specialise in fast and efficient transfers around the world. Check for merchant fees and transfer timeframes.
  • Cash transfer providers. Western Union and MoneyGram dominate the world market for cash transfer providers, with each boasting thousands of locations worldwide. There are plenty to be found around Australia too, ensuring that you’ll never be stranded somewhere without the possibility of having your currency exchanged. Check out our review of Western Union and our comparison of Western Union and MoneyGram.
  • Banks. You can use your bank to send an international money transfer direct from your account to a Japanese bank account. The issue that this immediately presents is the low exchange rates and high transaction fees such transactions normally incur, along with the fact that you would need a Japanese bank account. We’ve taken a look at sending money to Japan too.

Regardless of their methods, the majority of transfer providers make a profit on the “margin”, the “margin” being the difference between the price at which they purchase the foreign currency and the price at which they sell it to you, the customer.

What this means is that the exchange rate for your particular international money transfer might vary substantially from one provider to the next.

Specialist online transfer companies commonly offer the best exchange rates; that being said, you’ll still need to compare a broad range of providers to ultimately determine who will offer you the best deal.

How do I know when to transfer AUD to JPY?

The simple answer is: whenever the AUD peaks against the JPY… but this has never happened. Don’t worry though; it doesn’t mean that trading the AUD with the JPY will result in major losses either, although it does make when you should trade a complicated enterprise. It always pays to keep an eye on any shifts or changes in the market in the lead-up to your trip, so be sure to observe the foreign exchange rates.

If we examine the precedent via this graph as to when was the best time to have your AUD converted into JPY, we can see that it peaked on approximately 15 February this year.

image1

*Screenshot taken from xe.com 16/05/2017

From this graph we can see the whole spectrum of the AUD fluctuating against its JPY counterpart. What we can identify is:

  • In May 2016 the AUD was at JPY79.61.
  • In June 2016 the AUD dropped to JPY74.91.
  • In November 2016 the AUD had steadily risen over the year, with only occasional drops.
  • In February 2016 the AUD had reached JPY88.07 – the highest it has been in the entire period.

What can we interpret from this? That with the occasional minor drop, the AUD has been performing reasonably strongly against the JPY. Though it has never exceeded the yen, the Australian dollar is still currently at a great value, meaning that any amount you transfer (with the best transfer provider) will not end in the holiday being cut short prematurely. Take note though – there was a sizeable drop around June last year (the biggest for that year span) which could mean that this year will experience a similar drop. Be cautious about exchanging your currency during this period.

So although it is difficult to predict in advance what will happen with the market and how it will impact the value of the AUD compared to the JPY, it still pays to stay vigilant by monitoring what is happening. Keep yourself constantly informed by listening to financial experts on the news, taking into account their projections for the future. Always keep in the front of your mind what you have seen happen over the past year, when the AUD reached its highest and when it reached its lowest. Take all this into account and use it to help you decide when to exchange your currency.


Although the AUD has never eclipsed the yen in currency trade, it has been particularly strong in recent years.

Picture: Shutterstock

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TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.

FC Exchange International Money Transfers

FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.

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