I wonder if it’ll stay that way, I think they’re trying hard NOT to raise prices for Japanese at this time, but it’s not sustainable as rent also goes up, power, labor.
@@CandycaneBeyondJapanese wage increases 3.6% in 2023 but that is counted in Yen. Yen value dropped for 15% to USD in 2023, In total USD to yen is up 50% from 2021 😂
I usually come to Japan twice a year for the past 10+ years. In the past I would just withdraw money from 711 when I arrive. Now, I exchange my USD to YEN at my local bank (Bank of America) to lock in the rate. Since the rate is near 155 per dollar, I have been withdrawing more from the 711 since I'm currently in Tokyo.
Bank of Japan is printing 60 billion USD worth of yen each month to keep interest rates low. It's devastating for Japanese households and SME. The problem is the huge asset bubble in Japan whether it be the real estate or equity market at record levels. The BOJ knows what happens if interests rates were to rise. Basically a repeat of the crash in 1992. Very scary!!!!
@@metallicsigma the bank of Japan is monetizing the debt, aka buying the debt with the money they print. Japan has many structural issues ranging from zombie company’s to a declining aging demographic. Problems that require big structural changes which would be politically, very unpopular. These problems go very deep and printing money is a cheap easy bandaid but have clear limitations.
@@TheErtsj It's interesting to see that one of the most advanced people who solved very complex technological problems like earthquare resistant buildings, bullet trains, super durable cars (toyota), etc... are unable to solve their financial problems... Very unfortunate. :(
Hi John. I appreciate the topic of discussion and look forward for the upcoming discussion of how and where to exchange money. I plan on using the ATMs at convenience stores. ✌🏼
As much as I love shopping in them because they remind me of Japan, Daiso and Uniqlo in Australia charge 2-3 times more for the exact same products in Daiso and Uniqlo in Japan.
All the expats complain about the low yen, but this will give a massive boost to the Japanese economy, because Japan is exporting now more than ever before. Exports make up 22% of GDP now, compared to around 12% in the booming 1980s when everything was 'Made in Japan'.
Agree that this low Yen value is SAVING the Japan economy and the political tenure of Mr. Kushida as well. Manufacturing cars and other heavy equipment to the world, along with really strong tourism is the magic sauce.
In terms of volume, exports down year-on-year in March indicating a weakening trend. The yen's depreciation boosted the cost of imports leading to a trade deficit. Considering Japan is resource starved, importing 94% energy and 60% food , more suffering ahead.
@@pbworld7858meh, we aren’t really. We are scrimping and saving and avoiding imported goods especially American stuff. But if we are smart and a little more mobile we can keep our money outside Japan and then bring it in and have major purchasing power.
I have to echo what others have mentioned in past streams. If you are American and planning a future trip, get yourself setup with a free Schwab checking account. The debit card has no international fees, and the ATM fee charged by 711 is refunded at the end of the month. On my last trip it was fantastic. In general you also want to make sure when using an ATM that you withdraw in JPY, rather than the USD button. This ensures that you get your banks exchange rate, which is most always better than 711/JP.
To add to this, 711 can generally be easier than Japan Post, due to having a higher withdrawal limit. I have also seen them provide an option to obtain smaller bills.
Concur. I have the reimbursed fee Schwab account too which works at all 7-11 ATMs. Rate is about 3-5 yen/dollar from the “market” rate. Withdrawal limit 100,000 yen per day. As OP said, always choose transaction in JPY for best rate. Other money changing option I use in a separate post.
Next five years seems like the time to travel for foreigners. interesting. Thank you for the update! I always enjoy your financial break down of the Japanese yen and how it correlates to the US dollar and world economy. Hopefully the people of Japan and its businesses are able to stay afloat and thrive!
I remember when the Yen was 200-220 to the dollar in the 1980's. That was a good time to be in japan. Lived there for 6 years and felt like I never ran out of yen. The old videogames in places use to cost 10 Yen to pay. So was like 2 cents for us....
Buy now. Travel later. I’m accumulating Yen now but given the overcrowding tourist traffic now I’m going to defer further travel until the Yen rebounds.
Buy Yen now for sure 💹 I'm doing the same, but I don't think there's going to be a near-future downturn in tourism, in fact I'd say that tourism will only grow. Japan is pushing to increase tourist numbers 50%+ The increase in tourism into the future will likely see shorter stays in the cities and push more tourists out into the rural areas boosting the economy in those much needed sectors. Tip is: explore the quieter areas of the cities, and get out to the rural areas, where the best of Japan is waiting for you and you'll be glad you did. I'm on my 10th trip, #11 is booked.
Thanks for the update. Keep the good work I was just chatting online with an ol friend of mine who lives in Kyoto. He’s saying something similar. Hopefully I can save up enough money to visit in the next 18 months. ❤
lol. I was in Ginza about 3 hours after you streamed. Thank youuu for looking into the currency exchanges. I've been looking for machines as I travel around. I haven't seen any yet but I'm not looking very hard either 😂
Does anyone remember how usa bullied Japan to sign The Plaza Accord back in 1985? Back then 250 Yen was 1 us dollar and after the accord in two years went to 125. For an exporting economy like Japan, the overvaluation of their currency caused many problems that Japan still sees their effects till today. As an example, South Korea is fighting tooth and nail to keep its currency undervalued at 1400 won to 1 us dollar.
after that the Japanese economy slowly made a transition from manufacturing to service and less reliant on exports.......I think now is the time to get back to manufacturing and exporting
I went to Japan for 3 weeks between February and March 2024 and I went on a big shopping spree while being there. The $1 - ¥150 currency exchange made me feel like everything was so affordable, along with some stores giving me an additional 10% off tax free with my passport.
hey John, I stayed in Asakusa last year for 28 days cost $870 this year 30days $1,991. I get my yen before I travel its cheaper that way although I have used the ATM machines in TOKYO but that dos cost extra, eating out in Japan IS fantastic a real treat the food is so delicious. Even the flight is roughly the same cost as in 2017!! best wishes⛩🏯👘👘👘🎎👍
For as much as I benefit from USD when in Japan, I can't help but wish it improves more. Like it was already pretty damn nice at just 120 yen to 1 USD. Maybe it's because I'm in Hawaii and have noticed a significant drop in Japanese tourists, but the current situation for Japan just makes me feel sad.
Last week it was bang on 1 Aussie to 100 yen at least meant no mental arithmetic or whipping out the converter app. Not good for local consumers though, they still get subjected to price rises, especially on imported foods and low-margin consumer items.
Visited Japan a few weeks ago in March. Yeah, it was SHOCKING how cheap things were compared to my past visits. You can get a good dish at Yoshida for $3. It is not fair for the locals.
P.S. . . Uniqlo in Ginza was insane this afternoon. Full of tourists going nuts in there. All the way to the top floor. Nothing like how it was in September. All I needed was a jacket and it was painful to navigate through 😂
Bought 200k yen from my bank in Denmark before I went last year. Did the same in 2019 when I was in Japan , but as opposed to then, CC's are now more widely accepted, so most went into charging the Suica cards for the '23 trip - Hopefully we'll be back in Japan/Tokyo in 2025 :)
what is the cheapest way to travel to airports or certain locations in Japan. because the Shinkansen is too expensive nowadays unless you know of a way to get on one that is half the price. Hiroshima to Tokyo is 20,000 ¥ way higher than it was when I first got here.
Wife and I just returned home from 5 weeks in Japan. Fully took advantage of the high dollar. Came home with a beautiful Made in Japan Fender Stratocaster.
Things are changing as more stores and businesses start allowing Debit and credit cards vs cash only, mostly in the major cities. Once you get out into the smaller towns you would more likely need cash for things. If your credit card doesn't charge a conversion fee that's a great way to go and you can always get cash via 7 Eleven at a good rate. Please spread the travel money around to smaller destinations and see more of Japan :)
14:19 in new York City many shops are closing because landlords are raising the rent too high and it's not profitable anymore. Giving people a reason to retire.
On the other hand will sales of products and tourism skyrocket? Will that in the end be beneficial? Mexico has always been weaker but because of the discrepancy it has brought many factories and growth in tourism to the country.
I too a Viatour , organized tour, on Tuesday, to Kamakura, NOT 1 American on the whole bus. Just Chinese and 3 New Zealand people. So no Americans not here. Just some for Disneyland. Youngish not many.
I live in the Philippines, a developing economy. Everything in Japan except for taxis are cheaper than the Philippines. I even wonder how half of the businesses are making a profit.
A depreciating yen or strong usd is good for Japan's big multinational businesses as they can get more Yen for their buck, increase profits, also international tourists buying yen to spend in Japan. Hotels, transport, telco, tourist attractions, food and beverages will do well and get a massive boost. So long the depreciation stays within a narrow band, Japan's economy will benefit from it. As you mentioned John, a weak Yen means more locals doing domestic travel. This will boost the domestic tourism sector.
I'm in rural Oregon, and my bank (US Bank) has a physical branch here in town. But I use their app for a lot of things. I just checked and I can order foreign currency through the app, up to 15K USD. 👍
The highest exchange rate for the US dollar to Japanese yen in 2014 was 120.982 on August 12, 2014. The lowest exchange rate for 2014 was 100.806 on April 2, 2014
The Japanese govt should have enacted good fiscal policy interest rate rises twenty years ago as the rest of the world did. And here you are as somebody who studied economics and fail the say the govt failed their duty of care regarding fiscal policy Say it sister I love yr vids keep up the good work
So many are saying the weak yen helps exports and tourism, but that only benefits a minority in Japan. The vast majority of Japanese locals only feel more pain as imports keep getting more expensive. For example, while foreign tourists can't believe the great hotel deals they are getting with their strong currencies, more and more Japanese locals cannot afford the higher room rates. A lot of salarymen on business trips to Tokyo cannot stay in the business hotels as before and are forced to find cheaper hotel rooms out in Chiba or Saitama. Many local restaurants are reeling because imported food like beef, olive oil, etc. just keep rising in price.
🇦🇺 We aussies have finally got our dollar in parody with the Yen ... 100Y = 100c AU (at last 🥳) ... While we still suffer with the US dollar .... US$1 = AU$1.55 ,exactly the same issue the Japanese now have against the US$ 💰 ... for me, best travel C.card is 28-degrees ... & WISE for YEN/cash gives best exchange rate
I haven't been to Japan yet but I usually get foreign currency 💱 at my local foreign exchange office in Downtown LA. On the rarity, I do exchange my USD in the foreign country that I am visiting.
We traveled to Hawaii Christmas 2023 then on to Japan and there was a massive amount of Japanese tourists in Honolulu . Then in Japan it was packed with American tourists.
I live in Hawaii and I was just there 711 japan ATM is the best for exchange if you are in japan. But here in Hawaii a credit union is the best to change but you typically need to put an order in.
I heard from my money trader said that 160 will be next week… By year end, it will be 172-180 and stay there for a long time… 5% interest spreads too much… even it close up 3%, Japanese Yen will be weak… Japan inflation will be up, noodles will be 1800 to 2500 soon… Sad for Japan and Japanese…
Tourism spending with yen , I think helps the economy but yeah, not good for Japanese traveling abroad or companies especially who uses US dollars for the business
I live in Australia, currency exchange here is super bad, so we dont do it here. Its worse than those quick exchange machines around japan. Best way is to use cards like Wise, UP, or cards that allows us to withdraw cash from japanese ATM (this is the best method and you can witthdraw what you need and when you need it). Or we go to countries like Vietnam, Singapore, where the currency exchange places are decent. (if we do a stop over that is)
Why did they expect the yen to get stronger when they raised the interest rate to 0? It's still 0. Why would anyone abroad invest in Japan when they get 0? Maybe when they raise the rates to a positive number it'll improve? Who knows?
So far the best place to exchange USD for yen that I found in Fukuoka was in the fukuoka Internal terminal airport upstairs on the main check in area. Also in Hakata Station there's a money exchange place near the Shinkansen ticket place. Have the best rates. On April 10th it was 151 and I got 148.60 worth in yen to USD. Miss it lots there. Love Japan. Will be back later this year
Ginza! Nikkei is at all time highs which may make up for 'some' of the difference in salary in Japan for the typical white collar salarymen that typically has some exposure to the market through various corporate/employee/individual plans.
To grow the economy, people need more disposable income to consume. It’s tight for many right now - and oddly, Tokyo’s building so many sky scraper condos for $1M plus! Who’s buying them?! Feels like the bubble could bust …
Yes "But" you never remember to mention that hotel prices did skyrocket... right now it might be because of sakura and golden week but I never seen the prices this high. In March even "cheap" dormitory hostel rooms you had to share with 5 or more people were like 100$ a night ... completely insane if compared with 12-28$ I paid for private rooms in 2012-2019
Japanese tourists indeed have a great reputation abroad but this was not always repaid. They would often get crappier rooms and service because they were less likely to complain compared to western or Chinese tourists. And with everything in economics the devaluation of the yen has 2 sides, but overall it's a positive for Japan. They are essentially in a currency devaluation arms race with other (east Asian) economies. Many Japanese companies are considering moving production back home. Japan has the highest number of hotel rooms it has ever had and the number is still rising.
The Yen is getting weaker and the Dollar is getting stronger because of demand. If you were Japanese, and only get .01% interest then you would want to sell the Yen and buy Dollars to invest in Non-risky American investments and get 5%+ easily. Especially if the Yen is getting weaker daily. As more news of new exchange lows keep hitting the news, and as more people discover foreign investing, this will snowball in the Japanese people dumping the Yen to buy anything else. I don't think the Bank of Japan (BOJ) will rapidly raise interest rates. The BOJ has a history of "let us not be too hasty", even if the room is on fire. I think we will see Yen at 200 to the Dollar.
You aren't going to eat ramen, cos I know you are sticking to your diet. Lol. Am I right? You have great willpower, John! Looking forward to your next live.
I have no complaints. I've been purchasing hobby stuff there that is 70% cheaper than here in the US. It's like free there. Can't wait until it hits the 200yen/USD mark. It's Christmas everyday. Now you can afford to just go to Japan for lunch. Yahoooooooo!
i use money transfers like western union, when traveling into south east Asia. I also have a multi currency account with HSBC. Adrian from Australia. Here in Australia massive drop in japan people come to australia
Doing it at your local bank or local cash exchange places in your own country is a good way to get a good rate. Rather than entering a new country and doing it there.
I absolutely felt rich shopping in Japan. A graphic t-shirt at Uniqlo cost $9 in Japan and almost $30 in the US. Food was also super affordable
Even last year, Panasonic personal care electronics were half the price in Japan (BIC Camera and the like) than they were as listed on Amazon.
I wonder if it’ll stay that way, I think they’re trying hard NOT to raise prices for Japanese at this time, but it’s not sustainable as rent also goes up, power, labor.
Didn't they recently give a raise to everyone?
@@onlyinjapanGO it makes sense for companies to raise prices but the Japanese will feel it heavy
@@CandycaneBeyondJapanese wage increases 3.6% in 2023 but that is counted in Yen. Yen value dropped for 15% to USD in 2023, In total USD to yen is up 50% from 2021 😂
As a Swiss, I'm used to that everything is cheaper outside my country, but last March in Japan, I felt like a millionaire
U know the sushi-bento in Migros, the big one .... CHF 🇨🇭 30,-- 😢 in Japan about 8 CHF 😋😁
I usually come to Japan twice a year for the past 10+ years. In the past I would just withdraw money from 711 when I arrive. Now, I exchange my USD to YEN at my local bank (Bank of America) to lock in the rate.
Since the rate is near 155 per dollar, I have been withdrawing more from the 711 since I'm currently in Tokyo.
Thanks!
Thank you ^_^
Bank of Japan is printing 60 billion USD worth of yen each month to keep interest rates low. It's devastating for Japanese households and SME. The problem is the huge asset bubble in Japan whether it be the real estate or equity market at record levels. The BOJ knows what happens if interests rates were to rise. Basically a repeat of the crash in 1992. Very scary!!!!
Isn't printing money gonna increase the debt more and create more problem. Why are they not working on a solution instead of making the problem worse?
@@metallicsigma the bank of Japan is monetizing the debt, aka buying the debt with the money they print. Japan has many structural issues ranging from zombie company’s to a declining aging demographic. Problems that require big structural changes which would be politically, very unpopular. These problems go very deep and printing money is a cheap easy bandaid but have clear limitations.
@@TheErtsj It's interesting to see that one of the most advanced people who solved very complex technological problems like earthquare resistant buildings, bullet trains, super durable cars (toyota), etc... are unable to solve their financial problems...
Very unfortunate. :(
Hi John. I appreciate the topic of discussion and look forward for the upcoming discussion of how and where to exchange money. I plan on using the ATMs at convenience stores. ✌🏼
As much as I love shopping in them because they remind me of Japan, Daiso and Uniqlo in Australia charge 2-3 times more for the exact same products in Daiso and Uniqlo in Japan.
All the expats complain about the low yen, but this will give a massive boost to the Japanese economy, because Japan is exporting now more than ever before. Exports make up 22% of GDP now, compared to around 12% in the booming 1980s when everything was 'Made in Japan'.
Agree that this low Yen value is SAVING the Japan economy and the political tenure of Mr. Kushida as well. Manufacturing cars and other heavy equipment to the world, along with really strong tourism is the magic sauce.
@@Arturo-sm1tb And people who actually live in Japan are suffering.
@@Arturo-sm1tblol don’t quit your day job
In terms of volume, exports down year-on-year in March indicating a weakening trend. The yen's depreciation boosted the cost of imports leading to a trade deficit. Considering Japan is resource starved, importing 94% energy and 60% food , more suffering ahead.
@@pbworld7858meh, we aren’t really. We are scrimping and saving and avoiding imported goods especially American stuff. But if we are smart and a little more mobile we can keep our money outside Japan and then bring it in and have major purchasing power.
I have to echo what others have mentioned in past streams. If you are American and planning a future trip, get yourself setup with a free Schwab checking account. The debit card has no international fees, and the ATM fee charged by 711 is refunded at the end of the month. On my last trip it was fantastic.
In general you also want to make sure when using an ATM that you withdraw in JPY, rather than the USD button. This ensures that you get your banks exchange rate, which is most always better than 711/JP.
To add to this, 711 can generally be easier than Japan Post, due to having a higher withdrawal limit. I have also seen them provide an option to obtain smaller bills.
@@SinKillerJ Thank you for this!
Concur. I have the reimbursed fee Schwab account too which works at all 7-11 ATMs. Rate is about 3-5 yen/dollar from the “market” rate. Withdrawal limit 100,000 yen per day. As OP said, always choose transaction in JPY for best rate.
Other money changing option I use in a separate post.
Thanks for the hack. Any more tips feel free to share.
What you save on Schwab’s ATM fee probably gets lost on their exchange rate.
Next five years seems like the time to travel for foreigners. interesting. Thank you for the update! I always enjoy your financial break down of the Japanese yen and how it correlates to the US dollar and world economy. Hopefully the people of Japan and its businesses are able to stay afloat and thrive!
I remember when the Yen was 200-220 to the dollar in the 1980's. That was a good time to be in japan. Lived there for 6 years and felt like I never ran out of yen. The old videogames in places use to cost 10 Yen to pay. So was like 2 cents for us....
Something tells me I should now start planning for another trip to Japan. 😬
If I do, it’ll be my third one.
Good idea ... I was last year in Tokyo and for 100 CHF 🇨🇭 i got 13000 yen. It is 16900 yen right now
same haha
Buy now. Travel later. I’m accumulating Yen now but given the overcrowding tourist traffic now I’m going to defer further travel until the Yen rebounds.
What do you mean by “buy now”? As in purchase a ticket for way in the future? And then travel when tourism has slowed down? Thanks.
@@DavidTheCastle I think he's talking about buying yen from US dollar.
Buy Yen now for sure 💹 I'm doing the same, but I don't think there's going to be a near-future downturn in tourism, in fact I'd say that tourism will only grow. Japan is pushing to increase tourist numbers 50%+
The increase in tourism into the future will likely see shorter stays in the cities and push more tourists out into the rural areas boosting the economy in those much needed sectors.
Tip is: explore the quieter areas of the cities, and get out to the rural areas, where the best of Japan is waiting for you and you'll be glad you did. I'm on my 10th trip, #11 is booked.
@@Gazumi-inOZ I have a different view informed by economic cycles and other factors.
@@bradl2636 time will tell 🙂 ... either way, let's enjoy Japan together ☺️
Thanks for the update. Keep the good work I was just chatting online with an ol friend of mine who lives in Kyoto. He’s saying something similar. Hopefully I can save up enough money to visit in the next 18 months. ❤
lol. I was in Ginza about 3 hours after you streamed. Thank youuu for looking into the currency exchanges. I've been looking for machines as I travel around. I haven't seen any yet but I'm not looking very hard either 😂
Brandy in my experience the machines aren't really worth it anyway as their exchange rates are poor.
When I studied in Japan, it was 240. It was 1982.
Does anyone remember how usa bullied Japan to sign The Plaza Accord back in 1985? Back then 250 Yen was 1 us dollar and after the accord in two years went to 125. For an exporting economy like Japan, the overvaluation of their currency caused many problems that Japan still sees their effects till today. As an example, South Korea is fighting tooth and nail to keep its currency undervalued at 1400 won to 1 us dollar.
after that the Japanese economy slowly made a transition from manufacturing to service and less reliant on exports.......I think now is the time to get back to manufacturing and exporting
I went to Japan for 3 weeks between February and March 2024 and I went on a big shopping spree while being there. The $1 - ¥150 currency exchange made me feel like everything was so affordable, along with some stores giving me an additional 10% off tax free with my passport.
Is there a website or tradeshow to connect with Japanese businesses if I want to buy goods for selling in the US?
hey John, I stayed in Asakusa last year for 28 days cost $870 this year 30days $1,991.
I get my yen before I travel its cheaper that way although I have used the ATM machines in TOKYO but that dos cost extra, eating out in Japan IS fantastic a real treat the food is so delicious.
Even the flight is roughly the same cost as in 2017!! best wishes⛩🏯👘👘👘🎎👍
nice update, keep it up! :)
For as much as I benefit from USD when in Japan, I can't help but wish it improves more. Like it was already pretty damn nice at just 120 yen to 1 USD. Maybe it's because I'm in Hawaii and have noticed a significant drop in Japanese tourists, but the current situation for Japan just makes me feel sad.
Enjoy it while it lasts 🤙🏼
Last week it was bang on 1 Aussie to 100 yen at least meant no mental arithmetic or whipping out the converter app. Not good for local consumers though, they still get subjected to price rises, especially on imported foods and low-margin consumer items.
Visited Japan a few weeks ago in March. Yeah, it was SHOCKING how cheap things were compared to my past visits. You can get a good dish at Yoshida for $3. It is not fair for the locals.
It's going to be great when I visit at the end of May! They are speculating that it gets to $1.60 easily!
P.S. . . Uniqlo in Ginza was insane this afternoon. Full of tourists going nuts in there. All the way to the top floor. Nothing like how it was in September. All I needed was a jacket and it was painful to navigate through 😂
thank you for covering this so in depth and giving insight on this
I’m in Tokyo now and am loving how cheap it is
Market analysts are reporting that Japan has slipped into a recession.
Who hasn't?
@@onlyinjapanGOTrue. So many countries are suffering from high inflation rates.
America is but they won't admit it because it's an election year 😅
@@CandycaneBeyondword
The best exchange rate Ginza Exchange (Shimbashi station 5 minutes walk) no limit also like in HND our Narita max 1980€ to ¥
Bought 200k yen from my bank in Denmark before I went last year. Did the same in 2019 when I was in Japan , but as opposed to then, CC's are now more widely accepted, so most went into charging the Suica cards for the '23 trip - Hopefully we'll be back in Japan/Tokyo in 2025 :)
What do you think about Wise or Nomad card in Japan?
LOL! In 1971 it was $1=360Yen before Nixon went off the gold standard. I was young and rich.
what is the cheapest way to travel to airports or certain locations in Japan. because the Shinkansen is too expensive nowadays unless you know of a way to get on one that is half the price. Hiroshima to Tokyo is 20,000 ¥ way higher than it was when I first got here.
Definitely benefit tourists travelling to Japan. JPY 1000 = SGD 8.9166 exchange rate from the local money changers .
What I'm not keen on is the rapid increase in hotel rates.
Wife and I just returned home from 5 weeks in Japan. Fully took advantage of the high dollar. Came home with a beautiful Made in Japan Fender Stratocaster.
Things are changing as more stores and businesses start allowing Debit and credit cards vs cash only, mostly in the major cities. Once you get out into the smaller towns you would more likely need cash for things. If your credit card doesn't charge a conversion fee that's a great way to go and you can always get cash via 7 Eleven at a good rate. Please spread the travel money around to smaller destinations and see more of Japan :)
14:19 in new York City many shops are closing because landlords are raising the rent too high and it's not profitable anymore. Giving people a reason to retire.
On the other hand will sales of products and tourism skyrocket? Will that in the end be beneficial? Mexico has always been weaker but because of the discrepancy it has brought many factories and growth in tourism to the country.
Can you explain why the yen is so weak now? What caused it in the economy?
Interesting! Thanks for sharing it. ✌️
Wow is that a working phone booth? Haven't seen one for a while! Really like the ramen bldg.
Hawaii is crazy expensive for Japanese with weak Yen
I was there for a visit in 1987 and it was about 134 and it had gotten weaker than it was earlier in the 80’s.
I too a Viatour , organized tour, on Tuesday, to Kamakura, NOT 1 American on the whole bus. Just Chinese and 3 New Zealand people. So no Americans not here. Just some for Disneyland. Youngish not many.
I love your videos! Heading to Japan in September 2024! Is it good idea to exchange my daughters now?
My suggestion about exchanging money is to use a no foreign exchange fee credit card and use it to feed your virtual Suica card
Use a revolut card in Japan. Accepted in loads of places, exchange into ¥ with no fees. You get the best rate too.
I live in the Philippines, a developing economy. Everything in Japan except for taxis are cheaper than the Philippines. I even wonder how half of the businesses are making a profit.
A depreciating yen or strong usd is good for Japan's big multinational businesses as they can get more Yen for their buck, increase profits, also international tourists buying yen to spend in Japan. Hotels, transport, telco, tourist attractions, food and beverages will do well and get a massive boost. So long the depreciation stays within a narrow band, Japan's economy will benefit from it. As you mentioned John, a weak Yen means more locals doing domestic travel. This will boost the domestic tourism sector.
I'm in rural Oregon, and my bank (US Bank) has a physical branch here in town. But I use their app for a lot of things. I just checked and I can order foreign currency through the app, up to 15K USD. 👍
Too bad most places still want to only offer 144 per dollar
The USD is appreciating against just about every currency!
They keep printing money too ... I wonder how long that can last, so many trillions in debt.
So, I guess I could revisit my hotels to see if their prices are down and then rebook (?) Although for what I have seen demand is pretty high atm
Well rn is spring time so it's really high
The highest exchange rate for the US dollar to Japanese yen in 2014 was 120.982 on August 12, 2014. The lowest exchange rate for 2014 was 100.806 on April 2, 2014
Traveling abroad or importing is a problem, but I think spending it in Japan is better?
The Japanese govt should have enacted good fiscal policy interest rate rises twenty years ago as the rest of the world did. And here you are as somebody who studied economics and fail the say the govt failed their duty of care regarding fiscal policy
Say it sister
I love yr vids keep up the good work
“fiscal policy interest rates”. You’re confused, I think you’re referring to monetary policy.
@@cboy0394 not confused just an economist, Thankyou
I think that rice place is more about supporting local. in usa I know we have started supporting more local or small mom/pop places, not mega business
It was so much lower in 1982 . It was unreal when I was there for a month.
I'd love to come back for a visit to Japan, but flights and accommodation prices are still over my budget. Korea still remains just about affordable.
Should i get my exchanges through my bank if the yen is weak now? Or just wait till i get to japan
Ive heard estimates for it to drop to $1=200en by the end of the year.
Japan to Hawai’i passenger count is only at 60% of pre lock down. Is hurting both Japan and Hawai’i with the yen being that weak.
So many are saying the weak yen helps exports and tourism, but that only benefits a minority in Japan. The vast majority of Japanese locals only feel more pain as imports keep getting more expensive.
For example, while foreign tourists can't believe the great hotel deals they are getting with their strong currencies, more and more Japanese locals cannot afford the higher room rates. A lot of salarymen on business trips to Tokyo cannot stay in the business hotels as before and are forced to find cheaper hotel rooms out in Chiba or Saitama. Many local restaurants are reeling because imported food like beef, olive oil, etc. just keep rising in price.
At that rate I would go to my bank to get yen now. Is there a limit on how much yen you can bring into Japan when on vacation?
I believe 1,000,000 yen or equivalent. It’s on customs form. If you bring over that amount, you need to declare and got some explaining to do.
I made some bets for the Yen when it was about 150:1, hoping things would go up. At this point I am just bleeding money :(
We're heading there in three weeks. Got about $200 worth of yen, but not more, especially with the dollar getting stronger.
🇦🇺 We aussies have finally got our dollar in parody with the Yen ... 100Y = 100c AU (at last 🥳) ... While we still suffer with the US dollar .... US$1 = AU$1.55 ,exactly the same issue the Japanese now have against the US$ 💰 ... for me, best travel C.card is 28-degrees ... & WISE for YEN/cash gives best exchange rate
Actually 325,000 yen is a good salary in most parts of Japan. I live in Niigata and that’s more than enough to live on.
That’s like a normal wage in Shanghai, a developing country
Yes talk about Uber! Totally curious how they are dealing with Uber in a society that is *deeply* taxi-forward.
I haven't been to Japan yet but I usually get foreign currency 💱 at my local foreign exchange office in Downtown LA. On the rarity, I do exchange my USD in the foreign country that I am visiting.
We traveled to Hawaii Christmas 2023 then on to Japan and there was a massive amount of Japanese tourists in Honolulu . Then in Japan it was packed with American tourists.
Great because that means I can come to Japan don't have to lost a wallet or two.
I usually buy yen at home, but 15 years ago I thought the best place to change dollars to yen in Japan was the post office.
I live in Hawaii and I was just there 711 japan ATM is the best for exchange if you are in japan. But here in Hawaii a credit union is the best to change but you typically need to put an order in.
I heard from my money trader said that 160 will be next week…
By year end, it will be 172-180 and stay there for a long time…
5% interest spreads too much… even it close up 3%, Japanese Yen will be weak…
Japan inflation will be up, noodles will be 1800 to 2500 soon…
Sad for Japan and Japanese…
Need review on ramen shop.
Yay! Delicious contaminated seafood from JP gets cheaper.
I normally use my WISE account. Very convenient. I´m going to Tokyo next month.
Tourism spending with yen , I think helps the economy but yeah, not good for Japanese traveling abroad or companies especially who uses US dollars for the business
It's even 112¥ to the Canadian dollar, and we NEVER get over par!
I live in Australia, currency exchange here is super bad, so we dont do it here. Its worse than those quick exchange machines around japan.
Best way is to use cards like Wise, UP, or cards that allows us to withdraw cash from japanese ATM (this is the best method and you can witthdraw what you need and when you need it). Or we go to countries like Vietnam, Singapore, where the currency exchange places are decent. (if we do a stop over that is)
Why did they expect the yen to get stronger when they raised the interest rate to 0? It's still 0. Why would anyone abroad invest in Japan when they get 0? Maybe when they raise the rates to a positive number it'll improve? Who knows?
7-11 either inside the store or in some station like in Shinkansen (JR)
So far the best place to exchange USD for yen that I found in Fukuoka was in the fukuoka Internal terminal airport upstairs on the main check in area. Also in Hakata Station there's a money exchange place near the Shinkansen ticket place. Have the best rates. On April 10th it was 151 and I got 148.60 worth in yen to USD. Miss it lots there. Love Japan. Will be back later this year
You will see 160-170-200 also. People said the same when it was 120!
Yen’s fundamental is just horrible. No interest rate + 260% GDP debt, and running an international trade deficit. The whole situation is dreadful 😂
So if i give in July, should i exchange € into ¥ now ?
Ginza! Nikkei is at all time highs which may make up for 'some' of the difference in salary in Japan for the typical white collar salarymen that typically has some exposure to the market through various corporate/employee/individual plans.
To grow the economy, people need more disposable income to consume. It’s tight for many right now - and oddly, Tokyo’s building so many sky scraper condos for $1M plus! Who’s buying them?! Feels like the bubble could bust …
Yes "But"
you never remember to mention that hotel prices did skyrocket... right now it might be because of sakura and golden week but I never seen the prices this high.
In March even "cheap" dormitory hostel rooms you had to share with 5 or more people were like 100$ a night ... completely insane if compared with 12-28$ I paid for private rooms in 2012-2019
Supply and demand. March had more tourists here than any other month, 3M! Off Golden Route, prices are normal.
The Yen is also cheaper for the Australian $. We are here now and find the buying power is good.
Japanese tourists indeed have a great reputation abroad but this was not always repaid. They would often get crappier rooms and service because they were less likely to complain compared to western or Chinese tourists. And with everything in economics the devaluation of the yen has 2 sides, but overall it's a positive for Japan. They are essentially in a currency devaluation arms race with other (east Asian) economies. Many Japanese companies are considering moving production back home. Japan has the highest number of hotel rooms it has ever had and the number is still rising.
Good time to visit Osaka again.
Too bad the flights coming out of the US are outrageous right now.
The Yen is getting weaker and the Dollar is getting stronger because of demand.
If you were Japanese, and only get .01% interest then you would want to sell the Yen and buy Dollars to invest in Non-risky American investments and get 5%+ easily. Especially if the Yen is getting weaker daily. As more news of new exchange lows keep hitting the news, and as more people discover foreign investing, this will snowball in the Japanese people dumping the Yen to buy anything else. I don't think the Bank of Japan (BOJ) will rapidly raise interest rates. The BOJ has a history of "let us not be too hasty", even if the room is on fire.
I think we will see Yen at 200 to the Dollar.
You aren't going to eat ramen, cos I know you are sticking to your diet. Lol. Am I right? You have great willpower, John! Looking forward to your next live.
I have no complaints. I've been purchasing hobby stuff there that is 70% cheaper than here in the US. It's like free there. Can't wait until it hits the 200yen/USD mark. It's Christmas everyday. Now you can afford to just go to Japan for lunch. Yahoooooooo!
i use money transfers like western union, when traveling into south east Asia. I also have a multi currency account with HSBC. Adrian from Australia. Here in Australia massive drop in japan people come to australia
This too shall pass. Hopefully this will be yet another valley between two peaks.
Doing it at your local bank or local cash exchange places in your own country is a good way to get a good rate. Rather than entering a new country and doing it there.
I was surprised how cheap Osaka was 2 months ago. We hope to go back soon.
Can you recommend a nice luxury hotel which is conveniently located to shopping / eating?