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Japan Exchange Rate

Japan Exchange Rate

Exchange Rate in Japan

The Japanese yen fluctuated against the US dollar from 2013 to 2022. Early in the decade, the yen weakened significantly due to Japan's aggressive monetary easing policies aimed at combating deflation. However, the yen saw periods of strengthening, particularly during times of global economic uncertainty, reflecting its status as a safe-haven currency. The yen weakened substantially in 2022, reflecting rate hikes by the Fed.

The exchange rate ended 2022 at JPY 132 per USD, compared to the end-2021 value of JPY 115 per USD and the figure a decade earlier of JPY 105 per USD. For more exchange rate information, visit our dedicated page.

Japan Exchange Rate Chart

Note: This chart displays Exchange Rate (vs USD) for Japan from 2014 to 2023.
Source: MSCI Inc.

Japan Exchange Rate Data

2018 2019 2020 2021 2022
Exchange Rate (JPY per USD, eop) 110 109 103 115 132
Exchange Rate (JPY per USD, aop) 110 109 107 110 132
Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Japanese exchange rate projections for the next ten years from a panel of 37 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Japanese exchange rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Japanese exchange rate projections.

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