It has never been a better time to buy JPY... (not for nearly two decades anyway).
Quick Contact
29th April 2024
If you’ve been keeping up to speed with the latest forex news, you should know that recently, the AUD to Japanese Yen rate hit a near-10 year peak.
Well, it’s just gotten even better.
As of this week, on April 29th, the market rate for Japanese Yen reached 104.5 JPY to the Aussie dollar – the best it’s been in 17 years!
The last time you could get Japanese yen cheaper than this was way back in July 2007 when it hit 106.6 JPY for the Australian dollar.
Your So Fresh Hits of Summer 2007 album was playing JT’s SexyBack on loop, and Billboard would rate Beyonce’s Irreplaceable, Riri’s Umbrella, and Gwen Stefani’s Sweet Escape as the top hottest songs of the year. Tiny vests and low-rise jeans were the pinnacle of fashion, paired with customised converse scrawled with “I heart Edward Cullen.” As for TV, the top three Box Office movies were Spiderman 3, Shrek the Third, and Transformers… and while it only came 32nd in the list, children everywhere were traumatised by Bridge to Terabithia as well. Another fun fact: In 2007, the world was also revolutionised with the release of the first ever iPhone… (though we all know the coolest kids had the new Motorola Razr2 flip phone in purple - the iPhone was yet to take hold).
The next time JPY to AUD rates would peak was still over a decade ago, in April 2013, when it hit 103.2 Japanese yen to the Australian dollar.
Brace yourself for the throwback, it’s jarring.
This was a year of owl necklaces, galaxy leggings, and FroYo gripped the world by a storm. Thrift Shop was the song of the year, teenage Lorde was THE moment making her debut with Royals, Blurred Lines caused controversy, and everyone was doing the Harlem Shake. You probably now had the iPhone, the latest model being the 5s, and used it almost exclusively to play Flappy Bird. Vine was king, the Doge Meme was born, and we still bought DVDs – Twilight Saga Breaking Dawn Part 2 being the biggest seller of the year (Netflix wouldn’t launch in Australia until 2015). The Word of the Year was Selfie, and shared spaces were on the rise - Uber and Airbnb had launched in Australia in 2012 and were taking root throughout 2013. A wild time, feels like yesterday.
So, unless you want to wait another decade or two for the exchange rate to be this favourable, you should probably exchange today.
Okay cool, the AUD-JPY rate came back stronger than a 90s trend, (thank you Taylor Swift for that lyric) but why does it matter?
Money. Money is why it matters.
To put it into perspective:
As of this week, on April 29, the market rate for 1AUD = 104.5 JPY.
Around the same time last year, on the 1st of May 2023, 1AUD = 90 JPY.
And five years ago in the first week of May 2019? 1AUD = 77 JPY.
So, if a solo traveller typically takes 115,000 yen of holiday spending money (aka travel money) for a week-long mid-range holiday around Japan’s most popular cities (like our cherry blossom itinerary around Tokyo, Kyoto, and Osaka), this is how much it would cost to buy 115,000 yen*:
Today’s market rate: $1100 AUD.
Last year: $1277.
Five years ago: $1494.
The only difference being when you exchanged your money.
Just timing alone and it’d cost nearly $400 less than five years ago, and nearly $200 less than last year!
It's why keeping an eye on foreign exchange rates is so important for the budget conscious traveller.
After all, better to have that extra money go towards the holiday, right?
Even if you aren't planning a Japan trip for a few years, future self will thank past self for being a savvy travel money spender! (And we personally wouldn't want to wait another 17+ years for a rate like this).
It’s also why we have our Rate Move Guarantee*
Because if you know forex like us, it’s constantly changing.
While the AUD to JPY rate is at a near 20-year record best at the moment, there’s no real way to promise it won’t get better.
But if it does miraculously climb even higher in the next couple weeks, you can just head back into store with your receipt and we’ll refund you the difference!
It’s that peace of mind knowing you can’t really lose – it’s the best rate its been in decades, and if it gets better you get it back anyway.
Of course, terms and conditions apply (so don’t come and see us with a receipt from two years ago) and it’s an in-store only offer, so make sure you read the full details here.
DISCLAIMER:
*AUD to JPY rate from today and historical data based on https://www.xe.com and Google Rates, and is based on data from April 29, 2024.
*The rates used in the calculations are based on market rate for consistency across historical data, not retail rates available to the public.
*Retail rates are subject to change. In store and online rates may vary.
*T&Cs apply for Rate Move Guarantee. See full terms and conditions.
This blog is provided for information only and does not take into consideration your objectives, financial situation or needs. You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs. While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you. We are not liable for any loss caused, whether due to negligence or otherwise, arising from use of, or reliance on, the information and/or suggestions contained in this blog.
