Forecasts for the Japanese Yen (USD JPY) changes from bank to bank and from month to month. This article takes a look at the average USD JPY forecast and how it may impact your money transfer timings or holiday travel decisions.

 

The Forecast for the Yen in 2018

The Japanese Yen is set to firm up against the US dollar (USD JPY) during 2018. Most bank analysts are expecting the USD JPY to move towards 100.00 from current levels of 108.94.

Transferring Money Overseas

If you’re looking to transfer money abroad from Japan or send money into Japan, timing can be really important. A lot of it depends on which currency you want to convert to. In general, a weaker Yen relative to the destination currency means it will be more expensive to transfer money overseas, while a stronger Yen relative to destination currency will make it cheaper.

Check out the forecasts below for the average exchange cross rates expected in 2018.

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EUR JPY

Major banks agree that in 2018, the EUR JPY will move in a similar range as 2017. Most are expecting the cross rate to trade between 133.00 and 138.00 and remain steady throughout the year.

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AUD JPY

The AUD JPY exchange rate is expected to remain flat around the 85.00 level near term according to major banks. In 2018, it looks like most banks expect the AUD JPY rate to move between a 85.00-90.00 range, similar to 2017.

 

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NZD JPY

The NZD JPY rate is highly volatile, but bank analysts generally expect the NZD JPY to move higher in the short-term. For the rest of the year, bank analysts predict the NZD JPY will move slightly lower towards a 70.00-80.00 range, from 75.00-85.00 currently.

 


 

How to Find the Cheapest Way to Transfer Money Overseas

Compare The Total Cost

The total cost of the transfer comes down to 2 things:

Money transfer fees

1. Transfer Fees

Every Australian bank and money transfer company will charge you a different fee to send money overseas. Usually it’s between $10 and $32.

Exchange rate margin fees

2. Exchange Rate Margin

There is no “standard” exchange rate. Each bank will offer you a different exchange rate based on the currency you want to send overseas and the amount you need to send.

 

Provider Exchange
Rate
Transfer
Fee
Transfer
Time
Total (AUD) Rates last updated August 15 2018
WorldFirstRead Review 79.3667 $0.00 2-3 Days $126.00Lowest Cost Option Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 79.3667 will cost you $126.00 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review

Pros

  • Low fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments

Cons

  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available

TorFXRead Review 79.3667 $0.00 2-3 Days $126.00$0.00 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 79.3667 will cost you $126.00 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.

Pros

  • No transfer fees
  • Highly competitive exchange rates
  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options

Cons

  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better

HIFXRead Review 79.3667 $0.00 2-3 Days $126.00$0.00 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 79.3667 will cost you $126.00 with no fees.

About HiFX

HiFX are one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired Xe.com. They are particularly useful for individuals doing regular transfers overseas. HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment. Locally, HiFX have Australian offices in Sydney, Melbourne and are expanding to the remaining capital cities. Click here to read the full review

Pros

  • Fantastic bank - beating exchange rates
  • Low fees for transactions less than $10, 000
  • No fees for transactions of $10, 000 or more
  • High security transfers regulated by ASIC and FMA
  • Fast and easy for personal or business accounts

Cons

  • Only electronic bank transfers accepted
  • Limited exotic currencies
ANZRead Review 79.2200 $0.00 1-2 Days $126.23$0.23 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 79.2200 will cost you $126.23 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.

Pros:

  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking

Cons

  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available

OFXRead Review 78.5002 $0.00 1-3 Days $127.39$1.39 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 78.5002 will cost you $127.39 with no fees.

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.

Pros

  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service

Cons

  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers

TransferwiseRead Review 79.8458 $3.75 1-2 Days $128.99$2.99 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 79.8458 will cost you $128.99 which includes a fee of ¥3.75

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review

Pros

  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products

Cons

  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

WestpacRead Review 78.4300 $10.00 1-2 Days $137.50$11.50 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 78.4300 will cost you $137.50 which includes a fee of ¥10.00
Westpac is one of the big four banks in Australia offers speedy and secure transfers.

Pros:

  • Fast payment processing times
  • Secure transfers

Cons

  • Must be Westpac account holder
  • $20 fee for transfers via Internet or phone banking
  • $32 fee for transfers at an ANZ branch
  • Poor exchange rates
Commonwealth BankRead Review 77.3700 $12.00 1-2 Days $141.25$15.25 more expensive Go to site Read Review
So, sending JPY 10,000 to Japan at an exchange rate of 77.3700 will cost you $141.25 which includes a fee of ¥12.00
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.

Pros:

  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions

Cons

  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates


 


 

How does a rising Yen affect me?

If you are an expat living in Japan you might be feeling less happy the Yen is going to go up next year, but it really depends if you’re being paid in local or foreign currency. If you’re being paid in foreign currency and spending your money locally, you might not get as good a rate next year as the Yen gets stronger.

On the other hand, if you’re being paid in Japanese Yen and are transferring your money overseas, then you might get a better rate, but it really depends on which destination you’re sending your money to. Check out our currency calculator for the best rates from different money transfer providers.

Travellers going on holiday to Japan won’t be able to benefit from the Yen going higher, but it really depends on what your home currency is doing.

For example, if you’re from New Zealand, you won’t get as much Japanese Yen, because the NZD JPY will be dragged down by a weaker New Zealand dollar. Meanwhile, tourists from Australia will be able to benefit from a more favourable exchange rate with the Australian dollar probably rising against the Yen next year.

What are the key influences on the Yen?

1. Japanese Economy

The Japanese Economy has expanded since 2012 and will continue in 2018. This should support the Japanese Yen. However, local businesses are unsure whether the gradual improvements will be long-lasting and greater uncertainty can pressure the Yen.

2. Politics

Japanese politics has a big influence on the Yen. The Yen goes up when the elected government implements policies that help improve the economy. With Prime Minister Shinzo Abe cruising into victory in the unexpected October election and a continuation in the same economic policies which appear to be working, the Yen will likely go up.

3. Other Currencies

The US dollar (USD) can significantly influence the Yen. Generally, when the USD gets stronger, the Yen is relatively weaker and vice versa. The Yen is also seen as a ‘safe currency’, which means it will move up against other ‘higher risk’ currencies when there is more uncertainty over global economic growth.

General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.


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Helping You Save Money on Currency

Buying travel money or transferring money overseas can be expensive and confusing. So how do you make the best choice and get the most out of your money?

An easy way is to use a comparison table for either international money transfers or currency exchange. These tables list and compare the banks with other large foreign exchange companies.

We’ve also put together tons of helpful videosguides and reviews that will help you make the right decision. You can work out a cheaper way of converting currency while still keeping your money safe.