If you’re planning on making a switch from SGD to Yen, you’ve come to the right page. Find out what’s the current JPY rate and which multi-currency card will give you the best exchange rate when it comes to spending in Japan!

Previously on 28 April 2024, the Japanese yen hit an all-time low against the Singapore dollar on Google at S$1 to 116.21 yen. As of today, 27 June 2024, at the time of writing, the current rate is S$1 to 118.19 yen on Google and 118.2 yen on YouTrip! So, what does this mean for you? Simply put, if you’re wondering when’s the right time to convert your SGD to yen, here’s a PSA for you — the time is now!

So whether you’re seizing the moment to make the most of every yen by locking in a favourable exchange rate before it bounces back — or just planning for a future trip to Japan to bask in all those good vibes and indulge in fresh sashimi, this guide is for you!

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SGD To JPY: How’s It Going?

Fig A:

Image credits: Trading Economics

Fig B:

Image credits: Monetary Authority of Singapore

First of all, let’s break down both Fig A and Fig B. Fig A describes the general journey of the Japanese yen across the year up to June 2024, showing a dip on 27 June at 0.08456JPY — the lowest it has ever been!

Similarly, in Fig B, you’re looking at the monthly average of 100 units of Japanese yen per SGD. While June’s average rates have yet to be released, you can clearly see that the average monthly yen rate has been steadily decreasing against the SGD from January 2024 (0.9076) to May 2024 (0.8614).

As of today, 27 June 2024, the current rate at the time of writing is S$1 to 118.19 JPY, but why is that?

SGD To Yen Guide: Capitalising On The Japanese Yen — Check out our month-by-month guide on the best time to visit Japan

SGD to Yen: Why Is The JPY Falling? 

Image credits: Google

According to The Japan News, the Bank of Japan (BOJ) declared in March that it would intensify its negative interest rates policy and discontinue its yield curve control (YCC) measures. The Japanese yen has fallen to its lowest level against the USD since 1990 and has been one of the worst performers this year among major currencies — falling more than 6%. On 28 April 2024, the JPY was at 158.24 against the USD and 116.21 yen against the SGD — setting a new all-time-low record.

According to Daily FX, higher-than-expected U.S. inflation numbers have boosted the U.S. dollar across the board. This caused the yen to weaken, creating a significant interest rate gap between the U.S. and Japan, and weakening the yen’s appeal to investors. As such, the future trajectory of the JPY will largely hinge on future decisions affecting this interest rate gap.

Although future plans regarding the interest rates in Japan are yet to be known, Kazuo Ueda, the governor of the Bank of Japan, has hinted at a cautious approach to raise interest rates which could further weaken the yen against the dollar.

Whatever the case is, there’s one thing we’re certain of — it’s prime time to pack your bags and start planning your dream trip to Japan this holiday season while you can still get the best bang for your buck!

SGD To Yen Guide: Capitalising On The Japanese Yen — Check out this Japan cherry blossom forecast 2024

SGD To Yen: Which Multi-Currency Card Has The Best Exchange Rate For Spending In Japan?

At the time of writing, the current exchange rate is S$1 to 118.19 yen on Google. But how do the best multi-currency cards in Singapore compare to Google’s JPY rate when exchanging your SGD to yen?

Image credits: Google

Let’s start with looking at one of the most popular souvenirs in Japan — the Tokyo Banana. According to the official site, one box of Original Tokyo Banana (12 pieces) costs 1,782 yen. Based on Google’s rate that would cost around ~S$15.07. YouTrip Vs Revolut Vs Wise Vs Amaze Vs Trust Bank — check out the table below for how much you would get when converting 1 SGD to JPY for each multi-currency card. *Taken as of 20 June 2024

	YouTrip	Revolut	Wise	Trust Bank
Able to lock in currencies in-app?	✅	✅	✅	❌
Annual Fees	No fees	Standard Plan: Free  Premium Plan: S$9.99/month  Metal Plan: S$19.99/month	No fees	No fees 👉 You can apply for a credit card only if you’re between 21 to 55 years old 👉 Minimum annual income for Singaporeans or PRs: S$30,000 👉 Minimum annual income for foreigners with a valid work pass: S$60,000
Foreign Transaction Fees	No fees	✅ Fees during Foreign Exchange Market Hours for Standard Plan Customers: No fee for all currencies  ✅ Fees outside Foreign Exchange Market Hours for Standard Plan Customers: 1% fee for all currencies	✅ From 0.43% with a min. fee of S$0.01 (fee varies by currency)	No fees 👉 Do take note of the S$100 late payment charge & interest accrued
Current JPY Exchange Rates as of 24 Jun 2024	1 SGD = 118.2 yen	1 SGD = 117.8 yen	1 SGD = 117.6 yen	1 SGD = 117.2 yen
Total cost of one box of Original Tokyo Banana (12 pieces) Google’s Rate: 👉 1 SGD = 118.19 yen 👉 Price = 1,782 yen (~S$15.07)	~S$15.07	~S$15.12	~S$15.15	~S$15.20

While the difference in price may seem small now, a few cents can go a long way and rack up to a huge amount when it comes to spending in Japan — especially if you’re aiming to buy pricier items like a brand-new Dior bag, Le Labo perfume, or even some SK-II skincare products. That’s why it’s absolutely essential to bring a multi-currency card with the best rates along with you on your travels. Especially if you’re looking to lock in and make the switch from SGD to yen before your trip!

Travelling to Japan soon? Check out how you can exchange your SGD to yen in your YouTrip app now for the best JPY rates all day👇

SGD To Yen Guide: Capitalising On The Japanese Yen — For a more detailed comparison of each multi-currency card’s features and fees, click here

So How Do I Use YouTrip To Lock In The Best Japanese Yen Rates?

In a nutshell, YouTrip works to “unpinch” your wallet – you don’t need to worry about losing money from exchange rate margins. 

✅  Simply top up the desired amount of SGD you wish to change to JPY in your mobile wallet

✅  Tap on the exchange icon in your YouTrip app and YouTrip will do all the work with Smart Exchange™

✅  You’ll see 10 major currencies available for real-time currency exchange and conversion, but you can go ahead and pick out the Japanese yen

SGD To Yen Guide: Capitalising On The Japanese Yen — Here’s a 14-day Japan itinerary around Tokyo, Kyoto and Osaka

🇯🇵 More On Japan:

Pre-Planning:

• How To Easily Top Up Your Virtual Suica Card In Japan Via Apple Pay With YouTrip
• Flower Festivals In Japan To Look Forward To In 2024
• Best Time To Visit Japan 2024: Your Month-By-Month Guide
• The Ultimate Universal Studios Japan (USJ) Guide 2023
• The Best Japanese Onsens And Ryokans To Stay At In Japan 2023
• YouTrip’s Guide To Japanese Konbinis
• How To Get Ready For Your Japan Trip

Itineraries:

• The Ultimate 14-Day Japan Itinerary: Tokyo, Kyoto, Osaka Guide
• Japan Cherry Blossom Forecast 2024: When And Where To Spot Sakura
• The Best Japan Autumn Destinations To Visit 2023
• 9 Theme Parks To Visit In Japan 2023
• YouTrip’s Japan Bucket List: Best Things To Do In Kyoto & Osaka 2023
• YouTrip’s Japan Bucket List: Best Things To Do In Tokyo 2023
• YouTrip’s Guide To Iconic Anime Destinations To Visit In Japan
• YouTrip’s Guide To Visiting Japan’s Rabbit Island 2023
• Your Travel Bucket List: Best Things To Do In Hokkaido, Japan 2022
• A Not-So-Ordinary Guide To Japan
• Japan’s Reopened For Travel: Hot Spots To Visit
• YouTrip’s Japan Guide To The Best Late-Night Tokyo Diners 2022
• YouTrip’s Japan Road Trip Guide To Takayama 
• YouTrip’s Tokyo Food Guide: What To Eat In Tokyo Japan 2022

JR Pass:

• 8 JR Pass Budget Alternatives 2024
• JR Pass 101: Everything You Need To Know
• Is The JR Pass Still Worth It After The Price Increase?
• Prices For Japan’s Regional JR Passes Are Set To Increase From 1 October 2023 Onwards

Japan Savings Guide:

• 10 Ways To Save Money While Visiting Japan 2023
• 10 Must-Buy Items At Don Quijote In Japan 2024
• YouTrip’s Ultimate Saving Guide: Unveiling Brands That Are Cheaper In Japan Than Back Home

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SGD To Yen: Secure The Best Exchange Rates In Japan With YouTrip!

And just like that, you’ve locked in the best JPY exchange rates! Head over to your YouTrip app and make the switch from SGD to yen now! The same Wholesale Exchange Rates will be utilised when you exchange currency in-app. Moreover, exchanging currencies in over 150+ countries on YouTrip also comes with zero fees and markup!

As Singapore’s favourite multi-currency wallet, we aim to get those pesky fees out of the way and help you save on your travels. With the best foreign exchange rates, no longer will you have to deal with those long queues at money changers! So if you’re looking for a go-to travel card, sign up for your complimentary YouTrip card today with <YTBLOG5> and get FREE S$5 in your account! For more great tips and articles like this, join our Telegram (@YouTripSG) and subscribe to our free weekly newsletter here or down below.  

And while you’re at it, why not join the conversation with thousands of #YouTroopers in our very own Community Telegram Group @YouTripSquad? Get tips and tricks to everything YouTrip including exclusive invites to exciting events and experiences, & be part of the #YouTripSquad! 💜

Stay safe, and happy travels!

Related Articles:

Japan Cherry Blossom Forecast 2024: When And Where To Spot Sakura
YouTrip’s Guide To Osaka 2022: Best Things To Eat & Do
Fluctuating Exchange Rates and How to Take Advantage
YouTrip’s Guide To The Best Late-Night Tokyo Diners 2022

_{*All currency conversion rates are accurate to the nearest 10 cents on 14 July 2022 SGT 10.33 AM. Bank card prices are calculated based on 3.25% foreign currency transaction fee.}