For anyone traveling to or working in Japan, there's always a keen interest in whether the price of the Japanese Yen is going up or down today. Specifically, individuals want to know how much Japanese Yen can be exchanged for Vietnamese Dong, and whether it's appreciating or depreciating compared to before. Below, Hallo will analyze this issue for you.
Is the price of the Japanese Yen increasing or decreasing today?
Whether the price of the Japanese Yen is rising or falling today is a question of great interest to interns, students studying abroad, and tourists visiting Japan. Regardless of your purpose for being in Japan, the currency you carry or earn helps you navigate life here.
The price of the Japanese Yen is going up or down today
So, what is the Japanese Yen?
The Japanese Yen is the sole currency unit in Japan, similar to the Dong in Vietnam. The Yen is symbolized by ¥ and has the code JPY. The official currency of Japan, the Yen became the country's official currency during the Meiji Restoration in 1871, when the Japanese government established the Japan Mint.
In Japan, you have to spend Japanese Yen; that's the currency. Just as in Vietnam, where you go to the market and negotiate the price for a bunch of vegetables or a kilogram of meat in Dong, in Japan, you'll be paying for those items in Japanese Yen. This is why students studying abroad, interns, and tourists need to know the exchange rate from Yen (Japan) to Dong (Vietnam) when they come to this country.
How much is 1 Japanese Yen worth in Vietnamese Dong?
The value of 1 Japanese Yen converted into Vietnamese Dong changes every day, every hour, every minute; it's not fixed. Therefore, there isn't a single answer to the question of how much 1 Yen is worth in Vietnamese Dong.
To find out how much 1 Yen (JPY) is worth in Vietnamese Dong (VND), you can use currency conversion tools. There are many websites and software programs that support this operation. Information on the Yen exchange rate is also readily available in bank bulletins or on some online news websites.
To track the Japanese Yen exchange rate, Hallo guides you to visit https://vi.coinmill.com/JPY_VND.html.
For example, on February 5, 2024, at 00:00, 1 Japanese Yen was equal to 159.86 Dong.
You need to understand the exchange rate from Japanese Yen to Vietnamese Dong to make proper spending plans.
The cost of living in Japan is significantly higher than in Vietnam. For instance, currently, the price of pork in Vietnam is around 115,000 Dong/kg, but in Japan, it's about 1,500 Yen/kg (equivalent to 240,000 Dong when converted to Vietnamese Dong). Thus, the Japanese Yen holds more value than the Vietnamese Dong. This is why thousands of Vietnamese people choose to work in Japan, as the salary earned in Japan when converted to Vietnamese Dong can be significantly higher. With just 3-5 years of work in Japan, Vietnamese workers can accumulate enough money to build a house, buy a car, or save capital for business ventures.
What is the highest value the Japanese Yen has ever reached?
Currently, the price of the Japanese Yen is approximately 160 Vietnamese Dong. Though it holds more value than the Vietnamese Dong, this is not its highest value. In 2020, the Japanese Yen saw a sharp increase in value against the US Dollar, reaching its highest point in history. Specifically, on March 9, 2020, 1 Japanese Yen was worth 221 Vietnamese Dong, almost one and a half times its current value.
However, in recent years, the Japanese Yen has tended to weaken against the US Dollar, resulting in a lower value when converted to Vietnamese Dong. This is due to the Japanese government adjusting domestic monetary policies.
A weakening Japanese Yen can be disadvantageous for Vietnamese workers working in Japan, as the amount of money they can bring back to Vietnam may not be as much as before. However, this can be advantageous for short-term tourists in Japan, as they will spend less Vietnamese Dong when converting to Japanese Yen for expenses.
The cost of living in Japan is relatively high.
How much is 1 Man in Yen?
The Yen is the smallest and only currency unit in Japan. Besides Yen, Japanese people also use the currency units of Man and Sen.
1 Man = 10,000 Yen.
1 Sen = 1,000 Yen.
The units of Man and Sen are also widely used in Japanese currency for their convenience.
How much is 10,000 Japanese Yen in Vietnamese Dong?
How much is 10,000 Japanese Yen, or 1 Man, in Vietnamese Dong? Based on the exchange rate on February 5, 2024, 10,000 Japanese Yen would be equal to 1,598,649 Vietnamese Dong.
How much is 1,000 Japanese Yen in Vietnamese Dong?
How much is 1,000 Japanese Yen, or 1 Sen, in Vietnamese Dong? Based on the exchange rate on February 5, 2024, 1,000 Japanese Yen would be equal to 159,864 Vietnamese Dong.
In Japan, the basic wage for workers ranges from 1,000-1,200 Yen per hour. Working 8 hours a day, Vietnamese workers can earn up to 9,600 Yen. Knowing the Japanese Yen exchange rate helps you plan your spending properly in Japan. For example, when the Japanese Yen depreciates, you should spend less to bring back more income to Vietnam. When the Japanese Yen appreciates, you should work overtime to earn the highest monthly salary.
Below are the prices of some essential foods in Japan:
The future of the Japanese Yen
The future of the Japanese Yen is a concern for those who want to work abroad in Japan. The cost of going to work in Japan is very high, and the goal of Vietnamese workers going to Japan is to accumulate capital in the shortest time possible compared to working for wages at home. Therefore, a stronger Japanese Yen (with a higher value compared to the Vietnamese Dong) will provide an advantage to overseas workers.
In recent years, the Japanese Yen has weakened due to the impact of Covid-19 and the Japanese government's monetary policy adjustments. However, in 2024, experts predict that the Japanese Yen will strengthen. Bloomberg conducted a survey showing that the Yen will appreciate in value in the coming years as the Bank of Japan (BOJ) ends its negative interest rate policy and central banks around the world transition to interest rate cuts.
Keeping an eye on whether the Japanese Yen's price is increasing or decreasing is something Vietnamese workers in Japan should do every day to make the most efficient spending and work plans. The Yen is expected to recover and increase significantly in value in 2024, which is a big motivation for workers who want to work abroad in Japan. Contact Hallo if you're interested in working abroad in Japan or visiting Japan.
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