The USD/JPY exchange rate fell to 146.5600 on July 23, 2025, down 0.14% from the previous session. Over the past month, the Japanese Yen has weakened 1.12%, but it's up by 4.78% over the last 12 months. Japanese Yen - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Japanese Yen to U.S. Dollar Spot Exchange Rate (EXJPUS) from Jan 1971 to May 2025 about Japan, exchange rate, currency, rate, and USA.

Prices for USDJPY US Dollar Japanese Yen including live quotes, historical charts and news. USDJPY US Dollar Japanese Yen was last updated by Trading Economics this July 22 of 2025.

Graph and download economic data for Japanese Yen to U.S. Dollar Spot Exchange Rate (AEXJPUS) from 1971 to 2024 about Japan, exchange rate, currency, rate, and USA.

United States Spot Exchange Rate: Japanese Yen to US Dollar data was reported at 112.722 JPY/USD in Oct 2018. This records an increase from the previous number of 112.097 JPY/USD for Sep 2018. United States Spot Exchange Rate: Japanese Yen to US Dollar data is updated monthly, averaging 123.103 JPY/USD from Jan 1971 (Median) to Oct 2018, with 574 observations. The data reached an all-time high of 358.020 JPY/USD in Jan 1971 and a record low of 76.643 JPY/USD in Oct 2011. United States Spot Exchange Rate: Japanese Yen to US Dollar data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.M015: Spot Exchange Rate.

Graph and download economic data for Japanese Yen to U.S. Dollar Spot Exchange Rate from 1971-01-04 to 2025-07-18 about Japan, exchange rate, currency, rate, and USA.

Japan Foreign Currency Denominated Assets: United States data was reported at 18,067.979 JPY bn in Sep 2018. This records an increase from the previous number of 17,991.148 JPY bn for Aug 2018. Japan Foreign Currency Denominated Assets: United States data is updated monthly, averaging 8,670.300 JPY bn from Dec 1994 (Median) to Sep 2018, with 286 observations. The data reached an all-time high of 18,067.979 JPY bn in Sep 2018 and a record low of 1,151.826 JPY bn in Apr 1995. Japan Foreign Currency Denominated Assets: United States data remains active status in CEIC and is reported by The Investment Trusts Association, Japan. The data is categorized under Global Database’s Japan – Table JP.Z030: Publicly Offered Investment Trust: Foreign Currency Denominated Assets.

The amount of Japanese yen that could be bought with USD kept increasing since September 2020. As of July 18, 2025, the exchange rate reached approximately 148.44 Japanese yen. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different from an annual measure at a point, which reflects concrete values as of the end of the year.

In 2023, Japan recorded a surplus in goods and services trade with the United States valued at around **** trillion Japanese yen. The Japanese trade balance with the U.S. remained positive in recent years, with a decade-high reported in 2023.

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Foreign Exchange Market Size 2025-2029

The foreign exchange market size is forecast to increase by USD 582 billion, at a CAGR of 10.6% between 2024 and 2029.

The Foreign Exchange Market is segmented by type (reporting dealers, financial institutions, non-financial customers), trade finance instruments (currency swaps, outright forward and FX swaps, FX options), trading platforms (electronic trading, over-the-counter (OTC), mobile trading), and geography (North America: US, Canada; Europe: Germany, Switzerland, UK; Middle East and Africa: UAE; APAC: China, India, Japan; South America: Brazil; Rest of World). This segmentation reflects the market's global dynamics, driven by institutional trading, increasing digital adoption through electronic trading and mobile trading, and regional economic activities, with APAC markets like India and China showing significant growth alongside traditional hubs like the US and UK.
The market is experiencing significant shifts driven by the escalating trends of urbanization and digitalization. These forces are creating 24x7 trading opportunities, enabling greater accessibility and convenience for market participants. However, the market's dynamics are not without challenges. The uncertainty of future exchange rates poses a formidable obstacle for businesses and investors alike, necessitating robust risk management strategies. As urbanization continues to expand and digital technologies reshape the trading landscape, market players must adapt to remain competitive. One significant trend is the increasing use of money transfer agencies, venture capital investments, and mutual funds in foreign exchange transactions. Companies seeking to capitalize on these opportunities must navigate the challenges effectively, ensuring they stay abreast of exchange rate fluctuations and implement agile strategies to mitigate risk.
The ability to adapt and respond to these market shifts will be crucial for success in the evolving market.

What will be the Size of the Foreign Exchange Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic and intricate realm of the market, entities such as algorithmic trading, order book, order management systems, and liquidity risk intertwine, shaping the ever-evolving market landscape. The market's continuous unfolding is characterized by the integration of various components, including sentiment analysis, Fibonacci retracement, mobile trading, and good-for-the-day orders. Market activities are influenced by factors like political stability, monetary policy, and market liquidity, which in turn impact economic growth and trade settlement. Technical analysis, with its focus on chart patterns and moving averages, plays a crucial role in informing trading decisions. The market's complexity is further amplified by the presence of entities like credit risk, counterparty risk, and operational risk.

Central bank intervention, order execution, clearing and settlement, and trade confirmation are essential components of the market's infrastructure, ensuring a seamless exchange of currencies. Geopolitical risk, currency correlation, and inflation rates contribute to currency volatility, necessitating hedging strategies and risk management. Market risk, interest rate differentials, and commodity currencies influence trading strategies, while cross-border payments and brokerage services facilitate international trade. The ongoing evolution of the market is marked by the emergence of advanced trading platforms, automated trading, and real-time data feeds, enabling traders to make informed decisions in an increasingly interconnected and complex global economy.

How is this Foreign Exchange Industry segmented?

The foreign exchange industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Reporting dealers
  Financial institutions
  Non-financial customers


Trade Finance Instruments

  Currency swaps
  Outright forward and FX swaps
  FX options


Trading Platforms

  Electronic Trading
  Over-the-Counter (OTC)
  Mobile Trading


Geography

  North America

    US
    Canada


  Europe

    Germany
    Switzerland
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The reporting dealers segment is estimated to witness significant growth during the forecast period.

The market is a dynamic and complex ecosystem where various entities interplay to manage currency risks and facilitate international trade. Reporting dealers, as key participants,

Key information about Japan Exchange Rate against USD

• Japan Exchange Rate against USD averaged 137.053 (USD/JPY) in May 2023, compared with 133.475 USD/JPY in the previous month.
• Japan Exchange Rate against USD data is updated monthly, available from Jan 1957 to May 2023.
• The data reached an all-time high of 360.000 in Dec 1970 and a record low of 76.643 in Oct 2011.

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.075 % pa in May 2023.
• Its Long Term Interest Rate (Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End) was reported at 0.390 % pa in Apr 2023.
• The cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.100 % pa in May 2023.

Japan JP: Purchasing Power Parity: National Currency per USD data was reported at 94.927 USD/JPY in Dec 2026. This records an increase from the previous number of 94.884 USD/JPY for Sep 2026. Japan JP: Purchasing Power Parity: National Currency per USD data is updated quarterly, averaging 177.455 USD/JPY from Mar 1960 (Median) to Dec 2026, with 268 observations. The data reached an all-time high of 272.793 USD/JPY in Sep 1977 and a record low of 93.912 USD/JPY in Sep 2022. Japan JP: Purchasing Power Parity: National Currency per USD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Exchange Rate: Forecast: OECD Member: Quarterly. PPP - Purchasing power parity, national currency per USD

Japan JP: Portfolio Investment Assets: Debt Securities: Denominated in US Dollars data was reported at 1,336.418 USD bn in Jun 2024. This records an increase from the previous number of 1,334.881 USD bn for Dec 2023. Japan JP: Portfolio Investment Assets: Debt Securities: Denominated in US Dollars data is updated semiannually, averaging 1,167.985 USD bn from Dec 2001 (Median) to Jun 2024, with 35 observations. The data reached an all-time high of 1,548.788 USD bn in Dec 2020 and a record low of 429.502 USD bn in Dec 2001. Japan JP: Portfolio Investment Assets: Debt Securities: Denominated in US Dollars data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Japan – Table JP.IMF.CPIS: BPM6: Portfolio Investment Assets: by Currency: Bi-annual.

Japan Foreign Currency Denominated Assets: Stocks: United States data was reported at 6,153.374 JPY bn in Jun 2018. This records an increase from the previous number of 6,024.589 JPY bn for May 2018. Japan Foreign Currency Denominated Assets: Stocks: United States data is updated monthly, averaging 1,283.606 JPY bn from Dec 1994 (Median) to Jun 2018, with 283 observations. The data reached an all-time high of 6,153.374 JPY bn in Jun 2018 and a record low of 145.927 JPY bn in Jun 1995. Japan Foreign Currency Denominated Assets: Stocks: United States data remains active status in CEIC and is reported by The Investment Trusts Association, Japan. The data is categorized under Global Database’s Japan – Table JP.Z030: Publicly Offered Investment Trust: Foreign Currency Denominated Assets.

A graphic that displays the dollar performance against other currencies reveals that economic developments had mixed results on currency exchanges. The third quarter of 2023 marked a period of disinflation in the euro area, while China's projected growth was projected to go up. The United States economy was said to have a relatively strong performance in Q3 2023, although growing capital market interest rate and the resumption of student loan repayments might dampen this growth at the end of 2023. A relatively weak Japanese yen Q3 2023 saw pressure from investors towards Japanese authorities on how they would respond to the situation surrounding the Japanese yen. The USD/JPY rate was close to ***, whereas analysts suspected it should be around ** given the country's purchase power parity. The main reason for this disparity is said to be the differences in central bank interest rates between the United States, the euro area, and Japan. Any future aggressive changes from, especially the U.S. Fed might lower those differences. Financial markets responded somewhat disappoint when Japan did not announce major plans to tackle the situation. Potential rent decreases in 2024 Central bank rates peak in 2023, although it is expected that some of these will decline in early 2024. That said, analysts expect overall policies will remain restrictive. For example, the Bank of England's interest rate remained unchanged at **** percent in Q3 2023. It is believed the United Kingdom's central bank will ease its interest rate in 2024 but less than either the U.S. Fed or the European Central Bank. This should be a positive development for the pound compared to either the euro or the dollar.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Japan PIA: Total: Disposition: U.S. Dollar data was reported at 14,956.029 JPY bn in May 2018. This records an increase from the previous number of 11,977.539 JPY bn for Apr 2018. Japan PIA: Total: Disposition: U.S. Dollar data is updated monthly, averaging 14,284.050 JPY bn from Jan 2014 (Median) to May 2018, with 53 observations. The data reached an all-time high of 19,139.957 JPY bn in Jan 2016 and a record low of 8,658.598 JPY bn in Feb 2014. Japan PIA: Total: Disposition: U.S. Dollar data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.O018: Portfolio Investment Assets (PIA) by Quotation Currency: BPM6.

Content

More details about each file are in the individual file descriptions.

Context

This is a dataset from the Federal Reserve hosted by the Federal Reserve Economic Database (FRED). FRED has a data platform found here and they update their information according to the frequency that the data updates. Explore the Federal Reserve using Kaggle and all of the data sources available through the Federal Reserve organization page!

• Update Frequency: This dataset is updated daily.

Acknowledgements

This dataset is maintained using FRED's API and Kaggle's API.

Cover photo by Jonny McNee on Unsplash
Unsplash Images are distributed under a unique Unsplash License.

The euro and U.S. dollar made up more than ***** of 10 SWIFT payments worldwide in 2025, outperforming many other currencies. This is according to a monthly report meant to track the market share of China's yuan renminbi within the international bank transfer system SWIFT. Although China holds the largest forex reserves in the world, the yuan ranked as the ******-used currency in international payments. The figures concern customer-initiated and institutional payments and exclude trade. Discussions on the potential weakening role of the U.S. dollar especially touch world trade and forex. For example, the share of the USD in forex reserves declined visibly against the euro and Japanese yen in 2024. What sparked this de-dollarization trend, and will it continue? Trade sanctions and de-dollarization De-dollarization in 2024 is mentioned mostly alongside trade and the BRICS countries - an informal name given to Brazil, Russia, India, China, and South Africa. The combined GDP of BRICS is about ** percent of the world's economy. After the start of the Ukraine war and Russia received economic sanctions, the BRICS slowly evolved into a trading bloc. The group increasingly wanted its own currency to settle payments within the trade bloc, to avoid using the U.S. dollar. In August 2024, BRICS will gather in South Africa to discuss the creation of such a new joint currency. Additionally, ** countries - including Argentina, Algeria, Egypt, Saudi Arabia, Turkey, and Yemen - expressed interest in joining the BRICS group. CBDC, or projects into a digital payment settlement A factor of future uncertainty for the U.S. dollar is how central bank digital currencies (CBDC) develop in emerging countries. Several projects exist between individual countries that specifically target cross-border interbank payments. A cooperation between Thailand and Hong Kong, Inthanon-Lionrock, ranks as the most advanced of these projects. CBDC does not require the U.S. dollar to function. Tangible such as commodities or gold can back them. The value of transactions processed with CBDC is to grow by ******* percent between 2024 and 2030.

This Dataset contains Yearly Annual Average Exchange Rates of the Indian Rupee Vis-a-Vis the SDR, US Dollar, Pound Sterling, Deutsche Mark/Euro and Japanese Yen

Notes: 1) The exchange rate for Japanese Yen is in Rupees per 100 Yen. 2) Data from 1982 to 1992 are based on official exchange rates. 3) Data from 1993 onwards are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. 4) Data are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates till April 2012. RBI reference rates are used w.e. f. May 2012. 5) The Euro replaced the Deutsche Mark w.e.f. January 1, 1999. 6)Financial Benchmarks India Private Limited (FBIL) commenced dissemination of reference rates w.e.f July 10, 2018