The Japanese yen exchange rate recently hit a 6-year high, so now would be a great time to buy
Right now there are 17 currency suppliers in the UK who are selling Japanese yen online, with exchange rates ranging from 142.492 (Manor FX) to 154.06 (Travel FX). You can see the full list on our Japense yen comparison page.
The good news if you're heading to Japan soon is the exchange rate hasn't been this high since February 2016. In fact, you'd have to go all the way back to 7 Feb 2016 beat the high of 164.595 we recorded on 19 April 2022.
The small day-to-day fluctuations in exchange rates won't make a huge difference to the amount of Japanese yen you'll end up with if you wait an extra few weeks before buying. The exchange rate trend is more important, and as I've just pointed out the yen is currently at a multi-year high so there isn't much upside to waiting longer for a better deal.
According to technical analysis by walletinvestor.com, the Japanese yen interbank rate is predicted to hit 167 by the end of this year (the JPY interbank rate is currently 157), however the interbank rate is only available to banks and the actual exchange rate you'd get from a currency supplier will be a few percent lower - not far from where it is today.
There can be a significant difference between buying Japanese yen online and buying in the high street, even among currency suppliers that offer both options.
You should always check to see if you can buy or reserve your currency online first, don't just turn up on the day and buy over the counter or you may be given a much lower rate.
From best to worst, the best places to buy Japanese yen are: