JapanForum.com - Exchanging for Yen

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Exchanging for Yen

Is it better to exchange money at a bank before you go to Japan or when you are actually in Japan at the airport or something? (I'm in New Zealand if thats relevant)

At first I thought it would be better to exchange it at a local bank, but I remembered that there is a cost when getting foreign money, but no fee for changing it back because the bank wants more foreign money, so would that be the same for japan?

I don't know anything about that, but my logic tells me that there's no difference with the exchange rates no matter where you are in the world, unless someone is blatantly trying to rip you off. Just change your money before you go. Besides, even if you're fluent in Japanese, it's always easier to speak to a banker in your own language right? ¦3

Edit: Oh, the thing about the fee for exchange. If it costs nothing to exchange money in Japan, then by all means, don't let yourself get charged for that. Then, as you said, just change it back free of charge when you get back.

Quote:

Originally Posted by Tenchu (Post 630131)

Well, I would suggest change it at the foreign country is better, esp. Asian ones are better.

I have done a lot of traveling and it is better to sell currency rather than buy in the most of cases.

I would change a small amount at the air port and the larger amount in the big city (you will not have to look far to find an exchange location).

I would take Tenchu's advice, he seems to know what he's talking about. I was just making an educated guess. Whatever is the cheapest and hassle-free, do it XD

Thanks for all the responses

Haha, I'm taking nowhere near $10,000NZ

Do it before you leave, and do it soon.

The yen is getting stronger and stronger. The sooner you exchange the better.

Also, the margins they charge here in Japan are outrageous. You'll do much better at a bank at home I suspect.

Quote:

Originally Posted by Tenchu (Post 630177)

... I am not overly sure it is rising... last I checked Japan it was announcing a recession and the yen is falling under a American based economy... of course, the NZ$ has fallen 30%, also...

i claim that the JPY is rising against a good many currency.

JPY<->THB
JPY<->USD
JPY<->EUR
JPY<->NZD

now, whether or not it will appreciate or depreciate in the near future or before when ever u will go.......i would be a very rich man if i knew that.

now to the question of the poster: i don't specifically know compared to rates in NZ, but japan is usually not a very good country to exchange money in. (as already pointed out by wasabista, but i needed an excuse to post)

Quote:

Originally Posted by Tenchu (Post 630131)

I have done a lot of traveling and it is better to sell currency rather than buy in the most of cases.

don't ppl think nowadays before the opening their mouth.

Quote:

Originally Posted by Tenchu (Post 630177)

... I am not overly sure it is rising... last I checked Japan it was announcing a recession and the yen is falling under a American based economy... of course, the NZ$ has fallen 30%, also...

Yes, Japan is officially in recession. Strangely, though, it seems most everyone else is suffering worse, so the yen is quite strong nowadays. In fact, it's holding up better than the Swiss franc.

My experience in Japan was that the rate is better if you exchange in Japan than in your country because the Yen in your country have to come there first. Also the rate at the airport is not bad at all, definetly not under the Banks in the city.

Quote:

Originally Posted by Tenchu (Post 630131)

I have done a lot of traveling and it is better to sell currency rather than buy in the most of cases.

pls be kind and explain why it is better to buy than to sell a currency for a private individual? i would love to hear this.

Quote:

Originally Posted by Tenchu (Post 630131)

No, Japan is getting raped, also. The large majority (like, 50% or something) of it's economy is based on the American consumer. Simple; America stops buying, Japan goes down the toilet.

However, the US is fuc*ed royally, but the USD has not fallen. Someone said it was because the amount of circulation of the USD, which is not completely US based (such as oil being bought and sold in USD, even in foreign countries), is what had protected it.

So, the fact that no one outside Japan buys shit in yen, and that Japans main market has just collapsed, and that I keep hearing about the yen falling on TV, I doubt it is very steady right now... you could probably try and Google it to find out if you gave a fuck... I don't unless you persist to disagree...

based to 50 % upon the american consumer? strange, since the japanese trade only stand for 15.5 % of its GDP and less than 20 % of its trade is with the US. now u did say american so i guess we can add all other "american citizens". however trade with the other american countries is not very great.

the yen is falling u say. i'm sry if four examples weren't enough. i'll give u a couple more, pls let me know if u require more to understand that the JPY has not fallen.

JPY<->CAD
JPY<->GBP
JPY<->HKD
JPY<->KRW
JPY<->CHF

Quote:

Originally Posted by Jidohanbaiki (Post 630126)

I wouldn't advice you to exchange money in the bank they take loads of money from you, if I was you I would exchange my money or in the post office or then in Japan, maybe at the airpor:vsign: