Will the Japanese Yen maintain its upward trend this week?

Domestic Yen exchange rate today, September 23, 2024

The Japanese Yen exchange rates surveyed at various banks this morning, September 23, 2024, are as follows:

At Vietcombank , the Japanese Yen exchange rate is 165.11 VND/JPY for buying and 174.72 VND/JPY for selling.

At Vietinbank , the Yen exchange rate is equivalent to 167.04 VND/JPY and 176.74 VND/JPY.

At BIDV bank, the Japanese Yen exchange rate for buying and selling reached 167.48 VND/JPY and 174.97 VND/JPY respectively.

At Agribank, the Japanese Yen exchange rate for buying and selling is 168.14 VND/JPY and 176.56 VND/JPY respectively.

At Eximbank, the buying and selling rates are 168.14 VND/JPY and 174.36 VND/JPY, respectively.

At Techcombank, the buying and selling rates for the Japanese Yen are 164.31 VND/JPY and 174.69 VND/JPY, respectively.

At Sacombank, the Japanese Yen exchange rate for buying and selling is 167.98 VND/JPY and 174.99 VND/JPY respectively.

At NCB bank, the Japanese Yen exchange rate is 167 VND/JPY for buying and 175.27 VND/JPY for selling.

At HSBC bank, the Japanese Yen exchange rate for buying and selling is 168.52 VND/JPY and 175.95 VND/JPY respectively.

According to a survey by the Industry and Trade Newspaper, HSBC has the highest buying rate for the Japanese Yen today , while Eximbank has the lowest selling rate among all banks .

As of 6:00 AM on September 23 , 2024 , the following is a summary of the Yen/VND exchange rates at several banks:

*Note: Cash buying and selling rates
Day	September 23 , 2024		Change from the previous session
Bank	Buy	Sell	Buy	Sell
Vietcombank	165.11	174.72	-	-
VietinBank	167.04	176.74	-	-
MB	167.48	174.97	-	-
Agribank	168.14	176.56	-	-
Eximbank	168.19	174.36	-	-
Sacombank	167.98	174.99	-	-
Techcombank	164.31	174.69	-	-
NCB	167	175.27	-	-
HSBC	168.52	175.95	-	-
Black market exchange rate (VND/JPY)	172.26	173.46	-	-

1. VCB – Updated: 23/09/2024 08:57 – Time of source website update
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,318.77	16,483.61	17,013.30
Canadian Dollar	CAD	17,670.57	17,849.06	18,422.63
SWISS FRANCE	CHF	28,160.78	28,445.24	29,359.31
YUAN RENMINBI	CNY	3,415.85	3,450.36	3,561.77
DANISH KRONE	DKK	-	3,611.00	3,749.47
EURO	CZ	26,736.33	27,006.40	28,203.78
POUND STERLING	GBP	31,890.01	32,212.13	33,247.25
HONG KONG DOLLAR	HKD	3,075.96	3,107.03	3,206.88
INDIAN RUPEE	INR	-	293.79	305.56
YEN	rush	164.66	166.32	174.25
Korean Won	KRW	15.94	17.71	19.22
KUWAITI DINAR	KWD	-	80,396.58	83,615.05
MALAYSIAN RINGGIT	MYR	-	5,798.98	5,925.77
NORWEGIAN KRONER	NOK	-	2,299.09	2,396.82
RUSSIAN RUBLE	RUB	-	253.40	280.53
SAUDI RIAL	SAR	-	6,535.09	6,796.70
SWEDISH KRONA	SEK	-	2,369.07	2,469.78
SINGAPORE DOLLAR	SGD	18,565.87	18,753.41	19,356.04
THAILAND BAHT	THB	659.24	732.49	760.58
US DOLLAR	cau	24,390.00	24,420.00	24,760.00

On the "black market," the Japanese Yen exchange rate as of this morning, September 23 , 2024 , is as follows:

So what is the black market exchange rate for the Yen today ?

Today, September 23, 2024, a survey of the black market shows that the Japanese Yen/VND exchange rate is trading at 172.26 VND/JPY for buying and 173.46 VND/JPY for selling.

In Hanoi, the largest currency exchange street, offering a wide variety of foreign currencies, is Ha Trung Street. At Ha Trung Street, you can exchange common currencies such as USD (US dollar), Euro, Yen (Japanese Yen), Won (Korean Won), and many others. Therefore, the Japanese Yen exchange rate in Ha Trung is a popular search term, and Quoc Trinh Ha Trung is a frequently advertised address on social media. However, when exchanging money in these currency exchange streets, you must comply with Vietnamese law.

Will the Japanese Yen maintain its upward trend this week?

Forecast of Yen exchange rate trends

The Bank of Japan (BOJ) decided to keep interest rates unchanged on Friday (September 20) while raising its consumer spending forecast. This is seen as a signal of optimism among monetary policymakers that the economic recovery is holding steady and will allow for interest rate increases in the coming months.

Accordingly, the Japanese yen is recovering against the US dollar following the BOJ's statement.

Previously, the BOJ had decided to raise interest rates in August 2000, then in July 2006 and February 2007. All three instances ended when the Fed began cutting interest rates to respond to the dot-com bubble and real estate crisis.

The yen has recovered from its sharp decline this year, easing pressure for interest rate hikes in the country. However, the Bank of Japan is prepared to change policy if the stock market stabilizes after the sharp correction in August, and if economic indicators and inflation continue to develop as forecast.

Furthermore, the BOJ believes that the US economy is gradually stabilizing without falling into recession. Kazuo Momma, chief economist at Mizuho Research & Technologies, commented: " If so, the pressure to buy the yen will decrease, and the BOJ may raise interest rates ."

Although the yen surged after the Fed's interest rate cut on Wednesday, the sell-off quickly returned, and the Nikkei index closed above 37,000 points on Thursday. Currently, the yen is weaker than it was during previous Fed easing periods.

Check out these popular places to exchange foreign currency and buy/sell USD in Hanoi:

1. Quoc Trinh Ha Trung Gold Shop – 27 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

2. Gold and Silver Handicrafts – No. 31 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

3. Minh Chien Gold and Silver Shop – 119 Cau Giay Street, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company – 43 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

5. Toan Thuy Store – 455 Nguyen Trai Street, Thanh Xuan District, Hanoi and 6 Nguyen Tuan Street, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones – 19 Tran Nhan Tong Street, Bui Thi Xuan Ward, Hanoi

7. Chinh Quang Store – 30 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store – 47 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

9. Huy Khoi Store – 19 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi

10. The system of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Check out these popular foreign currency exchange and USD buying/selling locations in Ho Chi Minh City:

1. Minh Thu Foreign Exchange – 22 Nguyen Thai Binh Street, District 1, Ho Chi Minh City

2. Kim Mai Gold Shop – 84 Cong Quynh Street, District 1, Ho Chi Minh City

3. Kim Chau Gold Shop – 784 Dien Bien Phu Street, Ward 10, District 10, Ho Chi Minh City

4. Saigon Jewelry Center – 40-42 Phan Boi Chau Street, District 1, Ho Chi Minh City

5. Kim Hung Foreign Exchange Agency – 209 Pham Van Hai Street, Binh Chanh District, Ho Chi Minh City

6. DOJI Jewelry Store – Diamond Plaza Le Duan, 34 Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City

7. Kim Tam Hai Shop – 27 Truong Chinh Street, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City

8. Bich Thuy Gold Shop – No. 39 Pham Van Hai Market, Ward 3, Tan Binh District, Ho Chi Minh City

9. Ha Tam Gold Shop – 2 Nguyen An Ninh Street, Ben Thanh Ward, District 1, Ho Chi Minh City

10. The system of transaction offices at banks in Ho Chi Minh City such as: Sacombank, VietinBank, Vietcombank, SHB, Eximbank

Source: https://congthuong.vn/ty-gia-yen-nhat-hom-nay-2392024-dong-yen-co-duy-tri-da-tang-trong-tuan-nay-347608.html