How to exchange Japanese yen denominations to save the most? NT$ to JPY at 4.85, one trick to save thousands

In December 2025, the NT dollar to Japanese Yen has reached 4.85, and the number of people exchanging for Yen has surged. But do you know? Exchanging 50,000 NT dollars in different ways can result in a difference of up to 2,000 NT dollars—about the cost of a Japanese gourmet trip. Today, we won’t discuss theories but will use data to tell you the most cost-effective strategies for exchanging Japanese Yen denominations.

How to exchange Japanese Yen denominations? First, understand the exchange rate game rules

The exchange rates quoted by banks seem the same, but there are hidden details.

Cash exchange rate vs. Spot exchange rate—what’s the difference? Simply put:

• Cash exchange rate: You exchange cash directly; the bank earns the spread, and the rate is less favorable (1-2% below market price)
• Spot exchange rate: Online transfer exchange; close to international market price, saving you more money

Taking Taiwan Bank’s rates on December 10, 2025, as an example:

• Cash selling: 1 NT dollar = 4.85 Yen
• Spot selling: 1 NT dollar = 4.87 Yen

With the same 10,000 NT dollars, cash exchange yields only 48,500 Yen, but online exchange can get 48,700 Yen—200 Yen difference, roughly NT$40. The more you exchange, the more you lose.

4 practical methods for exchanging Yen denominations compared

1st place: Online currency exchange + airport pickup (most recommended)

Lowest cost, suitable for pre-trip planning

Taiwan Bank’s “Easy Purchase” online currency exchange with zero handling fee (pay with Taiwan Pay, only NT$10), with about 0.5% favorable exchange rate. The key is that you can reserve pickup at the airport. Taoyuan Airport has 14 Taiwan Bank locations, 2 of which operate 24 hours, so no worries about timing.

Actual test with NT$50,000: loss of about NT$300-800 (including exchange spread)

Advantages: Best exchange rate, can specify airport pickup, flexible timing
Disadvantages: Need to book 1-3 days in advance, pickup time limited

Suitable for: Travelers who decide a week before departure

2nd place: Foreign currency ATM (most convenient)

Withdraw anytime 24/7, no bank hours restrictions

Use a chip-enabled financial card at a foreign currency ATM supporting Yen, with only NT$5 interbank fee. E.SUN Bank’s foreign currency ATM has a daily limit of NT$150,000, with no exchange fee.

Actual test with NT$50,000: loss of about NT$800-1,200

Advantages: 24/7 access, low cross-bank fee, high flexibility
Disadvantages: Only about 200 ATMs nationwide, fixed denominations (1,000/5,000/10,000 Yen), cash shortages during peak times

Suitable for: Last-minute needs, no time to visit banks

3rd place: Online exchange + in-person or ATM withdrawal (investment-oriented)

Observe exchange rates while operating, buy Yen in batches to average costs

Use online banking app to buy Yen gradually when rates are low (e.g., NT$ to Yen below 4.80). Funds are stored in a foreign currency account, earning interest (annual rate 1.5-1.8%) without withdrawal. Later, consider cashing out or transferring to fixed deposits.

Actual test with NT$50,000: loss of about NT$500-1,000

Advantages: 24-hour operation, dollar-cost averaging, foreign currency account earns interest
Disadvantages: Need to open a foreign currency account, withdrawal incurs additional fees

Suitable for: Readers with forex knowledge who want to invest in Yen

4th place: Bank counter cash exchange (least cost-effective)

Traditional but most expensive, only as a backup

Bring cash NT dollars to a bank or airport counter to exchange for Yen cash. Safe, full denominations, but uses the bank’s cash selling rate plus some banks charge NT$100-200 handling fee.

Actual test with NT$50,000: loss of NT$1,500-2,000

Advantages: Safe, simple process, multiple denominations
Disadvantages: Worst exchange rate, possible additional fees, limited operating hours

Suitable for: People unfamiliar with online operations or needing urgent cash at the airport

Is it really cost-effective to exchange Yen now?

Yes, but timing matters.

By 2025, the NT dollar to Yen has appreciated by 8.7% (from 4.46 at the start of the year to 4.85 now), making exchange gains quite significant. In the second half of the year, Taiwan’s forex demand surged 25%, mainly due to travel recovery and asset allocation.

However, volatility remains high. Bank of Japan Governor Ueda Kazuo’s hawkish comments pushed rate hike expectations to 80%, with a projected increase to 0.75% on December 19 (a 30-year high). USD/JPY has fallen from 160 at the start of the year to 154.58, with short-term fluctuations around 155, and long-term forecasts below 150.

Advice: Gradually enter the market, avoid exchanging all at once:

• First, exchange 50% (using online currency exchange)
• Observe the trend over 2-4 weeks
• Based on the Bank of Japan’s meeting results, exchange the remaining amount

Common questions about Yen denominations

Q: How much Yen do I get for NT$10,000?

Using cash exchange rate (0.2060): NT$10,000 ÷ 0.2060 ≈ 48,544 Yen
Using spot rate (0.2065): NT$10,000 ÷ 0.2065 ≈ 48,431 Yen

The difference is small but compounded; exchanging NT$500,000 differs by NT$2,000.

Q: How to use the Yen after exchange?

Don’t let the money sit idle with no interest. There are 4 options:

1. Yen fixed deposit: Most stable, starting from NT$10,000, annual interest 1.5-1.8% (E.SUN/ Taiwan Bank)
2. Yen insurance policy: Medium-term holding, guaranteed interest rate 2-3% (Cathay/Fubon savings insurance)
3. Yen ETFs (00675U, 00703): Can invest in fractional shares, management fee 0.4%, capturing Yen appreciation
4. Forex trading USD/JPY: Short-term trading, 24-hour market, both long and short positions

Q: What’s the limit for foreign currency ATM withdrawals?

As of October 2025, banks have adjusted limits:

• CTBC Bank: NT$120,000 per transaction and per day (equivalent)
• Taishin Bank: NT$150,000 per transaction and per day
• E.SUN Bank: NT$50,000 per transaction (about 50 banknotes), NT$150,000 per day

Recommend spreading withdrawals or using your own bank card to save NT$5 interbank fee.

Q: What do I need to bring for exchange?

For counter transactions, bring ID + passport (foreigners bring passport + residence permit). Large amounts over NT$100,000 may require source of funds declaration. If booked online, bring transaction confirmation.

Final Yen exchange strategy

Yen is no longer just travel “pocket money”; it’s also a hedge asset and investment tool. Follow the two principles:

• “Gradual exchange + don’t leave the money idle after exchanging”
• Beginners start with “Taiwan Bank online exchange + airport pickup” or “foreign currency ATM”
• Transition into fixed deposits, ETFs, or small forex trades based on needs
• During global market turbulence, add an extra layer of protection

Not only can you travel more cost-effectively, but you can also allocate your funds smarter amid NT dollar depreciation pressures.