How much Japanese Yen can you get for 10,000 TWD? Breakdown of costs across the four major exchange channels

As the timeline reaches the end of 2025, the TWD to JPY exchange rate hovers around 4.85. Travel demand to Japan has rebounded, and more people are investing in yen. But do you really need to go to the bank to exchange yen? What’s the most cost-effective way to exchange 50,000 or 100,000 TWD? We break down four common exchange methods on the market to help you see the cost differences clearly.

How much can you actually get when exchanging 10,000 TWD for yen?

Using an exchange rate of 4.85 TWD per JPY, 10,000 TWD can get approximately 48,500 yen (cash selling rate); with an online spot rate of about 4.87, you can get around 48,700 yen, a difference of about 200 yen (equivalent to NT$40).

It seems similar, but there’s a hidden detail behind the numbers: cash exchange rates are 1-2% worse than spot rates, plus bank handling fees. Exchanging 50,000 TWD at once results in a loss of NT$500 to NT$2,000.

Four major yen exchange channels compared

Channel 1: Bank counter cash exchange — the most traditional, highest cost

Go directly to a bank or airport counter, hand over cash TWD, and receive paper yen notes. This is most people’s first instinct, but also the most expensive.

Why is it costly? Banks apply a “cash selling rate,” which is about 2% worse than the international spot rate. Taiwan Bank’s December 2025 cash selling rate is about 0.2060 TWD per yen (roughly 4.85); plus, they charge a handling fee of NT$100-200.

Case of 50,000 TWD: Loss of NT$1,500-2,000.

Suitable for: Urgent airport needs, emergency situations, or those who prefer simple procedures.

Latest bank counter rates (as of December 10, 2025):

Channel 2: Online banking transfer — better rates but more steps

Use bank app or online banking to convert TWD into yen and deposit into a foreign currency account. This uses the “spot sell rate,” about 1% better than counter rates. If you later withdraw cash at an ATM or counter, there will be additional fees (usually NT$100+).

Advantages: 24/7 operation, can buy in installments to lower costs, more favorable rates.

Risks: Need to open a foreign currency account in advance; withdrawing cash again incurs extra costs.

Case of 50,000 TWD: Loss of NT$500-1,000.

Suitable for: Those experienced with forex investments, planning to hold yen deposits long-term.

Channel 3: Online currency reservation for pickup — most convenient

Taiwan Bank and Mega Bank offer this service. Fill out online details (amount, currency, branch, pickup date). After remittance, bring ID and transaction notification to pick up cash at the counter. The biggest advantage is reservation for airport branch pickup.

Taiwan Bank’s “Easy Purchase” has no handling fee (using Taiwan Pay costs only NT$10), with about 0.5% rate advantage.

Case of 50,000 TWD: Loss of NT$300-800.

Suitable for: Travelers planning a week before departure who want to pick up yen cash directly at the airport.

Channel 4: Foreign currency ATM cash withdrawal — most flexible but limited locations

Use a bank-issued card with a chip to withdraw cash directly from foreign currency ATMs, operating 24/7. Cross-bank withdrawals cost NT$5 per transaction. E.SUN Bank allows direct deduction from TWD account to get yen, with a daily limit of NT$150,000 (others are NT$50,000-120,000).

Clear disadvantages: Less than 200 ATMs nationwide; during peak times (airports, tourist spots), cash often runs out. Denominations are fixed at 1,000, 5,000, or 10,000 yen.

Case of 50,000 TWD: Loss of NT$800-1,200.

Suitable for: Spontaneous trips, no time to visit banks.

Cost comparison of the four methods

Is it worth exchanging 10,000 TWD now?

Current rate: TWD/JPY around 4.85, up over 8.7% from 4.46 at the start of the year. For Taiwanese, this is advantageous because you get more yen for your money.

Central bank trend: The Bank of Japan’s recent hawkish comments have pushed up rate hike expectations to 80%. The December meeting is expected to raise rates by 0.25 basis points to 0.75% (a 30-year high). USD/JPY has fallen from 160 to 154.58 since the start of the year; short-term may return to 155, but medium to long-term forecasts are below 150.

Investment perspective: Yen is one of the three major global safe-haven currencies (alongside USD and CHF). During market turbulence, funds flow into yen. In 2022, during the Russia-Ukraine conflict, yen appreciated 8% in a week, easing stock declines. For Taiwanese investors, exchanging yen isn’t just for travel but also a hedge against Taiwan stock market volatility.

Suggested approach: Dollar-cost averaging—don’t buy all at once. Currently in a volatile zone, consider buying in dips gradually.

What to do after exchanging yen? Don’t let your money sit idle

Once you have yen, here are four options to consider:

1. Yen fixed deposit — the most conservative. Open a foreign currency account, deposit a minimum of 10,000 yen, with an annual interest rate of 1.5-1.8%. Suitable for short-term parking of funds.

2. Yen insurance policy — medium-term allocation. Purchase foreign currency savings insurance with a guaranteed rate of 2-3%, with protection features.

3. Yen ETFs (e.g., 00675U, 00703) — growth-oriented. Buy fractional shares via brokerage apps, tracking yen indices, with about 0.4% annual management fee, suitable for regular investment.

4. Forex swing trading — short-term operation. Trade USD/JPY or EUR/JPY directly on trading platforms, 24/7 trading, but higher risk.

While yen has hedging properties, it also fluctuates bidirectionally. Global arbitrage unwinding, geopolitical changes (Taiwan Strait, Middle East) can impact rates. For investment, yen ETFs are safer for diversification; for swing trading, set stop-loss and take-profit levels.

Quick FAQ

Q: How much yen can I get for 10,000 TWD now?
Based on December 2025 rate of 4.85, about 48,500 yen. Using spot rate 4.87, about 48,700 yen. Difference only 200 yen.

Q: What’s the difference between cash rate and spot rate?
Cash rate is the bank’s quote for physical notes, about 1-2% worse than the spot rate, but allows immediate withdrawal. Spot rate is the market delivery price, used for electronic transfers, settled T+2, but closer to international market.

Q: How much TWD can I bring to the airport without declaring?
Amounts over NT$100,000 require declaration of funds. It’s recommended to withdraw in installments or pre-arrange online to avoid queues.

Q: What’s the daily withdrawal limit at foreign currency ATMs?
Varies by bank. Many banks allow NT$150,000/day; others NT$50,000-100,000. During peak times (holidays, airports), cash may run out. Plan ahead.

Final reminder

Choosing the right exchange method depends on your timing, amount, and plans. For urgent airport cash, use ATMs; a week before departure, reserve online for airport pickup; for investment, buy in installments via online banking.

The core principle is simple: divide your exchange to reduce rate risk, and after exchanging, don’t let your money sit idle—move it into fixed deposits or ETFs to grow your funds. This way, you not only save on travel costs but also add a layer of protection during global market fluctuations.