How much Japanese Yen should I exchange for a trip to Japan? Understand 4 exchange methods + the ultimate money-saving tips at once

In mid-December 2025, the NT dollar has risen above 4.85 against the Japanese Yen. People planning to travel to Japan or take the opportunity to allocate Yen assets are starting to act. But exchanging Yen is not limited to just one method; simply choosing different channels can result in costs differing by several thousand NT dollars. How to exchange in a cost-effective way? Let’s compare all options side by side.

First, Understand: How much Yen do you really need?

Before deciding how to exchange, ask yourself three questions:

What is the purpose? Pure travel expenses (cash-based), purchasing for investment, or foreign exchange asset allocation?

How much? Under 50,000 NT dollars is small emergency fund; 200,000-500,000 NT dollars is a medium investment scale.

Is time tight? Need to withdraw immediately before departure, or can plan ahead?

For example, with 50,000 NT dollars at the current rate of 4.85, you can exchange approximately 242,500 Yen. But the final amount received depends on the exchange method you choose.

The 4 Main Channels for Yen Exchange Compared

1. Bank Counter｜Traditional but Highest Cost

Exchange cash Yen directly at a bank or airport counter—this is the most common old method. Simple to operate, but banks use “cash selling rate” (1-2% worse than the market spot rate), and may charge handling fees.

For example, Taiwan Bank’s cash selling rate on December 10, 2025, was about 0.2060 NT$/Yen (inverse to roughly 4.85 Yen/NT$). Exchanging 50,000 NT$, you lose about 1,500-2,000 NT$.

• Pros: Most secure, multiple denominations, bank staff count for you
• Cons: Worst exchange rate, limited business hours, possible handling fees
• Suitable for: Those who dislike hassle, urgent needs, elderly

Comparison of major banks’ cash rates (2025/12/10):

2. Foreign Currency ATMs｜Fast but Limited

Use a chip-enabled bank card at foreign currency ATMs outside banks to withdraw Yen. Available 24/7, deducts only 5 NT$ cross-bank fee from your NT account. E.SUN Bank’s foreign currency ATMs support daily withdrawal limits of 150,000 NT$, with no currency exchange fee.

However, there are only about 200 such ATMs nationwide, with fixed denominations (1,000/5,000/10,000 Yen), and they can run out during peak times.

• Pros: Anytime, low cross-bank fee, instant cash
• Cons: Few locations, limited denominations, cash may run out
• Suitable for: No time to visit bank, urgent needs, frequent foreign currency users

3. Online Currency Exchange + Airport Pickup｜Best Before Travel

Log into your bank’s website, no need to open a foreign currency account. Select currency, amount, and pickup branch. After completing, bring ID and transaction notification to designated branch to pick up cash. Taiwan Bank’s “Easy Purchase” online exchange has no fee, with a 0.5% favorable rate.

Taoyuan Airport has 14 Taiwan Bank service points, 2 of which operate 24 hours, suitable for those catching flights. Requires 1-3 days advance reservation; cannot change branch on short notice.

• Pros: Better rates, often no fee, can choose airport pickup
• Cons: Need to book in advance, fixed time and branch, no last-minute changes
• Suitable for: Planned travelers who want to pick up cash at the airport before departure

4. Online Exchange + Counter or ATM Withdrawal｜Most Flexible

First, transfer NT$ to Yen in your foreign currency account via bank app (using spot rate, about 1% better than cash rate). When cash needed, go to counter or foreign currency ATM to withdraw. Each withdrawal incurs a currency conversion fee starting around 100 NT$.

Ideal for those who want to buy in installments and observe exchange rate trends. For example, buy when NT$/Yen is below 4.80, and keep exchanging as an investment.

• Pros: 24/7 operation, flexible installments, better rates
• Cons: Need foreign currency account, withdrawal fees apply
• Suitable for: Experienced forex investors, long-term Yen holders

Cost Comparison for 50,000 NT$ Exchange

Is It a Good Time to Exchange Yen Now? Market Outlook

Short-term view: Yes, can exchange, but in installments

Yen has appreciated from 4.46 at the start of the year to 4.85, an 8.7% increase, making currency gains attractive. But the Yen faces two-way risks:

BOJ Governor Ueda recently turned hawkish, with market expectations of a rate hike to 0.75% on December 19 (30-year high). USD/JPY has fallen from 160 to 154.58, likely to oscillate around 155 short-term, but long-term forecast suggests it may fall below 150.

For investors, Yen as a safe-haven currency can hedge against Taiwan stock volatility. But short-term arbitrage carries a risk of 2-5% fluctuation. It’s recommended to buy in installments rather than all at once.

Travelers: No need to wait, now is a good time

If just traveling, a rate around 4.85 is already decent. No need to wait. Instead, book online exchange or use foreign currency ATMs early to lock in current rates and avoid last-minute cost hikes.

After Exchanging Yen, How to Use It?

Rather than letting Yen sit idle without interest, consider moving into:

Yen Fixed Deposit: Most stable. E.SUN Bank and Taiwan Bank support online deposits into foreign currency accounts, starting from 10,000 Yen, with annual interest rates of 1.5-1.8%.

Yen ETFs: Suitable for those wanting exposure to Japanese markets. Yuanta 00675U tracks Yen index, with 0.4% annual management fee, can be bought as fractional shares via brokerage apps.

Yen Insurance Policies: Medium-term holding. Cathay and Fubon offer savings insurance with guaranteed interest rates of 2-3%.

Forex Swing Trading: Advanced option. Trade USD/JPY or EUR/JPY on forex platforms, 24/7 two-way trading, with small capital. Platforms like Mitrade offer zero commissions, low spreads, and tools like stop-loss, take-profit, trailing stops.

FAQ: Common Questions About Yen Exchange

Q. What’s the difference between cash rate and spot rate?

Cash rate is used for physical banknotes and coins, usually 1-2% worse than the spot rate; spot rate is used for interbank electronic settlement (T+2), closer to international market prices. In short, cash rate is the bank’s cost to you.

Q. How much Yen can I get with 10,000 NT$?

Based on Taiwan Bank’s cash selling rate of 4.85 on December 10, 2025, about 48,500 Yen. Using the spot rate (around 4.87), about 48,700 Yen, a difference of roughly 200 Yen (about 40 NT$).

Q. What do I need to bring for counter exchange?

Local residents: ID + passport; foreigners: passport + residence permit; under 20: parent’s consent and ID. If pre-booked online, bring transaction notification. Large amounts (over 100,000 NT$) may require source of funds declaration.

Q. Are there withdrawal limits at foreign currency ATMs?

Post-2025 regulations, daily limits are generally 100,000-150,000 NT$ equivalent. Our bank card’s limit is more flexible; recommend splitting withdrawals or using your own bank card to save cross-bank fees (5 NT$ per transaction). During peak airport hours, cash may run out; plan ahead for safety.