Japanese Yen to New Taiwan Dollar exchange rate 4.85｜Complete guide to the 5 major ways to exchange Yen in Taiwan

Why Should You Pay Attention to the JPY to TWD Exchange Rate Now?

The Double Effect of TWD Depreciation + JPY Appreciation

On December 10, 2025, the JPY to TWD exchange rate reached a critical level of 4.85. This is not just a number; it represents a market opportunity that Taiwanese investors and travelers must grasp.

Compared to 4.46 at the beginning of the year, the yen has appreciated by 8.7% cumulatively, driven by two main factors:

1. Bank of Japan Policy Shift: Governor Ueda Kazuo’s hawkish stance has increased rate hike expectations to 80%, with a December 19 meeting expected to raise interest rates by 0.25 basis points to 0.75% (a 30-year high). Japanese bond yields have hit a 17-year high of 1.93%.

2. TWD Facing Depreciation Pressure: Amid global trade uncertainties, the New Taiwan Dollar has weakened relative to other currencies, significantly increasing the attractiveness of the yen.

Is it a good time to exchange for yen? The answer is: Yes, but with strategy.

Market data shows that Taiwan’s demand for currency exchange in the second half of the year increased by 25%, mainly due to travel recovery and risk hedging. In the short term, USD/JPY has fallen from a high of 160 at the start of the year to 154.58, with potential fluctuations around 155. The medium to long-term trend should stay below 150.

Investment Value of the Yen: More Than Just a Travel Currency

Travel and Daily Consumption Needs

• Cash Transactions Still Mainstream: Only 60% of Japanese use credit cards; shopping in Tokyo and Osaka, skiing in Hokkaido, and vacations in Okinawa mostly require cash.
• Purchasing and Cross-border Shopping: Buying Japanese cosmetics, clothing, and anime merchandise often requires direct yen payments.
• Studying Abroad and Long-term Residency: Exchanging currency in advance can hedge against exchange rate fluctuations and reduce costs.

The Global Top Three Safe-Haven Currencies

The yen, along with the US dollar and Swiss franc, is considered a safe-haven currency due to Japan’s stable economy and manageable debt levels. During market turbulence, funds tend to flow into the yen—take the 2022 Russia-Ukraine conflict as an example, where the yen appreciated by 8% in a week, buffering a 10% decline in the stock market.

For Taiwanese investors, exchanging for yen is not just for leisure but also an asset allocation option to hedge against Taiwan stock market volatility.

Four Core Ways to Exchange for Yen in Taiwan

Method 1: Over-the-counter Cash Exchange (Most Traditional, Highest Cost)

How it works: Carry cash in TWD to a bank branch or airport counter to exchange for yen notes.

Cost analysis:

• Uses “cash selling rate,” which is about 1-2% worse than the spot rate.
• For example, Taiwan Bank’s cash selling rate on December 10, 2025, is 0.2060 TWD/JPY (1 TWD = 4.85 JPY).
• Some banks charge a fixed handling fee of 100-200 TWD.

Major bank rates comparison (2025/12/10)

Advantages: Safe, reliable, full denominations, staff assistance.

Disadvantages: Less favorable rates, limited operating hours (9:00-15:30 on weekdays), handling fees may add to costs.

Suitable for: Those unfamiliar with online operations or needing small, urgent cash exchanges (e.g., at the airport).

Method 2: Online Currency Exchange + Foreign Currency Account (Moderate Cost, High Flexibility)

How it works: Use online banking or apps to convert TWD into yen and deposit into a foreign currency account, using the “spot selling rate.” Cash withdrawal is possible but incurs additional fees.

Cost analysis:

• Spot selling rate is about 1% better than cash selling rate.
• Withdrawal fees for cash (around 100 TWD or cross-bank fee of 5-100 TWD).
• E.g., E.SUN Bank: withdrawal fee for yen cash is the difference between spot and cash rate, minimum 100 TWD.

Advantages: 24/7 operation, ability to buy in installments for average cost, better exchange rates.

Disadvantages: Need to open a foreign currency account first, withdrawal fees apply.

Suitable for: Those experienced in forex trading, with foreign currency accounts, and long-term holding or fixed deposit plans.

Method 3: Online Currency Settlement + Designated Branch Pickup (Highest Cost-Performance Ratio)

How it works: No need for a foreign currency account. Fill in currency, amount, pickup branch, and date on the bank’s website. After transfer, bring ID and transaction notice to pick up in person.

Cost analysis:

• Taiwan Bank’s “Easy Purchase” online settlement is fee-free (pay via Taiwan Pay, only 10 TWD).
• Exchange rate advantage of about 0.5%.
• Can reserve airport branch pickup to save time.

Advantages: Favorable exchange rates, often no handling fee, airport pickup option, suitable for pre-trip planning.

Disadvantages: Requires reservation (1-3 days in advance), pickup during bank hours, branch cannot be changed.

Suitable for: Planned travelers who want to pick up cash at the airport, especially departing from Taoyuan Airport (Taiwan Bank has 14 branches, 2 open 24 hours).

Method 4: Foreign Currency ATM Withdrawal (Most Convenient, 24/7)

How it works: Use chip-enabled bank card at foreign currency ATMs to withdraw yen cash, supporting 24-hour and cross-bank operations. Deducts only 5 TWD cross-bank fee from TWD account.

Cost analysis:

• SinoPac Bank foreign currency ATMs: no forex exchange fee when withdrawing from TWD account.
• Daily limit of 150,000 TWD (varies by bank).
• Minimum cross-bank fee of 5 TWD.
• Limited locations (~200 nationwide), currency and denominations restricted.

Important reminder: Japan ATM withdrawal services will be adjusted by the end of 2025, requiring international cards (Mastercard/Cirrus). Don’t wait until the last minute, as cash may run out during peak times (e.g., airports).

Latest ATM withdrawal limits (October 2025)

Advantages: Instant withdrawal, high flexibility, low cross-bank fees.

Disadvantages: Limited locations, fixed denominations (1,000/5,000/10,000 JPY), cash may be sold out during busy times.

Suitable for: Those without time to visit banks or needing urgent cash.

Cost Comparison of the 4 Methods (Based on Exchanging 50,000 TWD)

Common Q&A about Exchanging for Yen

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

Cash Rate: The buy/sell rate banks offer for physical cash (notes/coins), used for travel exchange or on-site transactions. Advantage: immediate cash delivery. Disadvantage: usually 1-2% worse than the spot rate.

Spot Rate: The exchange rate for settlement within two business days (T+2) in the forex market, used for electronic transfers, interbank settlements, and import/export. More favorable, closer to international market price, but requires T+2 settlement.

Q: How much yen can I get with 10,000 TWD?

Calculation: Yen amount = TWD amount × current rate.

Using Taiwan Bank’s December 10, 2025, cash selling rate of 4.85:

• 10,000 TWD ≈ 48,500 JPY.
• Using spot rate 4.87, ≈ 48,700 JPY.
• Difference about 200 JPY (roughly TWD 40).

Q: What documents are needed for over-the-counter exchange?

Local residents: ID card + passport.

Foreigners: Passport + residence permit.

Company exchange: Business registration documents.

Additional notes:

• Under 20 requires parental consent.
• Large amounts (over 100,000 TWD) may require source of funds declaration.
• Online reservation requires transaction notice.

Q: What is the daily withdrawal limit for foreign currency ATMs in Taiwan?

After the 2025 update, the limit generally drops to 100,000-150,000 TWD per day, depending on the bank. It’s recommended to split withdrawals or use your own bank card to avoid cross-bank fees (5 TWD per transaction). During peak times, cash may run out, so plan ahead.

Post-Exchange Yen Value-Adding Strategies

Once you’ve successfully exchanged for yen, don’t let your funds sit idle without interest. Consider the following four allocation options:

1. Yen Fixed Deposit (Conservative)

• E.SUN, Taiwan Bank allow online operation.
• Minimum 10,000 yen.
• Annual interest rate 1.5-1.8%.

2. Yen Insurance Policy (Mid-term Holding)

• Cathay, Fubon Life offer yen savings insurance.
• Guaranteed interest rate 2-3%.

3. Yen ETF (Growth)

• Examples: Yuanta 00675U, tracking yen index.
• Can buy fractional shares via broker app.
• Management fee 0.4% annually.
• Suitable for dollar-cost averaging and long-term allocation.

4. Forex Trading (Swing Trading)

• Directly trade USD/JPY or EUR/JPY.
• Use platforms like Mitrade.
• Zero commission, low spreads, 24-hour trading.
• Long and short positions flexible.
• Be aware of BOJ rate hikes and global arbitrage risks.

While the yen has hedging features, it still carries two-way volatility risk. For investment, yen ETFs can diversify risk; for intraday or swing strategies, forex trading offers higher leverage and immediacy.

Summary: Seize the Golden Opportunity in Yen to TWD Exchange

The yen has evolved from a simple “travel pocket money” currency to an asset with hedging functions and small-scale investment value. Whether preparing for a trip to Japan next year or hedging against TWD depreciation, following the principles of “batch exchange + don’t leave your funds idle” can minimize costs and maximize returns.

Quick path for beginners: Start with “Taiwan Bank online settlement + airport pickup” or “foreign currency ATM,” then transfer yen into fixed deposits, ETFs, or try forex swing trading based on your needs. Not only can you enjoy more cost-effective travel, but you also add a layer of asset protection during global market turbulence.