TOKYO CURRENCY, MONEY AND EXCHANGE

Understanding Tokyo’s currency, managing money, and exchanging currency are essential aspects of travel preparation for visitors to the city. From knowing the local currency to finding convenient ways to exchange money, being informed about financial matters can enhance your experience in Tokyo.

Currency:

  • Japanese Yen (JPY): The official currency of Japan is the Japanese Yen, denoted by the symbol “¥” and the abbreviation “JPY.” Banknotes come in denominations of ¥1,000, ¥2,000, ¥5,000, and ¥10,000, while coins are available in denominations of ¥1, ¥5, ¥10, ¥50, ¥100, and ¥500.

Money Management:

  • Cash Culture: While credit and debit cards are widely accepted in major establishments such as hotels, department stores, and restaurants, Japan remains largely a cash-based society. It’s advisable to carry sufficient cash for smaller purchases, local eateries, and transportation fares.
  • ATMs: ATMs are available at banks, post offices, convenience stores, and major train stations in Tokyo. Look for ATMs that accept international cards (marked with symbols like PLUS, Cirrus, or Maestro) and are accessible outside of banking hours.

Currency Exchange:

  • Banks: Major banks in Tokyo offer currency exchange services for a variety of foreign currencies. Visit bank branches during business hours for currency exchange transactions, and be prepared to present identification (e.g., passport) for verification.
  • Currency Exchange Counters: Currency exchange counters can be found at airports, major train stations, and popular tourist areas in Tokyo. These counters typically offer competitive rates and convenient hours of operation.
  • Hotels: Some hotels in Tokyo provide currency exchange services for guests, although rates may be less favorable compared to banks or specialized exchange counters. Inquire at the hotel reception for more information.

Exchange Tips:

  • Comparison Shop: Compare exchange rates and fees at different banks, exchange counters, and ATMs to get the best value for your money. Rates may vary depending on the provider and the amount being exchanged.
  • Avoid Airport Exchange: While convenient, currency exchange services at airports often offer less favorable rates and higher fees compared to other options in the city. Consider exchanging a small amount for immediate expenses and exchanging the rest at more favorable locations in Tokyo.

Currency Conversion Apps:

  • Mobile Apps: Currency conversion apps such as XE Currency, Currency Converter Plus, or OANDA Currency Converter can help you track exchange rates, convert currencies, and manage your finances while traveling in Tokyo.