The best time to buy Japanese Yen with Australian dollars in the last 12 months was on September 13 2022. This is because the AUD/JPY hit 98.2967, making it the best time to buy yen in over 8 years. The same applies to anyone transferring money to Japan.
In contrast, the worst time in the past year was on March 26 2023. The same rate bottomed out at 86.79 compared with the current rate of 95.3369.
While it's nearly impossible to time the market perfectly, if you are travelling to Japan and need to buy yen, a higher AUD/JPY exchange rate rate is better for you. It means that you will receive more yen to spend for each Australian dollar you have.
Working out the best time to buy Japanese Yen
To work out the best time to buy your Japanese Yen before a trip instead of watching the exchange rate each minute, you can set up a rate tracker.
With a rate tracker, you can get
- Daily emails that tell you what the rate is
- An alert email for a particular rate that you want. For instance, if the AUD/JPY is at 81 but you want to buy it when it gets to 85 then you can set a rate alert for 85 and we'll notify you if it gets there
Make sure to also tell us you date of travel. You won't receive any more emails after this date.
You can also set up more than one alert. Choose a number of currencies including US dollars (USD), Euro (EUR). British pounds (GBP) and New Zealand dollars (NZD).
It's important not to leave it to the last minute. Even though S Money is one of the fastest ways to buy currency in Australia, you can't buy it on the day you are travelling. To allow for time, make sure you have ordered and paid for your order at least 4 days before you fly out.