The best time to buy Japanese Yen with Australian dollars this year, was around the 10th of May when the AUD/JPY exchange rate hit 85.80. In contrast, the worst time was more recent. On the 23rd of August, the same rate bottomed out at 78.38.
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.