How much does it cost to exchange Japanese yen for RMB? The latest exchange rate and hot spot analysis in 2024
Recently, the exchange rate of the Japanese yen against the Chinese yuan has continued to fluctuate, arousing widespread concern among investors and cross-border consumer groups. This article will combine the hot topics on the Internet in the past 10 days to provide you with the latest exchange rate data, analysis of influencing factors and practical suggestions.
1. The latest exchange rate of Japanese yen against Chinese yuan (updated in June 2024)
| Date | 100 yen to renminbi | Fluctuation range |
|---|---|---|
| 2024-06-01 | 4.83 yuan | +0.3% |
| 2024-06-05 | 4.79 yuan | -0.8% |
| 2024-06-10 | 4.72 yuan | -1.5% |
2. Three hot factors affecting exchange rates
1.Bank of Japan policy adjustments: In early June, the Bank of Japan issued a signal that it "may reduce the scale of government bond purchases", which led to a short-term strengthening of the yen, but then fell back due to weak economic data.
2.China’s import and export data exceeds expectations: China's trade surplus expanded to US$82.6 billion in May, and the RMB received support, which indirectly affected the exchange rate of the Japanese yen against the RMB.
3.Summer travel season expectations: As the summer vacation approaches, the search volume for traveling to Japan has increased by 240% year-on-year. The increase in demand for currency exchange may cause short-term fluctuations.
3. Top 5 hot topics on the Internet
| Ranking | topic | Discussion popularity |
|---|---|---|
| 1 | Adjustments to Japan’s tax exemption policy | 120 million reads |
| 2 | Depreciation of the yen triggers purchasing boom | 98 million reads |
| 3 | Japanese real estate investment threshold lowered | 75 million reads |
| 4 | Changes in cost of studying in Japan | 62 million reads |
| 5 | Price cuts for Japanese electronic products | 58 million reads |
4. Practical suggestions for currency exchange
1.Batch exchange strategy: The current exchange rate is at a low level during the year. It is recommended to complete large-amount exchanges in 3-4 times to reduce the risk of a single operation.
2.Pay attention to bank offers: Some banks have launched "summer currency exchange discounts", which can save you up to 0.2 yuan/100 yen.
3.Avoid weekend rush hours: Data shows that the exchange volume on weekends is 37% higher than on weekdays, and the exchange rate is often unfavorable.
5. Exchange rate forecast for the next one month
| institution | Predicted price of 100 yen | Fluctuation range |
|---|---|---|
| JPMorgan Chase | 4.68-4.82 yuan | ±1.5% |
| UBS | 4.65-4.90 yuan | ±2.0% |
| CICC | 4.70-4.85 yuan | ±1.2% |
Summary:The current exchange rate of the Japanese yen against the Chinese yuan is at a low level in the past two years, which is a good time for those who want to travel, study abroad or invest in Japan. It is recommended to continue to pay attention to the Bank of Japan's July policy meeting and China's PMI data, which will become key factors affecting the exchange rate. By rationally planning the exchange time and amount, exchange costs can be effectively reduced.
(Note: The data in this article are as of June 10, 2024, and the specific exchange rate is subject to actual operation)
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