Japanese Yen Exchange Guide: 4 Ways to Check at Once, Is Now a Good Time to Exchange?

Current Briefing

On December 10, the TWD to JPY exchange rate reached 4.85, with 10,000 TWD exchanging for 48,500 JPY, appreciating by 8.7% this year. The popularity of travel to Japan is rising, and the demand for investment hedging is also surging, with many people already planning their JPY holdings.

But what’s the most cost-effective way to exchange? Many think just going to the bank counter is enough, but they don’t realize that the exchange rate difference alone can save enough to buy several cups of bubble tea.

Fastest Decision-Making Routes: Which Currency Exchange Method Should You Choose?

Based on budget and time planning, there are four options. For friends with a budget of 50,000-200,000 TWD, we especially recommend a hybrid approach of “Online Currency Exchange + Foreign Currency ATM.”

Option 1: In-branch Cash Exchange (Most Conservative)

Bring cash TWD to the bank or airport to exchange for JPY and receive cash on the spot. This method uses the “cash selling rate” (1-2% worse than the spot rate), resulting in the highest overall cost.

Taiwan bank cash selling rate is about 0.2060 TWD/JPY (equivalent to 4.85), with some banks adding a handling fee of 100-200 TWD. Estimated loss when exchanging 50,000 TWD is about 1,500-2,000 TWD.

Advantages: Safe, denominations available (1,000/5,000/10,000 JPY), assistance from staff.
Disadvantages: Worst exchange rate, limited business hours (Weekdays 9:00-15:30).
Suitable for: Urgent airport needs, travelers unfamiliar with online operations.

Major banks’ cash selling rates as of December 2025 (JPY/TWD):

• Taiwan Bank: 0.2060
• Mega International Bank: 0.2062
• CTBC Bank: 0.2065
• First Commercial Bank: 0.2062
• E.SUN Bank: 0.2067
• Bank SinoPac: 0.2058

Option 2: Online Currency Exchange + ATM or Counter Withdrawal (Moderate Cost)

Use banking app or online banking to transfer TWD into JPY into a foreign currency account, using the “spot selling rate” (about 1% better than cash selling rate). If cash is needed, go to ATM or counter to withdraw, incurring a handling fee starting at 100 TWD.

This method suits those who want to buy in installments to average the exchange rate, especially when TWD is below 4.80. Estimated loss: 500-1,000 TWD.

Advantages: 24-hour operation, better rates, allows cost averaging.
Disadvantages: Need to open a foreign currency account first, withdrawal fees apply.
Suitable for: Experienced forex users planning to deposit in JPY.

Option 3: Online Currency Exchange + Airport Pickup (Best Value)

This is the best pre-departure booking method. No foreign currency account needed. Fill in amount, branch, and date on the bank’s official website, complete the transfer, then bring ID and transaction notice to pick up in person. Taiwan Bank and Mega Bank offer this service, with Taiwan Bank’s “Easy Purchase” online exchange fee-free (pay only 10 TWD via TaiwanPay), with a 0.5% rate advantage.

Taoyuan Airport has 14 Taiwan Bank branches (2 open 24 hours), very convenient. Estimated loss: 300-800 TWD.

Advantages: Favorable rates, often no handling fee, can specify airport pickup.
Disadvantages: Need to book 1-3 days in advance, pickup time limited.
Suitable for: Planned travelers who want to withdraw directly before departure.

Option 4: Foreign Currency ATM Withdrawal (Most Flexible)

Use a chip-enabled bank card at foreign currency ATMs to withdraw JPY cash directly, operating 24/7, with only 5 TWD fee for interbank transactions. SFCU’s foreign currency ATM limit is 150,000 TWD per day, with no exchange fee. Denominations are fixed at 1,000/5,000/10,000 JPY. Estimated loss: 800-1,200 TWD.

Advantages: Instant withdrawal, high flexibility, low interbank fee.
Disadvantages: Limited locations (~200 nationwide), cash may run out during peak hours.
Suitable for: Busy professionals who need urgent cash without visiting the counter.

Cost Comparison for 50,000 TWD Exchange

Is It Worth Exchanging JPY Now?

Short answer: Worth it, but do it in installments.

The TWD/JPY rate at 4.85 has hit this year’s high, up 8.7% from 4.46 at the start of the year. The Bank of Japan’s rate hike expectations are rising, causing short-term fluctuations around 154-155, but medium to long-term forecasts suggest a return below 150.

For investment purposes, JPY is one of the three major safe-haven currencies (alongside USD and CHF), suitable for hedging against Taiwan stock market volatility. However, short-term arbitrage carries risks, so it’s recommended to buy in parts rather than all at once.

Statistics show that in the second half of the year, Taiwan’s forex demand increased by 25%, mainly driven by travel recovery and hedging needs.

After Exchanging JPY, Let Your Money Work

Once JPY is acquired, you can consider four investment options:

1. JPY Fixed Deposit (Conservative)
E.SUN, Taiwan Bank foreign currency accounts, starting from 10,000 JPY, with annual interest rates of 1.5-1.8%.

2. JPY Savings Insurance (Mid-term Hold)
Cathay, Fubon Life offer JPY insurance policies with guaranteed interest rates of 2-3%.

3. JPY ETFs (Growth-oriented)
Yuanta 00675U, 00703 track the JPY index, with 0.4% annual management fee, available for fractional investing via broker apps.

4. Forex Swing Trading
Trade USD/JPY, EUR/JPY on forex platforms, capturing rate fluctuations, with long/short positions, 24-hour trading, suitable for experienced investors.

Quick FAQs for Beginners

What’s the difference between cash rate and spot rate?
Cash rate is the price for physical bills, settled immediately but less favorable (1-2% worse). Spot rate is for T+2 electronic settlement, more favorable but takes time.

How much JPY do I get for 10,000 TWD?
At December 10, 2025 cash selling rate of 4.85, about 48,500 JPY; at spot selling rate of 4.87, about 48,700 JPY.

What to bring for in-branch exchange?
ID + passport (foreigners bring passport + residence permit). If booked online, also bring transaction notice. Large amounts over 100,000 TWD may require source of funds declaration.

Foreign currency ATM withdrawal limit?
Post-2025 regulations, most banks’ daily limit is 100,000-150,000 TWD, with single transaction limits of 20,000 TWD, depending on the bank. It’s advisable to split withdrawals to avoid stockouts.

Lazy Summary

If you want to minimize costs and maximize gains from JPY exchange, the core advice is: Buy in installments + don’t leave it idle after buying.

Beginners are recommended to start with “Taiwan Bank online exchange + airport pickup” or “Foreign currency ATM,” then transition into fixed deposits, ETFs, or swing trading based on needs. This way, you can enjoy cost-effective travel and add a layer of asset protection during market turbulence.