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JAPAN (JPY) JAPANESE YEN
The yen is the currency of Japan and is the third most traded foreign currency
in the world after euros and dollars. The international code of the yen is JPY
and it is represented by the symbol ‘¥’. Large quantities of yen are generally
counted in multiples of 10,000.
Currently in circulation
Coins currently in circulation are in the denominations of ¥1, ¥5, ¥10, ¥50,
¥100 and ¥500. The current banknote series includes the denominations of ¥1000,
¥2000, ¥5000 and ¥10000.
Exchanging facilities and traveller’s cheques
Foreign currency can be converted in banks, licensed exchange offices and the
international airports. Traveller’s cheques are accepted by major banks, hotels,
Japanese inns and stores in the key cities.
Using credit/debit cards
The major cities accept credit cards such as the American Express, Visa, Diners
and Mastercard but outside these cities you have to pay in local cash. It must
be noted that most of the Japanese ATM’s do not accept international credit
cards. ATM’s found in post offices, airports and some department stores are the
only places that will accept foreign credit and debit cards but do not be too
concerned, the numbers of these ATM’s run into thousands.
Restrictions
There is no limit to the amount of foreign currency that you can take in or out
of Japan but if the amount exceeds 1,000,000 Yen including cheques, securities
and other currencies, then you are required to declare it at the customs.
Japan: An overview
Japan consists of four major islands surrounded by 4000 smaller islands. It’s
rich culture and traditions are reflected through its varied architecture, the
unspoiled beauty of their gardens, the exclusively designed fortresses of the
15th and 16th centuries, the commendable Shinto and Buddhist shrines, the exotic
floral art and not to forget their graceful and elaborate Tea ceremony. All
these together make Japan a most attractive and interesting place to visit.
Japan is the most expensive country in the world. The cost of a medium budget
hotel can be around 5000 Yen/£37/$53/Є42 to 10000 Yen/£74/$106/Є84 for a double
room per night whereas a high budget Japanese inn, including two meals would
cost somewhere between 10000 Yen/£74/$106/Є84 to 30000 Yen/£223/$319/Є253.
Dinner at a medium budget restaurant excluding drinks could range between 1000
Yen/£7/$10/Є4 to 2000 Yen/£15/$21/Є17. An upmarket restaurant serving sushi and
other exotic Japanese food can cost 5000 Yen/£37/$53/Є42 upwards per person.
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