How to choose Japanese Yen exchange? The 4 major channels and their costs revealed for 2025

The NT$ to JPY exchange rate has reached 4.85, up from 4.46 at the beginning of the year, a cumulative appreciation of 8.7%, making it a good time to exchange for Japanese yen. But the key question is: what’s the most cost-effective way to exchange? How much NT$ is equivalent to 10,000 JPY, and how much is the cost difference? We use the latest data to help you figure it out.

Is it worthwhile to exchange for JPY now? Market analysis

By December 2025, the yen will experience renewed volatility. Recently, Bank of Japan Governor Ueda Kazuo’s hawkish comments have pushed up expectations of interest rate hikes to 80%, with a projected increase of 0.25 basis points to 0.75% on December 19 (a 30-year high). Japanese government bond yields have hit a 17-year high of 1.93%. Meanwhile, USD/JPY has fallen from the year’s high of 160 to around 154.58.

In simple terms: It’s okay to exchange yen now, but doing it in installments is better than a one-time full exchange.

There are two reasons: First, as one of the world’s three major safe-haven currencies (along with USD and Swiss Franc), the yen can hedge against Taiwan stock market fluctuations during global market turbulence; second, with the Bank of Japan’s rate hike imminent and long-term optimism, short-term arbitrage closing risks may cause exchange rate fluctuations of 2-5%.

Taiwan’s foreign exchange demand increased by 25% in the second half of the year, mainly driven by tourism recovery and hedging needs. For investment purposes, it is recommended to enter gradually, especially when the NT$ to JPY rate is below 4.80, and continue to build positions.

Four ways to exchange for JPY: Cost and applicable scenarios overview

Method 1: Bank counter exchange (highest cost)

Carry NT$ cash directly to a bank branch or airport counter to exchange for yen cash. This is the most traditional and straightforward method, but because it uses the “cash selling rate” (about 1-2% worse than the spot rate), the overall cost is the highest.

For example, according to Taiwan Bank’s rate on December 10, 2025, the cash selling rate is approximately 0.2060 NT$ per 1 JPY (about 4.85 JPY per NT$). Exchanging 50,000 NT$, estimated loss is around 1,500-2,000 NT$.

Advantages: Safe, denominations available, staff assistance on-site
Disadvantages: Exchange rate spread, limited operating hours (weekday 9:00-15:30), possible service fees
Suitable for: Small amounts, urgent airport needs, unfamiliar with online operations

Major banks’ cash selling rates and fees (2025/12/10):

Method 2: Online exchange and cash withdrawal (moderate cost)

Use online banking or app to convert NT$ into JPY at the “spot selling rate” (about 1% better than cash selling rate) and deposit into a foreign currency account. If cash is needed, withdraw at counters or foreign currency ATMs, incurring additional fees (starting from around 100 NT$).

For example, E.SUN Bank’s app-based exchange and withdrawal incurs a fee equal to the difference between spot and cash rates, with a minimum of 100 NT$. Exchanging 50,000 NT$ estimated loss is around 500-1,000 NT$.

This method suits long-term observers of exchange rates who want to buy in installments at low points.

Advantages: 24-hour operation, better exchange rates, allows averaging costs over time
Disadvantages: Need to open a foreign currency account first, withdrawal fees (interbank 5-100 NT$)
Suitable for: Experienced forex traders, regular foreign currency account users, those considering yen deposits

Method 3: Online currency exchange with airport pickup (most convenient)

No need for a foreign currency account. Fill in currency, amount, pickup branch, and date on the bank’s website. After transfer, bring ID and transaction notice to the branch for pickup. Taiwan Bank and Mega Bank offer this service, with appointment options at airports.

Taiwan Bank’s “Easy Purchase” online exchange is fee-free (Taiwan Pay payment costs only 10 NT$), with about 0.5% exchange rate advantage. Exchanging 50,000 NT$ estimated loss is around 300-800 NT$.

This is the best pre-departure booking method. Taoyuan Airport has 14 Taiwan Bank outlets (2 open 24 hours), providing maximum convenience.

Advantages: Favorable rates, often no fees, airport pickup option
Disadvantages: Need to book 1-3 days in advance, pickup during operating hours, branches cannot be changed
Suitable for: Planned travelers who want to pick up at the airport

Method 4: Foreign currency ATM withdrawal (most flexible)

Use a chip-enabled bank card to withdraw yen cash from foreign currency ATMs. 24-hour operation, cross-bank fee only 5 NT$. Limited to major currencies like JPY, with about 200 ATMs nationwide. Exchanging 50,000 NT$ estimated loss is around 800-1,200 NT$.

SinoPac Bank’s foreign currency ATMs allow withdrawal from NT$ accounts, with a daily limit of 150,000 NT$, no exchange fee. Note that Japan’s ATM withdrawal services will be adjusted by the end of 2025, requiring an international card (Mastercard/Cirrus).

Due to limited locations and denominations (fixed 1,000/5,000/10,000 JPY), cash may run out during peak times (e.g., airports). It’s recommended not to wait until the last minute to withdraw.

Advantages: Instant withdrawal, high flexibility, deducts from NT$ account with low fees
Disadvantages: Limited locations and denominations, possible cash shortages during peak hours
Suitable for: Those with no time to visit banks, need immediate cash

Complete comparison of 4 methods

After exchanging for JPY: Investment allocation suggestions

If you’ve already exchanged yen, don’t let the money sit idle without interest. You can shift to steady income or growth investments. Here are four common options:

1. Yen fixed deposit (conservative)
Open an FX account with E.SUN or Taiwan Bank online, deposit from 10,000 JPY, with annual interest rates of 1.5-1.8%. Suitable for capital preservation.

2. Yen insurance policy (medium-term hold)
Buy savings insurance from Cathay United or Fubon Life, with guaranteed interest rates of 2-3%, suitable for holding over 5 years.

3. Yen ETFs (growth-oriented)
Yuan Da 00675U, 00703, etc., tracking yen indices, can be bought as fractional shares via broker apps. Management fee around 0.4% annually, suitable for those optimistic about long-term yen appreciation.

4. Yen forex trading (swing trading)
Trade USD/JPY or EUR/JPY directly. Advantages include two-way trading, 24-hour market, and small capital requirements. Suitable for experienced traders. Platforms like Mitrade offer zero commissions, low spreads, and stop-loss/take-profit tools.

While yen has hedging features, it also experiences two-way volatility. BOJ rate hikes are positive, but global arbitrage unwinding or geopolitical conflicts (Taiwan Strait/Middle East) could suppress the yen. Risk management is always the top priority.

How much is 10,000 JPY in NT$? Calculation method

Exchange rate formula: JPY amount = NT$ amount × current rate

Using Taiwan Bank’s rate on December 10, 2025:

• Cash selling rate is about 4.85 (1 NT$ = 4.85 JPY)
• 10,000 NT$ can exchange for approximately 48,500 JPY

Using spot selling rate (about 4.87), it’s approximately 48,700 JPY, a difference of about 200 JPY (roughly NT$40).

Conversely, 10,000 JPY equals about NT$2,058 (using a rate of 0.2060). Different banks’ rates vary slightly; it’s recommended to check the latest official rates beforehand.

Quick FAQs

Q: What’s the difference between cash exchange rate and spot rate?
Cash rate applies to physical cash transactions, offering convenience but about 1-2% worse than the spot rate. Spot rate is used for electronic transfers, interbank settlements, import/export, or personal foreign currency accounts, offering better rates close to international market prices, but settlement takes T+2 days.

Q: What documents are needed to exchange foreign currency?
For residents, ID + passport; for foreigners, passport + residence permit. For online booking, transaction notice is also required. Minors under 20 need parental consent. Large amounts over NT$100,000 may require source of funds declaration.

Q: What is the daily withdrawal limit at foreign currency ATMs?
Limits vary by bank (as of October 2025, many banks have strengthened anti-fraud measures). CTBC: NT$120,000/day; Taishin: NT$150,000/day; E.SUN: NT$50,000 per transaction, NT$150,000 per day. It’s advisable to split withdrawals or use your own bank card to avoid cross-bank fees (5 NT$/transaction).

Q: Why exchange for yen?
Yen has three values: travel expenses (60% cash usage in Japan), shopping, hedging (Japan’s stable economy, low debt, safe haven during turbulence), and arbitrage trading (US-Japan interest rate differential of 4.0%). During the Russia-Ukraine conflict in 2022, the yen appreciated 8%, buffering a 10% stock market decline, demonstrating its hedging power.

Summary

The yen has evolved from a purely travel “pocket money” currency to an asset with hedging functions. Whether for next year’s Japan trip or hedging against NT$ depreciation, mastering “gradual exchange + not leaving money idle after exchange” can minimize costs and maximize gains.

Beginners are advised to start with “Taiwan Bank online exchange + airport pickup” or “foreign currency ATM,” then transfer yen into deposits, ETFs, or forex swing trading based on needs. This way, you can enjoy more cost-effective travel and add a layer of protection during global market turbulence. Now you know exactly how much 10,000 yen is in NT$ and how to exchange it most cost-effectively.