$100 USD is equivalent to approximately 13,700 Japanese Yen (JPY) as of October 26, 2023. This conversion rate can fluctuate daily depending on market conditions.
Factors Affecting the Exchange Rate:
- Market demand and supply: The value of the Japanese Yen can change based on the demand for and supply of the currency.
- Interest rates: Interest rates in Japan and the United States can influence the exchange rate.
- Economic performance: The strength of the Japanese and US economies can impact the value of their respective currencies.
- Political stability: Political events in both countries can affect the exchange rate.
Using the Exchange Rate:
- Travel: To estimate the cost of goods and services in Japan, multiply the price in USD by the current exchange rate.
- Online shopping: When purchasing goods or services online from Japanese websites, the price will be converted to USD at the time of checkout.
- Investments: Investors can use the exchange rate to determine the value of their Japanese Yen holdings.
It's important to note that this is just an approximation, and the actual exchange rate may vary depending on the specific bank or exchange service used.
