Exchanging japanese yens into US dollars for an upcoming trip to USA, how to get the best rate?
I will be shortly travelling to the United States, and I just found some japanese Yen bills that were sleeping in a drawer, for a significant amount.
I would like to change them into US Dollars for the upcoming trip.
In order to get the most out of that sum, which currency exchange office along my route is likely to charge the smallest commissions, between the following places?
- Geneva airport
- New York City airports
- Somewhere in NYC as we will be transferring between airports
- Orlando airport
- Somewhere in Orlando, any place that offers currency exchange
Best Answer
You always lose money when exchanging currency because of the bank overhead. Unless you have the old receipt (which with some companies allows you exchange back at a lower rate), then you want to limit the number of transactions.
Rather than exchanging Yen->Dollars (which for the company will be an internal Yen->Euro->Dollars), exchange Yen->Euro and deposit the money. Then in the USA, use a no-fee ATM card to withdraw your Euro as dollars. (This assumes you have a no-fee ATM card).
Alternately, find some departing Japanese tourists at the airport and offer to give them yen for the euro they no longer need.
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What is the easiest way to convert yen to dollars?
If you have 500 yen, multiply 500 by . 01271. In this example, 500 yen amounts to $6.35. Most currency exchange sites have currency exchange calculators to do the math for you.Is it better to exchange yen to dollars in Japan or US?
For instance, you will get a better exchange rate for yen in Southeast Asian countries than in Japan. But if you are traveling from the United States, definitely wait to exchange your money. You will get a much better rate in Japan for your dollars than in the US.How to work out currency exchange rate?
If you know the exchange rate, divide your current currency by the exchange rate. For example, suppose that the USD/EUR exchange rate is 0.631 and you'd like to convert 100 USD into EUR.To accomplish this, simply multiply the 100 by 0.631 and the result is the number of EUR that you will receive: 63.10 EUR.Where can I exchange Japanese yen for U.S. dollars?
The most important banks that generally offer the currency exchange service are MUFJ, SMBC and Mizuho, often through offices dedicated exclusively to currency exchange that you can find at airports and in various other tourist locations.Understanding Money in Japan | U.S. Dollars to Japanese Yen
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