The real EUR/JPY rate
The interbank (mid-market) rate as the basis; the ibani margin, from 0.40% to 0.15% depending on the amount, is shown separately.
EUR → JPY · Real-time rateConvert euros
into Japanese yen (EUR → JPY)
Change your euros (EUR) into Japanese yen (JPY) at the real interbank rate, in real time. Ideal to prepare a trip to Japan or settle a purchase in yen, with a margin from 0.40% to 0.15% and no hidden fees.
EUR → JPYCurrency pair
Real timeMarket rate
0.15%Margin from
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The EUR/JPY conversion in brief
Convert euros into Japanese yen, at the right rate
The essentials for changing your EUR into JPY with no nasty surprise on the rate or the fees.
A margin from 0.15%
Transparent and sliding, up to 10× cheaper than a bank. No hidden fees.
A real rate for Japan
Travel, e-commerce or paying a supplier: enjoy the market rate (+ margin from 0.15%) on your yen.
A reliable Swiss partner
ibani SA, founded in Geneva in 2018, a financial intermediary affiliated with SO-FIT, a self-regulatory organisation recognised by FINMA.
What you really pay
EUR → JPY: ibani, bank or exchange office?
On a yen exchange, the margin applied to the rate makes all the difference to the amount you receive.
| Criterion | ibani | Bank | Exchange office |
|---|---|---|---|
| Starting rate | Real interbank | "In-house" rate | "In-house" rate |
| Exchange margin | 0.40% | ~1.5 to 2% | Often > 2% |
| Transfer fees | Transparent | Variable | — |
| Margin on 1'000 EUR* | ~4 EUR | ~15 to 20 EUR | > 20 EUR |
| 100% digital tracking | Yes | Partial | No |
*Indicative orders of magnitude for a 1'000 EUR exchange into yen. See the details on our Rates page.
Rate trend
Live EUR / JPY exchange rate
Follow the pair's trend to choose the right moment for your exchange.
Conversion tables
How much is 1 EUR in JPY (and the other way round)?
Indicative amounts, ibani margin included, updated continuously.
Reference rate as of 7 October 2026; the rate applied is the one at the time of the order.
How to convert
Your EUR changed into JPY, in 3 steps
Create your ibani account for free
100% digital sign-up in 5 minutes, with no opening or account maintenance fees.
Fund your account in euros
Top up your ibani account in EUR by transfer, then choose the amount to convert into yen.
Convert into yen at the real rate
ibani changes your EUR into JPY at the market rate, plus a margin of 0.40% to 0.15% depending on the amount, and executes your transfer to the beneficiary of your choice.
USD
GBP
CHF
CAD
SGDMarkets · updated 28 August 2026
EUR/JPY: what has moved in recent months
Two central banks tightening at once, for different reasons: the ECB against an imported energy shock, with a deposit rate at 2.25% since 11 June; the Bank of Japan to exit two decades of near-zero rates, at 1.00% since June, with roughly an 87% chance of a move to 1.25% in September.
EURThe ECB tightened in June, then waited
On 11 June 2026 the European Central Bank raised its deposit rate by 25 basis points to 2.25% — its first hike since 2023 — in response to an imported energy shock, taking the main refinancing rate to 2.40%. On 23 July it left all three rates unchanged without committing to a path. Euro area inflation came in at 2.9% in July after 2.8% in June, and August PMIs moved clearly back into expansion (composite at 52.1). Rate markets price a further hike on 10 September at roughly 80%.
JPYA rate hike and an FX intervention
The Bank of Japan lifted its policy rate to 1.00% in June 2026, then paused in July; markets now price a move to 1.25% in September at around 87%. The summer was above all marked by a large-scale currency intervention, estimated at some 75 billion dollars, to defend the line at 160 yen to the dollar — backed, unusually, by the US Treasury. The yen went from about 164 to 155 per dollar before drifting back towards 158–159.
EUR → JPY
What it means for you
The summer's currency intervention, backed by a US Treasury that bought yen against euros, is a reminder that Tokyo will not let its currency drift without reacting. Moves on this pair can be abrupt: spreading conversions is worth more here than elsewhere.
Benchmark on 28 August 2026: 1 EUR ≈ 185.39 JPY. The converter at the top of this page shows the live rate.
Sources: ECB, monetary policy decisions of 11 June and 23 July 2026 · Eurostat, euro area July inflation confirmed 19 August 2026 · S&P Global, euro area flash PMI of 21 August 2026 · Bank of Japan, June and July 2026 monetary policy meetings · OMFIF, analysis of Japan's currency intervention, 7 August 2026.
The economics of the pair
EUR/JPY: the ECB versus the Bank of Japan
The rate between the euro (EUR) and the Japanese yen (JPY) is one of the most traded pairs in the world. Its dynamics are first and foremost driven by the monetary policy gap between two central banks: the European Central Bank (ECB) and the Bank of Japan (BoJ).
For many years, the Bank of Japan kept interest rates very low, even negative, while the ECB gradually raised its own. This yield gap encouraged many investors to borrow in yen to invest elsewhere (the "carry trade"), which weighed lastingly on the JPY and pushed EUR/JPY higher.
The yen nonetheless retains its safe-haven status: during episodes of strong risk aversion on the markets, it can strengthen rapidly. The pair therefore remains sensitive to two forces: the ECB/BoJ rate gap on one side, and risk appetite on the other. A more marked tightening of Bank of Japan policy is one of the main factors likely to support the yen against the euro.
Read also: our guides on how to calculate an exchange rate and choose the right time to exchange.
Written by Brice Delhome.
Frequently asked questions
Frequently asked questions about EUR/JPY exchange
The EUR/JPY rate mainly reflects the monetary policy gap between the European Central Bank (ECB) and the Bank of Japan (BoJ). When the ECB keeps rates higher than the BoJ, the euro tends to appreciate against the yen. The pair also reacts to risk appetite: the yen, a safe-haven currency, often strengthens during periods of market tension.
For years, the Bank of Japan kept interest rates very low, even negative, while the ECB raised its own. This yield gap prompted many investors to sell yen in favour of better-paying currencies such as the euro, contributing to the weakening of the JPY. A lasting rebound of the yen depends on a tightening of BoJ policy.
There is no universal ideal moment. The EUR/JPY rate moves continuously with the markets and the decisions of the ECB and the Bank of Japan. The best approach is to follow the real rate in real time and trigger your exchange when the level suits you, rather than accepting a fixed rate with a hidden margin.
ibani applies a transparent margin from 0.40% to 0.15% on the real interbank rate, decreasing with amounts. There are no opening or account maintenance fees. Transfers to a yen account may, however, involve correspondent bank fees, which are independent of ibani. See the details on the Rates page.
Change your euros
into yen at the right rate.
Convert your EUR into JPY at the real interbank rate (+ margin from 0.15%) and transfer with no hidden fees. Free account opening, 100% digital, in 5 minutes.✓ Real interbank rate · ✓ Margin from 0.15% · ✓ Affiliated with SO-FIT (SRO)
* Transfers in currencies other than EUR and CHF may be subject to correspondent bank fees.
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ibani SA is affiliated with SO-FIT as a financial intermediary within the meaning of Article 2 para. 3 of the Anti-Money Laundering Act (AMLA). SO-FIT is a self-regulatory organisation recognised by the Swiss Financial Market Supervisory Authority (FINMA).