2025 Japanese Yen Exchange Guide: 4 Must-Know Withdrawal Methods Before Going Abroad

The NT$ to Japanese Yen exchange rate has reached around 4.85, and many people plan to exchange their yen before going abroad. But do you know? Exchanging 50,000 NT$ using the wrong method could cost you an extra 1,500 NT$, enough to buy several cups of bubble tea.

We’ve compiled the latest Japanese Yen exchange guide for you, including a comparison of the true costs of four withdrawal methods, and an often overlooked but very important question—How much cash can you carry abroad?

Why is it worth exchanging for Yen? Not just for travel and leisure

When it comes to foreign currencies, Taiwanese people’s first choice is usually Yen. The reasons behind this go far beyond simply “liking to visit Japan.”

Tourism, shopping代理, studying abroad—everyday consumption needs

When traveling to Tokyo, Osaka, Hokkaido, many small shops, convenience stores, and restaurants only accept cash, with credit card penetration at only 60%. People who like buying Japanese cosmetics, clothing, or anime merchandise often pay directly in Yen to Japanese shopping agents or online sellers. Those planning to study or work in Japan also exchange currency in advance to avoid extra costs caused by exchange rate fluctuations.

Financial market perspective—another safe-haven asset choice

The Yen is one of the world’s three major safe-haven currencies alongside USD and CHF. Japan’s economy is stable, and its government debt is relatively manageable. During global market turbulence, funds tend to flow into Yen for protection. During the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in a week, while the stock market fell by 10%—a real-world example of its safe-haven function.

For Taiwanese investors, holding a certain proportion of Yen assets can effectively hedge against Taiwan stock market volatility in a depreciating NT$ environment.

2025 Yen exchange rate status: Is now a good time to exchange?

As of December 10, 2025, NT$ to Yen is about 4.85, meaning 1 NT$ can buy 4.85 Yen. Compared to the 4.46 at the start of the year, Yen has appreciated by about 8.7%, which is a significant exchange gain for Taiwanese investors.

Recent observations show that Taiwan’s foreign exchange demand in the second half of the year increased by 25%, mainly driven by travel recovery and institutional investors’ hedging needs.

Is it cost-effective to exchange Yen now? The answer is: Yes, but in installments.

The Yen exchange rate remains within a relatively wide fluctuation range. The US has entered a rate-cut cycle, which could support the Yen. Meanwhile, the Bank of Japan (BOJ) is on the verge of raising interest rates—recent hawkish comments by Governor Ueda Kazuo pushed market expectations of a rate hike to 80%, with a 0.25 basis point increase to 0.75% expected at the December 19 meeting (a 17-year high), and Japanese government bond yields hitting 1.93%, the highest in 17 years.

USD/JPY has fallen from the high of 160 at the start of the year to around 154.58, likely fluctuating around 155 in the short term, but in the medium to long term, further declines below 150 are forecasted.

For investment purposes, staggered exchange can effectively reduce risk. Short-term fluctuations of 2-5% are possible, so it’s advisable not to exchange all at once, but to gradually enter according to your plan.

Four Yen withdrawal methods: which is most cost-effective?

Method 1: Bank counter cash exchange—most traditional, highest cost

Exchange NT$ cash directly at a bank or airport for Yen cash. This uses the “cash selling rate,” usually 1-2% worse than the spot rate, plus some banks’ handling fees, making it relatively expensive.

For example, Taiwan Bank’s cash selling rate on December 10, 2025, is about 0.2060 NT$/Yen (1 NT$ = 4.85 Yen). Some banks also charge a fixed fee of NT$100-200.

Exchanging NT$50,000 this way costs approximately NT$1,500-2,000.

Suitable for: Urgent cash needs at the airport, small amounts, or travelers unfamiliar with online procedures.

Method 2: Online exchange + foreign currency account—suitable for investors monitoring rates

Use mobile banking apps or online banking to convert NT$ into Yen in a foreign currency account at the “spot sell rate” (about 1% better than cash selling rate). If you want to withdraw cash, you can do so at ATMs or counters, but will incur additional exchange fees (starting around NT$100 equivalent).

This method is suitable for investors who buy Yen in batches when the rate is low (e.g., NT$ to Yen below 4.80), and can also combine with Yen fixed deposits (currently around 1.5-1.8% annual interest) for stable returns.

Exchanging NT$50,000 costs about NT$500-1,000.

Suitable for: Those with foreign exchange accounts, long-term holdings, or Yen investment plans.

Method 3: Online currency exchange + airport pickup—best before departure

No need to open a foreign currency account. Simply fill in the currency, amount, pickup branch, and date on the bank’s website. After remittance, bring your ID and transaction notification to pick up in person. Taiwan Bank and Mega International Bank offer this service, with appointments available at Taoyuan Airport branches.

Taiwan Bank’s “Easy Purchase” online exchange has no handling fee (if paid via TaiwanPay, only NT$10), with about 0.5% better rates. Taoyuan Airport has 14 Taiwan Bank outlets, including 2 open 24 hours, very convenient.

Exchanging NT$50,000 costs about NT$300-800.

Suitable for: Planned travelers who want to complete currency exchange before departure and need convenient airport pickup.

Method 4: Foreign currency ATM—24/7 cash withdrawal

Use chip-enabled bank cards at foreign currency ATMs to withdraw Yen cash directly. Available 24 hours, with cross-bank withdrawal fees of only NT$5. If using a cross-bank card, the daily withdrawal limit is NT$150,000.

However, there are only about 200 foreign currency ATMs nationwide, with fixed denominations of 1,000, 5,000, and 10,000 Yen, and cash shortages during peak times (especially at airports).

Exchanging NT$50,000 costs about NT$800-1,200.

Suitable for: Urgent, last-minute needs, no time to visit banks, tight departure schedule.

Cost comparison table of the 4 exchange methods

How much cash can you carry abroad?—Important legal restrictions

Many ask: “I’ve exchanged Yen, how much cash can I carry when traveling?” This relates to customs declaration.

Departing from Taiwan: Carrying cash or equivalent securities over NT$100,000 must be declared to customs. After exchanging to Yen, if exceeding this amount, be sure to declare.

Entering Japan: Japanese law requires declaration if carrying cash over 1 million Yen (about NT$200,000). Failing to declare over this amount can result in fines.

Practical tips:

• Distribute cash and cards, use cards or transfers for most Yen
• Check cash limits of your destination country beforehand
• Declare excess amounts proactively to avoid suspicion of smuggling or money laundering

After exchanging Yen—don’t let it sit idle

If you don’t plan to travel immediately after exchanging Yen, consider some ways to increase its value:

Yen fixed deposit: Open a foreign currency account online with a minimum of 10,000 Yen, annual interest rate 1.5-1.8%, very low risk, suitable for conservative investors.

Yen insurance policies: Yen savings insurance offered by life insurers, with guaranteed interest rates of 2-3%, suitable for medium-term holding (3-5 years).

Yen ETFs: Such as Yuanta 00675U, tracking Yen index performance, can be bought in fractional shares via brokerage apps, suitable for regular dollar-cost averaging.

Forex trading: Trade USD/JPY or EUR/JPY on forex platforms, suitable for experienced traders, offering long/short positions, 24-hour trading, high leverage.

The Bank of Japan’s rate hikes are positive for Yen in the short term, but global arbitrage unwinding or geopolitical tensions (like Taiwan Strait issues) could exert pressure. If diversification is your goal, Yen ETFs are a balanced choice, with annual management fees of only 0.4%.

Common questions quick answers

Q: What’s the difference between cash rate and spot rate?

Cash rate applies to physical cash transactions, with worse rates (1-2% worse than market). Spot rate is the forex market trading price, settled T+2, more favorable. Travelers usually use cash rate; investors prefer spot rate.

Q: How much Yen can I get with NT$10,000?

Using Taiwan Bank’s December 10, 2025, rate of 0.2060 NT$/Yen, NT$10,000 can buy about 48,500 Yen. At the spot rate (~4.87), about 48,700 Yen—difference less than 200 Yen.

Q: What ID do I need for counter exchange?

ID card + passport (or residence permit). If pre-booked online, also bring transaction notification. Under 20 needs parent’s accompaniment and consent. Large exchanges over NT$100,000 may require source declaration.

Q: What’s the daily withdrawal limit at foreign currency ATMs?

Varies by bank. CTBC: equivalent NT$120,000/day. Taishin: NT$150,000/day. E.SUN: NT$50,000 per transaction, NT$150,000/day (including debit). It’s recommended to split withdrawals or use your own bank card to avoid cross-bank fees.

Summary: Two key principles for smart currency exchange

Yen has evolved from just “travel pocket money” to a multi-functional asset for hedging and investment.

Whether planning to visit Japan next year or wanting to hedge against NT$ depreciation by shifting some funds into Yen, remember the two principles—staggered exchange + don’t leave it idle after exchanging—to minimize costs and maximize returns.

Beginners can start with “Taiwan Bank online exchange + airport pickup” or “foreign currency ATM,” then progress to fixed deposits, ETFs, or even swing trading based on needs. This way, you not only enjoy more cost-effective travel but also add a layer of asset protection amid global market turbulence.