JPY/INR is a cross rate derived from USD/JPY and USD/INR. Because 1 Yen is worth a small fraction of a Rupee, this rate is usually quoted per 100 Yen rather than per single Yen for readability.
Convert Japanese Yen to Indian Rupee using the live rate above — updates automatically as the price refreshes.
Live mid-market rate, not a remittance or transfer quote — banks and money changers add their own margin on top of this.
The ranges below aren't a prediction of where JPY/INR (Yen Rupee) will land — they're what its own typical daily move (0.6–0.9%) implies, projected forward from the live price above. Read them as a probability band, the same way you would the Tomorrow Prediction section.
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JPY/INR is derived by dividing USD/INR by USD/JPY. Since one Japanese Yen is worth well under one Rupee — typically around ₹0.55–₹0.60 — the rate is often displayed per 100 Yen (roughly ₹55–₹60) for practical readability, similar to how JPY is quoted against most currencies globally.
The Japanese Yen has for decades served as the world's primary "funding currency" for carry trades — investors borrow cheap Yen to invest in higher-yielding assets globally. When these carry trades unwind suddenly (as in August 2024), the Yen strengthens sharply against nearly every currency, including the Rupee. This means JPY/INR can move significantly on a pure global risk-off event with no India-specific or Japan-specific news driving it.
The Bank of Japan's move to raise its policy rate to 0.5% in January 2025 — ending nearly three decades of ultra-loose monetary policy — has structurally supported the Yen versus most currencies, including the Rupee. Continued BOJ rate hikes would be expected to push JPY/INR higher over time, all else equal, as the Yen's traditional role as a low-yielding funding currency diminishes.
Since the Yen is the world's primary carry trade funding currency, sudden JPY strength (from a carry unwind) shows up in JPY/INR even when nothing India-specific has changed.
Japan is one of India's largest sources of foreign direct investment, particularly in automotive manufacturing (Suzuki's deep partnership with Maruti), infrastructure (the Mumbai-Ahmedabad bullet train project financed substantially by Japanese soft loans), and industrial parks. These large capital flows require JPY-to-INR conversion at scale, making this cross rate operationally significant beyond retail currency trading.
During periods of acute global market stress — the August 2024 carry unwind being the clearest recent example — the Yen tends to strengthen sharply against risk-sensitive currencies including the Rupee, since capital flees to traditional safe havens and carry trades reverse simultaneously. Indian traders who also watch USD/JPY and Nikkei 225 get an early warning signal for JPY/INR moves through this same global risk-off mechanism.
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