Is exchanging NT$10,000 for JPY worth it? Understand the 4 major currency exchange channels and the best money-saving strategies in one go.

How much JPY can NT$10,000 exchange for? The latest exchange rate reveal for 2025

As of December 10, 2025, the NT$ to JPY exchange rate reached 4.85, meaning 1 NT$ can be exchanged for 4.85 JPY. If you have NT$10,000 and use the best exchange rate, you can get approximately 48,700 JPY — but the key is, choosing the wrong exchange method might result in a loss of NT$400 to NT$2000.

At the beginning of this year, the NT$ to JPY rate was only 4.46, and now it has appreciated by 8.7%. For those wanting to exchange for JPY, this is actually a good timing. But more importantly, selecting the right exchange channel can minimize costs.

Why are more and more Taiwanese exchanging for JPY?

Many think exchanging for JPY is just for traveling abroad, but it’s actually much more than that.

Travel and daily needs continue to rise — many places in Japan still primarily use cash (credit card penetration is only 60%), and purchasing agents or Japanese online shopping often require direct JPY payments.

More importantly, financial attributes: JPY is one of the three major safe-haven currencies globally (the other two are USD and Swiss Franc). When stock markets fluctuate, funds tend to flow into JPY for protection. For example, during the Russia-Ukraine conflict in 2022, the JPY appreciated by 8% in a week, while the stock market fell by 10% — in other words, holding JPY can hedge against the decline of Taiwanese stocks.

Plus, the Bank of Japan recently adopted a hawkish rate hike stance (expected to rise to 0.75% in December, a 30-year high). The environment for JPY interest rates has improved, with fixed deposit annual yields reaching 1.5-1.8%, providing tangible returns for Taiwanese investors.

4 exchange methods compared: who’s the most cost-effective?

Many think they can only exchange at banks in person, but Taiwan offers 4 different channels with vastly different costs. Using NT$50,000 as an example, let’s see the differences.

Option 1: Bank counter cash exchange (most traditional, highest cost)

Bring cash NT$ to a bank or airport counter to exchange for JPY cash on the spot. Simple operation, but uses the “cash selling rate,” which is 1-2% worse than the market spot rate, plus some banks charge handling fees.

For example, Taiwan Bank offers a cash selling rate of about 0.2060 NT$/JPY (1 NT$ = 4.85 JPY), with no handling fee; but E.SUN Bank charges an extra NT$100, and Cathay United Bank NT$200.

Exchanging NT$50,000 this way results in a loss of NT$1500-2000.

Suitable for: urgent needs (like realizing at the airport), unfamiliar with online operations.

Option 2: Online exchange + withdrawal at counter or ATM (advanced method)

Complete currency conversion via bank app or online banking, converting NT$ into JPY in a foreign currency account, using a more favorable “spot selling rate” (about 1% better than cash rate). When cash is needed, go to a counter or ATM to withdraw, but additional withdrawal fees apply.

Advantages: 24/7 operation, can buy in batches for average cost, and watch exchange rates to decide timing.

Exchanging NT$50,000 this way costs about NT$500-1000.

Disadvantages: Need to open a foreign currency account first; withdrawal incurs cross-bank fees of NT$5-100.

Suitable for: those experienced with forex, wanting to invest in JPY regularly, or doing JPY fixed deposits.

Option 3: Online currency settlement + airport pickup (smartest approach)

No need to open a foreign currency account. Reserve currency online via bank website, specify pickup location (airport branch), complete transfer, then bring ID and transaction notice to pick up cash in person. Taiwan Bank’s “Easy Purchase” online settlement is fee-free (pay NT$10 via TaiwanPay), with a 0.5% better rate.

Main advantage: Taoyuan Airport has 14 Taiwan Bank outlets, 2 of which operate 24 hours — perfect for travelers.

Exchanging NT$50,000 this way costs only NT$300-800.

Suitable for: travelers planning to go abroad and want to withdraw directly at the airport — the standard pre-departure preparation.

Option 4: Foreign currency ATM withdrawal (fastest)

Use a chip-enabled financial card at foreign currency ATMs to withdraw JPY directly, available 24/7. Deducts from NT$ account with only NT$5 cross-bank fee. E.SUN Bank’s foreign currency ATMs have a daily limit of NT$150,000 equivalent, with no exchange fee.

Limitations: Only about 200 ATMs nationwide, with fixed denominations (1000/5000/10000 JPY). During peak times (like at airports), cash may run out.

Exchanging NT$50,000 this way costs about NT$800-1200.

Suitable for: urgent needs, no time to visit banks, or already holding NT$ in a foreign currency account.

Exchange cost comparison table (based on December 2025 data)

Best for beginners: “Online settlement + airport pickup” is the lowest cost, simplest process, especially suitable for those planning ahead.

Is it really worthwhile to exchange JPY now? Staggered entry is key

From 4.46 at the start of 2025 to 4.85 now, appreciating by 8.7%, the forex gains for Taiwanese investors are significant. In the second half of 2025, Taiwan’s forex demand increased by 25%, mainly driven by travel recovery and hedging needs.

But here’s a spoiler: exchanging now is indeed advantageous, but don’t exchange all at once.

The reason is simple — although JPY is a safe-haven currency, it still has short-term volatility. The US has just entered a rate-cut cycle, and the Bank of Japan’s hawkish rate hike expectations are rising (Governor Ueda recently signaled a hawkish stance, pushing market expectations of hikes to 80%). The USD/JPY has fallen from a high of 160 at the start of the year to 154.58, with short-term fluctuations possibly bringing it back to 155. Long-term forecasts suggest it could go below 150.

Risks of closing arbitrage trades: short-term fluctuations of 2-5%, so it’s recommended to enter in 3-4 installments. Even if prices fluctuate, the average cost remains more stable.

After exchanging NT$10,000 for JPY, what’s next? Don’t let your money sit idle

After exchanging for JPY, don’t leave it idle without interest. Consider some steady-income options:

1. JPY fixed deposit (most stable) Open a foreign currency account at E.SUN or Taiwan Bank, with a minimum of 10,000 JPY, earning 1.5-1.8% annual interest. No need to worry about exchange rates, just collect interest periodically.

2. JPY insurance policies (medium-term holding) Cathay and Fubon Life offer JPY savings insurance with guaranteed interest rates of 2-3%, suitable for 2-3+ years of capital allocation.

3. JPY ETFs (growth-oriented) For example, Yuanta 00675U tracks the JPY index, can be bought as fractional shares via brokerage apps for dollar-cost averaging, with an annual management fee of only 0.4%.

4. Forex trading (swing trading) Trade USD/JPY or EUR/JPY on forex platforms, with long and short options, 24/7 trading, small capital required, suitable for those confident in currency movements. Benefits include zero commission, low spreads, and rich trading tools (stop-loss, take-profit, trailing stops).

Key tips for currency exchange

Cash rate vs. spot rate difference?

Cash rate is for physical cash transactions, delivered immediately at banks, but usually 1-2% worse than the spot rate. The spot rate is settled T+2 in the forex market, much more favorable, used for electronic transfers or account transfers. In short, if you want cash, accept the cash rate; if you can wait 2 working days or deposit into an account, you get a better rate.

What to bring for foreign currency exchange?

For counter transactions, bring ID + passport (foreigners bring passport + residence permit). If you booked online, also bring transaction notice. Under 20 years old need parental accompaniment; large amounts over NT$100,000 may require source of funds declaration.

Daily withdrawal limit at foreign currency ATMs?

Starting October 2025, banks have adjusted limits. CTBC and Taishin Bank’s own cards have a daily limit of about NT$150,000 equivalent; E.SUN Bank’s own cards are stricter, with a daily limit of NT$150,000 but a single transaction cap of NT$50,000. Cross-bank card limits depend on issuing bank but are usually lower. It’s recommended to split withdrawals or use your own bank’s card to avoid cross-bank fees.

Summary: The golden rule of exchanging for JPY

JPY is no longer just “pocket money” for travel; it also functions as a hedge and investment asset.

Whether you plan to visit Japan next year or want to hedge against NT$ depreciation by shifting some funds into safe assets, mastering the principles of “staggered exchange + not leaving money idle after exchange” will help minimize costs and maximize returns.

Most practical advice for beginners: start with “Taiwan Bank online settlement + airport pickup” or “foreign currency ATM.” Then, based on your needs, transfer JPY into fixed deposits, ETFs, or even try forex swing trading. This way, you’ll not only enjoy more cost-effective travel but also gain an extra layer of protection during market turbulence.

Remember, exchanging NT$10,000 for JPY may not be a huge amount, but using the right method can save you hundreds, enough for a coffee — and good currency habits can save you thousands or even tens of thousands over time.