s3phis 0 Posted January 31, 2009 Share Posted January 31, 2009 Just a note: while there's "no fees" the difference between the BUY rate and the SELL rate is the bank/company's profits. The profit can come from the buy rate, sell rate or both. A number of converters will have good rates for BUY but bad for SELL... and vice versa. It's really up to research and knowing before-hand as to where has the best exchange rates. When you exchange at a bank, you're immediately using the rates that they set. The ATMs at convenience stores would most likely have worse rates. By Australian law, you're allowed to take out $10,000 (or equal value) of cash without any real paperwork. The last rate I was quoted while in Japan was 55yen to the dollar while I was offered 58.3 from an Australian shop. The Japanese post office and service is a private operation (as part of the long term plan of reducing the country's debts) so it's naive to think they'll give you the best rates. Your credit cards also offer convenience but the price does come from the rates. Last I recall, AMEX had pretty bad rates but if you're using your AMEX, I don't think the few yen difference per dollar is much of a concern . SHORT VERSION: Cash is better value but more effort and work. Credit cards are convenient but not always accepted and doesn't give the best value. Bank cards are a middle ground but you should be mindful of where you are exchanging your money. If you have the time and the access, I'd recommend finding a good conversion shop and doing it there before leaving for Japan (particularly since the AUD is more likely to keep dropping when you get there). Link to post Share on other sites
indosnm 0 Posted January 31, 2009 Share Posted January 31, 2009 Well the rates I have always got using my cards have pretty much matched the TT rates which are way better than the BUY rates. The research I've always done has pointed to buying $$$$(or Yen) in oz a more expensive exercise. Just dont use citi bank jp ATM cards os as they change from jpy - usd - the currency you want and get charged comm 2 times in the one trans. Link to post Share on other sites
s3phis 0 Posted January 31, 2009 Share Posted January 31, 2009 Bank TT rates are better than the note rates, that doesn't necessarily make them good rates. You can find a lot of independent exchanges that do better rates than both. If you have large figures, then it's best to go by bank and you can negotiate at the branch. Link to post Share on other sites
Borat 0 Posted February 14, 2009 Share Posted February 14, 2009 This may be just a little off topic but for what you buy in Japan at the moment with the current exchange rates, for example a can of coke or a beer. Would it be roughly the same, better or worse, when compared to what you would pay for that product in Australia? Link to post Share on other sites
Tubby Beaver 209 Posted February 14, 2009 Share Posted February 14, 2009 no....definitely in comparison to the UK. 1 UK Pound = roughly 130yen 1 pound could get you a can of coke and a snickers with perhaps pennies left over, but 130 yen over here would barely get you the can of coke Link to post Share on other sites
Borat 0 Posted February 15, 2009 Share Posted February 15, 2009 yeah, ahh, that doesn't really help me much mate, sorry. Any aussies able to help with this one..? Link to post Share on other sites
Ezorisu 0 Posted February 15, 2009 Share Posted February 15, 2009 Not sure what things cost in Aus, but in Japan, a 350ml can of Coke at a vending machine will run you about 120-150 yen, and a 350ml beer at a convenience store will run you around 350-450 yen. Look online for the current yen - $AUD exchange rate and do the math. Enjoy! Link to post Share on other sites
Tubby Beaver 209 Posted February 15, 2009 Share Posted February 15, 2009 Originally Posted By: VeryNice yeah, ahh, that doesn't really help me much mate, sorry. Any aussies able to help with this one..? yeah it does, 130 yen is the benchmark (it'll get you a can of coke). Find the exchange rate in AUD and then see if you can buy a can of coke for it Link to post Share on other sites
Borat 0 Posted February 16, 2009 Share Posted February 16, 2009 Yeah Ezorisu's post was more on the money towards the response I was after.. Sorry Tubby but you were a little unclear and a little confusing, with your first post. I understood your conversion "1 UK Pound = roughly 130yen" I know what the AUS JPY exchange is but when you wrote "130 yen over here would barely get you the can of coke" wasn't a definitive answer, well not for me anyway, either it does or it doesn't, don't know how big your margin is with 'barely' but in your last post its a definite 130 yen for a can of coke. So it's a little cheaper over there but not by much. Sorry if that comes across bad, I don't mean it to be, I'm appreciative of the help, just wanted to let you know where the translation was lost. Cheers! Link to post Share on other sites
Ezorisu 0 Posted February 16, 2009 Share Posted February 16, 2009 So VeryNice, how much is a can of Coke in Aus then? Coming from The States, I find that this particular commodity is more expensive in Japan than in The USA - I haven't bought a can recently, but the last time I got a 500ml bottle, it was around $1 USD (about 111-yen at 90-yen/$1USD). American beer is definitely cheaper than Japanese, but it isn't good! Link to post Share on other sites
thursday 1 Posted February 16, 2009 Share Posted February 16, 2009 I just had a can of coke. Lemon coke light it was. Luverly refreshing..... Link to post Share on other sites
thursday 1 Posted February 16, 2009 Share Posted February 16, 2009 and you'd better budget a lot more. 850 for a pint in a pub, 900 for a pint in Kogen mess hall 700 for a pint at 308 600 for a mug at Ace hill The beers have gotten a whole lot more expensive while still tasting the same. Link to post Share on other sites
Borat 0 Posted February 16, 2009 Share Posted February 16, 2009 Well 130 yen = roughly $2.10AUD and in Aus, as far as I know, 375ml can is bout $2.80ish, depends where you buy. Link to post Share on other sites
Ezorisu 0 Posted February 17, 2009 Share Posted February 17, 2009 I guess that's about the same general price all around (more or less). Interesting. Link to post Share on other sites
gareth_oau 2 Posted February 17, 2009 Share Posted February 17, 2009 Ive got 23000Y left over from my recent trip. anyone (in Perth?) want to buy it from me and cut out the middlemen? PM me Link to post Share on other sites
thursday 1 Posted February 17, 2009 Share Posted February 17, 2009 you've broken the golden rule. You're not supposed to have money left over. Link to post Share on other sites
Borat 0 Posted February 18, 2009 Share Posted February 18, 2009 my brother is leaving from perth on the 17th next month if thats not too late? You wont be able to exchange before hand though he works fifo and gets back on the 17th. let me know if you keen. Link to post Share on other sites
gareth_oau 2 Posted February 18, 2009 Share Posted February 18, 2009 Sonds good VeryNice, i'll let you know if Ive still got it then. And Rob yre right, but I prefer to use credit cards, rather than cash when I can, and also took too much cash with me as well Link to post Share on other sites
Borat 0 Posted February 18, 2009 Share Posted February 18, 2009 Sweet, be in touch then Link to post Share on other sites
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