What Is the JPY to INR Rate Today?

Skydo gives the highest INR on JPY 790,000 today among the platforms with full published pricing for JPY. The table ranks those platforms by INR received, then lists other platforms that accept JPY, which are never ranked. Fees were checked on 30 Sept 2026.

Japanese clients can pay Indian exporters by SWIFT transfer, in yen or US dollars as the contract states. Japan is outside the Asian Clearing Union, so RBI rules allow the receipt in rupees or any foreign currency. Ask your AD bank whether it credits JPY directly and whether it offers a yen EEFC account before you invoice in yen.

Over the last year the JPY to INR reference rate ranged from ₹0.5628 to ₹0.6205. The chart uses European Central Bank reference rates, one point per ECB working day.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹0.6006 for 4 Nov 2026.

JPY is a widely traded currency, so the gap between your rate and mid-market is mostly your AD bank's margin plus any SWIFT intermediary fees. JPY-INR is one of four INR pairs permitted for exchange-traded futures and options under RBI's risk management directions, so exchange prices give a public reference. Ask whether a larger conversion gets a finer quote.

Say a bank converts JPY 790,000 at a TT buying rate 1.5% below the mid-market rate of ₹0.6006. It credits about ₹4,67,329 instead of ₹4,74,446, a difference of ₹7,117 before any fees. The 1.5% is an illustration, not a quote from any bank.

Search engines show the mid-market rate, the midpoint between buying and selling prices. A card rate is a bank's own rate for card transactions, and a TT buying rate is the rate a bank pays when it buys foreign currency received by wire. Both sit below the mid-market rate.

The Japanese yen is a floating currency, with its value set by trading in global currency markets. Japan's Ministry of Finance is responsible for foreign exchange intervention, and the Bank of Japan carries it out as the government's agent. The Ministry of Finance publishes intervention data monthly and quarterly.

• Interest rates: The Bank of Japan steers the uncollateralized overnight call rate. On 18 September 2026 it raised the guideline to around 1.25 percent, effective 24 September 2026, and said it will continue to raise the policy interest rate in response to developments in economic activity, prices and financial conditions.
• Intervention: Japan's Ministry of Finance is responsible for yen intervention and the Bank of Japan carries it out, so official statements on sharp yen moves can shift JPY/INR quickly. The Ministry of Finance publishes the amounts after the fact.
• Oil prices: The Bank of Japan's September 2026 statement links high crude oil prices and yen depreciation to rising producer prices in Japan. Oil also affects India's import bill, so it can move both sides of JPY/INR.
• Rate gap: JPY/INR is driven partly by the gap between Japanese and Indian interest rates. A narrower gap from Bank of Japan increases tends to support the yen against the rupee, though other factors can outweigh it.
• Risk sentiment: Global risk appetite can move the yen and the rupee in different directions. JPY/INR can then change even when nothing has changed in Japan or India.

Indian exporters receiving JPY can convert at spot, book a forward, place a target-rate order or hold yen in an EEFC account. Spot suits small, irregular invoices. Forwards suit known future receipts, and JPY-INR also trades on Indian exchanges. Holding yen in EEFC delays conversion only until the end of the following month, after approved uses.

• Spot: Your AD bank converts the yen at its current rate when the payment is credited. This is simplest for small or one-off invoices.
• Forward: RBI's Master Direction on Risk Management and Inter-Bank Dealings lets AD banks offer forwards involving INR to retail users for hedging. Users can hedge contracted exposure up to USD 100 million equivalent across all AD banks without establishing the underlying, though a valid unhedged exposure must exist, and may freely cancel and rebook. Ask your AD bank for a JPY/INR forward quote with the mid-market mark, which RBI requires it to show retail users before the deal.
• Limit order: Some AD banks accept an order to convert when JPY/INR reaches a target level. Check with your AD bank whether it offers this and how long the order stays open.
• EEFC holding: RBI's Master Direction on Deposits and Accounts lets you credit 100% of foreign exchange earnings to an EEFC account. The account pays no interest. Each month's accruals must be converted to rupees by the end of the next month, after adjusting for approved uses or forward commitments.

• Compare mid-market: Check your AD bank's JPY/INR rate against the live mid-market rate on this page at the moment of conversion. The difference is the bank's margin.
• Invoice currency: Agree in the contract whether the client pays in JPY or USD. Paying in JPY avoids a conversion on the client's side, which can otherwise add a second margin.
• Batch receipts: Converting several yen receipts together from an EEFC account may earn a better quote than converting each small payment.
• Intermediary fees: Ask the client to choose the option where the sender pays SWIFT charges, so fewer deductions reach your account.
• Mid-market mark: For forwards, RBI's risk management directions require AD banks to show retail users the mid-market mark before the deal. Use it to judge the margin.

Compare platforms side by side on the compare page, or check every currency on the currency convertor.

• Feed: XE live mid-market rates, published live; this site refreshes it every 15 minutes. The page refreshes at most hourly.
• Markup: Markup is the gap between a platform's rate and the mid-market rate, taken from each platform's own published pricing. GST of 18% applies to fees where the platform says so.
• Stale data: If the feed fails, the page shows no rate and pauses the calculator rather than showing an old rate as current.
• Method: The full formula is on the methodology page.

Rates come from XE live mid-market rates, dated 4 Nov 2026. Platform pricing was checked on each platform's own pages on 30 Sept 2026 or later. Currency facts are linked to official sources below.

1. XE live mid-market rates (checked 4 Nov 2026)
2. RBI Master Direction - Deposits and Accounts (updated September 02, 2026), para 3.1 EEFC Account, Para 3.1: 100 percent of foreign exchange earnings may be credited; non-interest bearing account; the sum total of accruals during a calendar month should be converted into Rupees on or before the last day of the succeeding calendar month after adjusting for utilization for approved purposes or forward commitments. (checked 8 Oct 2026)
3. RBI Master Direction - Risk Management and Inter-Bank Dealings (updated October 01, 2026), Para 2.2(ii): forwards may be offered to retail users; para 2.3(ii): deliverable derivatives involving INR for hedging; para 2.4(i): users may hedge contracted exposure up to USD 100 million equivalent across all ADs without establishing the underlying, but a valid unhedged exposure must exist; users may freely cancel and rebook. Section 3.2: exchange traded pairs are USD-INR, EUR-INR, GBP-INR, JPY-INR, EUR-USD, GBP-USD and USD-JPY. (checked 8 Oct 2026)
4. Bank of Japan: Change in the Guideline for Money Market Operations (September 18, 2026), The Bank will encourage the uncollateralized overnight call rate to remain at around 1.25 percent, effective September 24, 2026; PPI rise reflects high crude oil prices and the depreciation of the yen; the Bank will continue to raise the policy interest rate in response to developments in economic activity and prices as well as financial conditions. (checked 8 Oct 2026)
5. Bank of Japan: Outline of International Finance, The Bank carries out international operations on behalf of the government, including conducting foreign exchange intervention; the Ministry of Finance is responsible for such operations and the Bank carries them out based on instructions from the Finance Minister as agent. (checked 8 Oct 2026)
6. Ministry of Finance Japan: Foreign Exchange Intervention Operations, Quarterly and monthly releases of intervention data (latest monthly release September 30, 2026). (checked 8 Oct 2026)
7. RBI: Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 (amended up to February 12, 2025), Reg 3(2)(I)(a)(iii): receipt/payment for exports to countries other than member countries of ACU may be made in Indian Rupees or in any foreign currency. (checked 8 Oct 2026)
8. RBI A.P. (DIR Series) Circular No. 84 (2012), FETERS purpose codes for receipts, Annexure II lists receipt purpose codes for reporting forex transactions, e.g. P0802 Software consultancy/implementation. (checked 8 Oct 2026)