The
Japanese currency is the yen. There are four types of bill (¥1,000,
¥2,000, ¥5,000 and ¥10,000) and six coins (¥1, ¥5,
¥10, ¥50, ¥100 and ¥500.) All the main currencies
can be changed at banks that handle foreign exchange. Exchange rates
are the same at all banks.
Payments are usually made in cash in Japan, although
most stores accept credit cards. Checks are not commonly used. Also,
there has been an increase in the number of stores accepting debit
card (A system that allows people to make payments using cash cards
issued by banks, post offices or other financial institutions. Accounts
are settled immediately after the transaction is done.)
*Japan is known to be one of the most expensive countries in the
world. The following are just some examples of typical products
and services:
Coca-Cola (350 ml can) ¥141 ($1.16)
Hamburger ¥110 ($0.90)
Milk (one liter) ¥203 ($1.66)
Bread(1 kg) ¥421 ($3.45)
Rice (10 kg) ¥3,963 ($32.48)
Dry cleaning (business suit) ¥1,073 ($8.80)
Tissues (five boxes) ¥341 ($2.80)
Movie theater admission fee ¥1,800 ($14.75)
Gasoline (one liter) ¥106 ($0.87)
Delivered pizza (one pizza) ¥2,048 ($16.79)
Video rental fee (one rental) ¥354 ($2.93) (exchange rate: US$1=
¥122)
Source: Study on Retail Prices of Major Consumer
Goods and Services between Japan and Abroad, the Economic Planning
Agency ( 2001). |
1.Currency and cost of living