Yokohama

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Currency Denominations

Overview of Japanese yen denominations, including both coins and bills, for easy financial transactions.

Sections

Currency Overview

The official currency of Japan, including Yokohama, is the Japanese Yen (JPY), symbolized as "ยฅ" and often abbreviated as "JPY" in international contexts. The yen is widely used across all transactions in Yokohama, from small street vendors to high-end restaurants.

Currency Denominations

Japanese currency is divided into coins and banknotes, each with specific denominations.

Coins

  1. 1 yen (ยฅ1) - Made of lightweight aluminum, this is the smallest denomination. It is often used for small change but may not be accepted in vending machines.
  2. 5 yen (ยฅ5) - Made of brass and has a hole in the center. It is considered lucky in Japanese culture because the pronunciation of "5 yen" (go-en) sounds like "good fortune" in Japanese.
  3. 10 yen (ยฅ10) - Made of bronze, this coin is commonly used for small purchases.
  4. 50 yen (ยฅ50) - Made of cupronickel and also has a hole in the center. It is another lucky coin due to its association with good fortune.
  5. 100 yen (ยฅ100) - Made of cupronickel, this is one of the most commonly used coins, equivalent to about 1 USD (depending on exchange rates).
  6. 500 yen (ยฅ500) - Made of nickel-brass, this is the highest-value coin and is widely used for vending machines, transportation, and small purchases.

Banknotes

  1. 1,000 yen (ยฅ1,000) - The smallest banknote, often used for everyday transactions like meals, transportation, and shopping.
  2. 2,000 yen (ยฅ2,000) - Rarely seen in circulation, this note is more of a collector's item or used in specific regions. It is still legal tender.
  3. 5,000 yen (ยฅ5,000) - Commonly used for mid-sized purchases, such as dining at restaurants or shopping.
  4. 10,000 yen (ยฅ10,000) - The largest denomination, equivalent to about 67 USD (as of October 2023). It is widely accepted but may not be ideal for small transactions due to the need for change.

Cultural Tips and Practices

  1. Handling Money:

    • Japanese people value cleanliness and respect, and this extends to money. Banknotes are often kept in pristine condition, and itโ€™s common to use a wallet or money clip to avoid crumpling them.
    • When paying, use both hands to hand over money, especially in formal settings. This is seen as polite and respectful.
    • Many stores and restaurants provide small trays at the cash register for you to place your money or receive change. Use these trays instead of handing money directly to the cashier.

  2. Tipping:

    • Tipping is not customary in Japan and can even be considered rude. Excellent service is the standard, and no additional payment is expected. If you wish to show appreciation, a small gift or a simple "thank you" (arigatou gozaimasu) is more appropriate.

  3. Lucky Coins:

    • The 5 yen and 50 yen coins are considered lucky due to their cultural significance. Some people keep them as good luck charms.

Practical Advice for Visitors

Cash vs. Credit Cards

  • Cash:
    • Cash is still king in Japan, especially for small businesses, street vendors, and traditional establishments. Always carry some cash, particularly coins, for vending machines, public transportation, and small purchases.
    • Many restaurants, temples, and local markets in Yokohama may only accept cash.
  • Credit Cards:
    • Credit cards (Visa, Mastercard, JCB, and American Express) are increasingly accepted in larger stores, shopping malls, hotels, and chain restaurants. However, smaller establishments may not accept them, so itโ€™s wise to confirm beforehand.
    • Contactless payment systems like Suica, Pasmo, and PayPay are also gaining popularity, especially for transportation and convenience stores.

Where to Exchange Money

  1. At the Airport:
    • Exchange currency at Narita or Haneda Airport before heading to Yokohama. Rates may be slightly higher, but itโ€™s convenient.
  2. Banks:
    • Major banks in Yokohama, such as MUFG, SMBC, and Mizuho, offer currency exchange services. Bring your passport for identification.
  3. Currency Exchange Counters:
    • Look for Travelex or other currency exchange counters in Yokohamaโ€™s major train stations or shopping areas.
  4. ATMs:
    • International ATMs are widely available in convenience stores like 7-Eleven, Lawson, and FamilyMart. These ATMs accept foreign cards and offer competitive exchange rates. Be aware of any fees charged by your home bank.
  5. Hotels:
    • Some high-end hotels in Yokohama offer currency exchange services, though rates may not be as favorable.

Costs to Consider

  • Transportation:
    • Local trains, buses, and taxis often require cash or a prepaid IC card (like Suica or Pasmo). Keep small denominations handy for these.
  • Dining:
    • Many casual eateries and izakayas (Japanese pubs) prefer cash payments.
  • Shopping:
    • Department stores and larger retailers accept credit cards, but smaller shops may not.
  • Attractions:
    • Entry fees for museums, parks, and other attractions are often paid in cash.

Tips for Managing Cash

  • Carry Small Denominations:
    • Always have a mix of coins and smaller banknotes (ยฅ1,000 or ยฅ5,000) for convenience.
  • Use IC Cards:
    • Prepaid IC cards like Suica or Pasmo can be loaded with cash and used for transportation, vending machines, and even some shops and restaurants. They are a convenient alternative to carrying large amounts of cash.
  • Avoid Large Withdrawals:
    • While ยฅ10,000 notes are common, they may not be ideal for small purchases. Break them at larger stores or train stations.

Emergency Tips

  • If you run out of cash, head to a 7-Eleven, Lawson, or FamilyMart to use their international ATMs.
  • Keep your receipts from currency exchanges or ATM withdrawals in case you need to track expenses or report issues.
  • If you lose your wallet, contact the nearest police station (koban) immediately. Lost items are often turned in due to Japanโ€™s strong culture of honesty.

By understanding the currency system and local practices in Yokohama, youโ€™ll be well-prepared to navigate the city with confidence. Whether youโ€™re exploring Chinatown, shopping in Minato Mirai, or dining at a local ramen shop, having the right mix of cash and cards will ensure a smooth and enjoyable experience.