Knowledge of currency conversion can be essential in the global economy. Knowing how much your money is worth in another country can help you figure out the bottom line for your business, or help you budget for a future trip. Currency conversion can involve several steps. First, you can calculate the amount of the conversion using a formula or by visiting a website that will do the calculations for you. Then, with an idea of how much your money is worth, you can visit a bank or commercial location that will sell you yen for your dollars.
Find the most current exchange rate for the Japanese yen from a reliable source. The Federal Reserve makes this information available on its website.
Multiply the amount of U.S. dollars you would like to convert to Japanese yen by the exchange rate. For example, if the exchange rate was 1 U.S. dollar for 80 Japanese yen, and you would like to convert $500, you would process 500 x 80 = 40,000. Your result would be $500 is the equivalent of 40,000 yen.
Enter the amount of dollars into an online currency conversion calculator if you would prefer not to do the calculation manually. Enter the amount you would like to convert and choose the options to convert the amount from dollars to yen.
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Visit a bank or commercial currency location that will sell you Japanese yen. Use your knowledge of the value of your dollars in yen to double-check the transaction. Many locations charge a fee for currency conversion or sell the currency at a slightly higher rate.