What is the most cost-effective way to exchange 100,000 TWD to JPY? The latest 2025 exchange plan full analysis

The NT$ to JPY exchange rate has risen to 4.85, and more and more people are using 100,000 NT$ to buy Japanese yen. Whether you’re saving for a trip to Japan next year or positioning assets to hedge against yen fluctuations, mastering the correct currency exchange method can save you thousands of dollars. We use the latest data to break down all feasible options for you.

Is it cost-effective to exchange yen now in 2025?

Yes, but you need to use the right method.

Currently, NT$ to JPY is about 4.85 (1 NT$ = 4.85 yen), an 8.7% appreciation compared to 4.46 at the beginning of the year. This means the amount of yen you can get with 100,000 NT$ continues to increase. In the second half of the year, Taiwan’s currency exchange demand grew by 25%, with travel recovery and hedging strategies running in parallel.

The Bank of Japan Governor Ueda Kazuo recently signaled a hawkish stance, with market expectations of a 0.25 bps rate hike to 0.75% on December 19 (a 30-year high), and Japanese bond yields reaching a 17-year high of 1.93%. USD/JPY has fallen from the high of 160 at the start of the year to 154.58, with short-term fluctuations possibly reaching 155, but medium to long-term forecasts suggest approaching below 150.

Key advice: stagger your entries, avoid exchanging all at once. For investment purposes, the yen is one of the three major global safe-haven currencies (along with USD and Swiss Franc), suitable for hedging Taiwan stocks, but watch out for short-term arbitrage closing risks.

What’s the most cost-effective way to exchange 100,000 NT$ for yen?

Suppose you want to exchange 100,000 NT$, here is a comparison of the actual costs of four options:

Option 1: Bank counter cash exchange

Bring NT$ cash directly to a bank or airport counter to exchange for yen on the spot.

This is the most traditional way but also the most expensive. Banks use the “cash selling rate” (1-2% worse than the spot rate), plus possible handling fees, making it the highest cost.

For example, Taiwan Bank’s cash selling rate on December 10, 2025, is about 0.2060 NT$ per yen (1 NT$ = 4.85 yen). Using 100,000 NT$, you get about 485,000 yen. But this rate already includes the bank’s margin.

Advantages: Safe and reliable, staff assistance on site, denominations available (1,000, 5,000, 10,000 yen).

Disadvantages: Worst exchange rate, only open weekdays 9:00-15:30, handling fees extra.

Estimated cost: Loss of 1,500–2,000 NT$.

Suitable for: Those unfamiliar with online operations or needing urgent cash at the airport.

Option 2: Online banking exchange + cash withdrawal at counter or ATM

Use bank app or website to convert NT$ to yen and deposit into a foreign currency account, then withdraw cash at counter or ATM.

This method uses the “spot selling rate” (about 1% better than cash selling rate), but cash withdrawal incurs a spread fee (minimum 100 NT$).

For example, E.SUN Bank app exchange rate is about 4.87, so 100,000 NT$ can be exchanged for about 487,000 yen. When withdrawing cash, the bank charges the difference between the cash rate and the spot rate.

Advantages: 24/7 operation, allows averaging costs through multiple entries, better exchange rates.

Disadvantages: Need to open a foreign currency account (most banks free), withdrawal fees (around 5-100 NT$), and limit on withdrawal amount.

Estimated cost: Loss of 500–1,000 NT$.

Suitable for: Those experienced with forex, using foreign currency accounts regularly, or investing in yen deposits (annual interest rate about 1.5-1.8%).

Option 3: Online currency exchange + airport pickup

No need for a foreign currency account, just pre-book online and pick up at designated airport branch.

Taiwan Bank’s “Easy Purchase” online exchange and Mega International Bank offer this service. Paying via Taiwan Pay costs only 10 NT$, with about 0.5% exchange rate advantage and most fees waived. This is the most efficient option before departure.

Taoyuan Airport has 14 Taiwan Bank branches, 2 of which operate 24 hours, allowing you to pick up before departure or late at night.

Advantages: Better exchange rate, often no handling fee, direct airport pickup, well-planned.

Disadvantages: Need to book 1-3 days in advance, pickup time limited to bank hours, branches cannot be changed.

Estimated cost: Loss of 300–800 NT$.

Suitable for: Travelers planning to go abroad, wanting to withdraw directly at the airport.

Option 4: Foreign currency ATM 24-hour withdrawal

Use chips financial card at bank foreign currency ATMs to withdraw yen cash instantly, anytime, no waiting.

Many banks like Sinopac offer this service. Deduct directly from NT$ account, cross-bank fee only 5 NT$, daily limit 150,000 NT$. Fastest and most flexible method.

Advantages: Instant withdrawal, 24/7 operation, no need to transfer to foreign currency account, minimal cross-bank fee.

Disadvantages: Limited locations (~200 nationwide), currency and denomination restrictions (fixed 1,000/5,000/10,000 yen), cash may run out during peak times.

Estimated cost: Loss of 800–1,200 NT$.

Suitable for: Urgent needs, busy professionals who can’t visit banks.

Summary of the four options

Conclusion: The most cost-effective way to exchange NT$ 100,000 for yen is “online currency exchange + airport pickup” (lowest cost), followed by “online exchange” (for long-term holding). Counter cash exchange is the most expensive, suitable only as a backup.

Why is yen worth exchanging? Not just for travel, but also for hedging investments

For daily use: travel, shopping, studying abroad

Most stores in Japan still only accept cash (credit card penetration about 60%), so shopping in Tokyo, dining in Osaka, skiing in Hokkaido, or vacationing in Okinawa all require cash. Also, those who buy Japanese cosmetics, fashion, or anime merchandise often pay directly in yen to agents or Japanese websites. Students planning long-term stay in Japan also exchange in advance to avoid exchange rate fluctuations increasing costs.

From a financial perspective: yen as a global safe-haven currency

Yen is one of the three major safe-haven currencies (along with USD and Swiss Franc), due to Japan’s stable economy and sound debt structure. During market turbulence, funds flow into yen for hedging. For example, during the Russia-Ukraine conflict in 2022, yen appreciated 8% in a week, effectively buffering a 10% stock market decline. For Taiwanese investors, exchanging yen is not just for travel but also for hedging Taiwan stock risks.

Japan maintains ultra-low interest rates (around 0.5%), making yen a “funding currency.” Many international investors borrow low-interest yen to invest in higher-yield USD (US-Japan interest rate gap of about 4.0%). When risks rise, they close positions and buy back yen, which is the core of arbitrage trading.

After exchanging yen, don’t let your money sit idle

If you’ve already exchanged 100,000 NT$ for yen, don’t let it earn zero interest. Here are four options suitable for small-scale beginners:

1. Yen fixed deposit: Most stable, open an FX account with E.SUN or Taiwan Bank to deposit online. Minimum 10,000 yen, annual interest 1.5-1.8%.

2. Yen insurance policy: Medium-term holding, guaranteed 2-3% annual interest with Cathay or Fubon savings insurance.

3. Yen ETFs (00675U, 00703): Growth-oriented, Yuanta 00675U tracks yen index, can buy fractional shares via broker apps, suitable for regular investment.

4. Forex trading USD/JPY, EUR/JPY: Directly trade currency pairs to capture exchange rate movements, both long and short, 24-hour trading, small capital required, suitable for swing strategies.

While yen is a safe haven, it also involves two-way volatility risk. The BOJ’s rate hikes are positive, but global arbitrage unwinding or geopolitical conflicts may depress the exchange rate. For investment, yen ETFs diversify risk, with an annual management fee of about 0.4%.

Quick FAQs

Q: What’s the difference between cash rate and spot rate?

Cash rate (Cash Rate) applies to physical cash transactions, with the advantage of immediate cash receipt but 1-2% worse than the spot rate. Spot rate (Spot Rate) is used for electronic transfers, completed within two business days (T+2), with more favorable rates but requires waiting.

Q: How much yen can I get with 10,000 NT$?

Calculation: Yen amount = NT$ amount × exchange rate. Using Taiwan Bank’s cash selling rate of 4.85, 10,000 NT$ ≈ 48,500 yen; with spot selling rate 4.87, about 48,700 yen, difference roughly 200 yen (~NT$40).

Q: What do I need to bring for counter exchange?

Taiwanese: ID card + passport; foreigners: passport + residence permit. If pre-booked online, also bring transaction notice. Under 20 need parent accompaniment; large amounts (>10,000 NT$) may require source of funds declaration.

Q: What’s the daily limit for foreign currency ATM withdrawal?

From 2025, limits are:

Distribute withdrawals or use your own bank card to avoid cross-bank fees. During peak times (airports), cash may run out; plan ahead.

Summary: The best strategy to exchange NT$ 100,000 for yen

Yen is no longer just for travel pocket money but also a hedging and investment asset.

The core principle: staggered exchange + avoid leaving money idle after exchange. Whether for travel or asset allocation, mastering the right method can save you thousands.

We recommend beginners start with the simplest “online currency exchange + airport pickup” or “foreign currency ATM,” then transfer yen into fixed deposits, ETFs, or even try forex swing trading. This way, you not only save on travel costs but also gain protection during global market turbulence. Start planning now and turn NT$ depreciation pressure into exchange gains.