Japan Economic Information
Central Bank: Bank of Japan (BoJ)
Currency: Japanese yen (JPY or ¥)
The world's 2nd largest economy, Japan is largely dependent on export growth. A population of almost 130 million makes Japan one the world's largest markets. Due to the BoJ's tendency for setting the country's interest rates low, the yen has been a popular currency with investors during the past decade to use for Carry Trades.
Key industries:
Among world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles and processed foods.
Agricultural products:
Rice, sugar beets, vegetables, fruit, pork, poultry, dairy products, eggs and fish.
Export commodities:
Transport equipment, motor vehicles, semiconductors, electrical machinery and chemicals.
Import commodities:
Machinery and equipment, fuels, foodstuffs, chemicals, textiles and raw materials.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/15/2009. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Japanese yen:
Reasons to consider
- The Japanese Yen increased by over 23% in relation to the US dollar in 2008.
- Japanese consumer confidence improved for the 5th straight month in May 2009.
Risk factors to consider
- The first monthly current-account deficit in 13 years occurred in January 2009.
- Trade between Japan and N. Korea fell 97% in 2008.
- Japan's exports tumbled by 49.4%, the sharpest decline since Japan's ministry of finance began compiling trade figures in 1980.
How EverBank can help with your Japanese yen needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency and Pan-Asian are proprietary service marks of EverBank. All rights reserved.
