Reference and Arbitrage Exchange Rates for November
Overview
A notice by the Bank of Japan’s International Department on behalf of the Minister of Finance. The reference exchange rate applicable during November 2026 is 156 yen per US dollar. Arbitrage rates are 111 yen per Canadian dollar, 23 yen per Chinese yuan, 16 yen per Swedish krona, 190 yen per Swiss franc, 209 yen per pound sterling, and 179 yen per euro. Other currencies are arbitraged using their September 2026 market rates against the US dollar and the reference rate. For currencies without an available US dollar market rate, the market rate against a currency with an arbitrage rate is used. The reference section lists September 2026 market rates of various currencies against the US dollar; for foreign currencies not listed above, the average market rate during that month is used.
Key points
- Foreign exchange rates applicable during November 2026 were announced.
- The reference exchange rate is 156 yen per US dollar.
- Arbitrage exchange rates are given for six currencies; rates for other currencies are arbitraged based on market rates during September 2026.
- The reference section lists market rates of foreign currencies against the US dollar during September 2026.
Overview
The notice is titled “Reference and Arbitrage Exchange Rates (Applicable during November 2026)” and is published by the Bank of Japan’s International Department as a notice from the Minister of Finance.
The section headings are “1. Reference Exchange Rates” and “2. Arbitrage Exchange Rates,” followed by a “Reference” section listing market rates of foreign currencies against the US dollar.
Details
The notice is dated October 20, 2026, and identifies the Bank of Japan’s International Department as its issuer.
The reference exchange rate is 156 yen in Japanese currency per US dollar.
The arbitrage exchange rates are 111 yen per Canadian dollar, 23 yen per Chinese yuan, 16 yen per Swedish krona, 190 yen per Swiss franc, 209 yen per pound sterling, and 179 yen per euro, each stated as the amount in Japanese currency per one unit of the respective currency.
Other currencies are arbitraged using the market rate of the relevant currency against the US dollar during September 2026 and the reference exchange rate. For currencies with no available market rate against the US dollar, the market rate against a currency with an arbitrage exchange rate is used with that arbitrage rate.
For September 2026 market rates against the US dollar, the reference section lists the UAE dirham, Argentine peso, Israeli shekel, Iranian rial, Indian rupee, Indonesian rupiah, Australian dollar, Omani rial, Qatari rial, South Korean won, Cambodian riel, Kuwaiti dinar, Kenyan shilling, Colombian peso, Saudi riyal, Singapore dollar, New Taiwan dollar, Sri Lankan rupee, Seychellois rupee, Thai baht, Tahitian Pacific franc, Czech koruna, Chilean peso, Danish krone, Trinidad and Tobago dollar, Turkish lira, Nigerian naira, New Zealand dollar, Norwegian krone, Pakistani rupee, Vanuatu vatu, Papua New Guinean kina, Bahraini dinar, Hungarian forint, Bangladeshi taka, Fijian dollar, Philippine peso, Brazilian real, Brunei dollar, Vietnamese dong, Venezuelan bolivar, Peruvian nuevo sol, Polish zloty, Hong Kong dollar, Malaysian ringgit, South African rand, Myanmar kyat, Mexican peso, Mauritian rupee, Moroccan dirham, Jordanian dinar, Lao kip, Romanian leu, Rwandan franc, and Russian ruble.
For currencies not listed in the reference section, the average market rate of the relevant currency against the US dollar during September 2026 is used.