1 EUR to JPY - Convert Euro to Japanese Yen

Looking at the 30-day window, the EUR/JPY pair traded in a range of 179.9820 to 191.0001. The monthly average was 184.8146 with 1.7% volatility. The relatively low volatility indicates stable trading conditions for the EUR/JPY currency pair.

The current mid-market exchange rate is 1 EUR = 185.6653 JPY, updated as of June 4, 2026, 12:53 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

Euro to Japanese Yen Exchange Rate

EUR/JPY is one of the most actively traded cross-currency pairs, meaning it does not involve the US dollar directly. The pair connects Europe's shared currency with Japan's yen and is popular among forex traders because of its tendency to make large moves. It combines the economic dynamics of 20 Eurozone countries with Japan's unique monetary policy environment.

The Volatility Magnet

EUR/JPY has earned a reputation among traders as one of the most volatile major pairs. This is because it effectively combines two separate relationships: EUR/USD and USD/JPY. When both of those pairs move in the same direction, EUR/JPY amplifies the move. For example, if the euro strengthens against the dollar and the dollar strengthens against the yen at the same time, EUR/JPY can move significantly more than either underlying pair. Single-day swings of 200-300 pips are not unusual, and during crisis periods the pair has moved over 1,000 pips in a week. This volatility attracts speculative traders but makes conversion timing especially important for businesses and individuals. For Japanese companies with European operations or European firms exporting to Japan, hedging EUR/JPY exposure is a routine part of financial planning.

What Drives the EUR/JPY Rate

The interest rate differential between the ECB and Bank of Japan is the foundational driver. With Japan maintaining near-zero rates for decades while Europe has moved to positive territory, the carry trade dynamic pulls EUR/JPY higher. Eurozone and Japanese GDP data, inflation figures, risk appetite, and BOJ intervention signals all factor in. European political events and Japanese fiscal policy add additional layers of movement. The pair is also sensitive to changes in global equity markets since risk appetite drives carry trade positioning.

What a Conversion Really Costs

EUR/JPY is liquid enough for tight spreads, though slightly wider than the major dollar pairs. Banks charge 1-2.5%. Online services offer 0.5-1.2% above mid-market. For Japanese tourists visiting Europe or European businesses paying Japanese suppliers, checking the cross-rate directly rather than converting through dollars can sometimes save money depending on the provider.

How to Get the Best EUR to JPY Rate

Compare the EUR/JPY mid-market rate on this page with your provider. Some services route EUR/JPY through dollars, which adds two conversion spreads. Look for providers that offer direct cross-rate conversion. Given the pair's volatility, checking the rate right before converting is especially important. Rate alerts are particularly useful for EUR/JPY since favorable windows can appear and disappear within hours during volatile trading sessions.