If you’ve checked the exchange rate lately, you probably noticed something interesting happening between the Chinese Yuan (RMB) and the Japanese Yen (JPY). As of mid-January 2026, the value of 1 rmb to jpy is hovering around 22.70 yen.
That might not sound like a huge number, but context is everything. Just a couple of years ago, we were looking at 18 or 19 yen for every yuan. Now, the renminbi is flexing its muscles, and the yen—well, it’s been through a lot. Whether you're a traveler planning a trip to Tokyo or a business owner sourcing parts from Shenzhen, this 22-yen mark is a big deal.
1 rmb to jpy: The Reality of Your Purchasing Power
Let's get practical for a second. What does 1 rmb to jpy actually buy you on the ground? Honestly, not much by itself. But when you scale it up to 100 RMB (about 2,270 JPY), you’re looking at a decent lunch in a Tokyo business district like Nihonbashi.
In the past, 100 RMB might have only covered a bowl of ramen and a side of gyoza. Today, that same 100 RMB can stretch to a full "teishoku" set meal with a drink, thanks to the yen's relative weakness.
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What's Driving the Rate Right Now?
Currency markets are messy. It's never just one thing. Currently, the Bank of Japan (BoJ) is finally nudging interest rates up—sitting around 0.75%—but they are moving at a snail's pace compared to the rest of the world. Meanwhile, China's export machine is still humming, even with some internal property market drama.
- Interest Rate Gaps: China’s rates are generally higher than Japan’s near-zero levels. Investors like higher returns, so they often move money toward the yuan.
- The Export Factor: Goldman Sachs recently noted that China’s trade surplus is expected to rise to 4.2% of its GDP in 2026. A lot of money is flowing into China, propping up the RMB.
- Safe Haven Shifts: Historically, people ran to the yen during a crisis. These days? Not so much. The yen has lost some of its "safety" luster.
Why the 22-Yen Mark Matters for Travelers
If you’re heading to Japan from China, you’re basically getting a discount on everything. Seriously.
Luxury goods in Ginza are cheaper for RMB holders than they've been in a decade. Hotel stays that used to feel pricey are now much more manageable. You’ve probably noticed more Chinese tourists in places like Hokkaido or Kyoto lately; that’s not a coincidence. It's the exchange rate doing the heavy lifting.
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But there’s a flip side. If you’re a Japanese business trying to sell electronics or precision tools to China, your products are now incredibly cheap for Chinese buyers. That sounds good for sales, but it means Japan has to work twice as hard to earn the same amount of value back.
The Long-Term Trend
Looking at the data from the last two years, the RMB has been on a fairly steady climb against the yen. We saw a low point in mid-2025 where it dipped near 19 JPY, but it’s been a mountain-climb since then. Most analysts, including teams at ING, suggest that while the yen might recover slightly if the BoJ gets aggressive, the "new normal" for 1 rmb to jpy is likely to stay above the 21-yen threshold for the foreseeable future.
Beyond the Numbers: The Economic Tug-of-War
It’s easy to get lost in the charts. But remember: currencies are just reflections of how much the world trusts an economy.
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Japan is dealing with a massive demographic shift—basically, an aging population—which makes growth hard. China, on the other hand, is trying to pivot from being the "world's factory" to a tech-driven powerhouse.
Sometimes the exchange rate tells you more about what’s wrong with one country than what’s right with the other. The yen’s weakness isn’t just about Japan; it’s about a global market that is currently betting more on China’s resilience than Japan’s recovery.
Actionable Insights for 2026
If you need to move money between these two currencies, here’s how to handle it:
- Don’t wait for a "crash": Many people keep waiting for the yen to "return to normal" (like 100 JPY to 1 USD or 15 JPY to 1 RMB). That might not happen. If you have a trip planned, lock in some of your currency now.
- Use Digital Wallets: In Japan, Alipay and WeChat Pay are everywhere now. They often give better "hidden" exchange rates than the physical kiosks at Narita or Haneda airports.
- Watch the BoJ: If Governor Ueda announces a surprise rate hike to 1.0%, the yen will spike. That’s your window if you’re looking to buy RMB with JPY.
- Hedge for Business: If you’re in trade, consider forward contracts. The volatility in the 1 rmb to jpy pair has increased, and a 2% swing in a week can wipe out your profit margins.
The relationship between the yuan and the yen is a barometer for the entire Asian economy. While 22.70 is the number today, the underlying forces—inflation, trade wars, and interest rates—are constantly shifting the ground beneath our feet. Keep an eye on the central bank meetings in Beijing and Tokyo; they’re the ones holding the remote control.
To stay ahead of these shifts, monitor the Bank of Japan’s quarterly outlook reports and China's monthly industrial production data, as these are the primary triggers for sudden rate movements.