Description
EUR/JPY is the exchange rate between the Euro (EUR) and the Japanese Yen (JPY). This rate is determined by the foreign exchange market and is affected by various factors such as interest rates, economic data, and geopolitical events. It is used to gauge the relative strength of the Euro against the Yen and is a key indicator for traders and economists to understand the economic relationship between the Eurozone and Japan. A higher EUR/JPY rate indicates a stronger Euro relative to the Yen, while a lower rate indicates a weaker Euro.
The EUR/JPY exchange rate is calculated by dividing the value of one Euro by the value of one Japanese Yen in the foreign exchange market. This rate fluctuates continuously during market hours due to supply and demand dynamics.
The EUR/JPY exchange rate is updated in real-time during forex market hours, which are 24 hours a day from Monday to Friday.