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1 USD = 112.7670 JPY

1 JPY to USD = 0.0089

Provider Indicative Rate Service Notes Action

Online Exclusive

Horizon Currency
112.2032 Online money transfers only. Strictly no holiday cash requests. Do-it-yourself transfers for easily the best exchange rate in the market.

International Money Transfers

Rational FX
111.7521 International Payments and Transfers Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent.

Cash Delivery / Holiday Money

Travel FX
111.7521 Holiday FX, Cash Delivery 0% Commission

Best Bank Rate

Banks
109.6095 Payments, transfers, holiday money Determined using data on spread charges supplied by IMTI Login to your online bank account

Worst Bank Rate

Banks
108.8202 Payments, transfers, holiday money Determined using data on spread charges supplied by Money Mover and Accourt Login to your online bank account

Airport Pickup

Moneycorp
111.0755 Holiday FX, Cash Delivery Booking Online prior to pickup is the key to getting a good rate

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USD/JPY Live Chart and Data

Exchange Rate History For Converting US Dollar (USD) to Japanese Yen (JPY)

2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012
Loading

Exchange Rate Today for Converting USD To JPY

Convert USD:
To JPY:
1
112.7670
10
1,127.6700
50
5,638.3500
100
11,276.7000
500
56,383.5000
1,000
112,767.0000
Convert USD:
To JPY:
2,500
281,917.5000
5,000
563,835.0000
7,500
845,752.5000
10,000
1,127,670.0000
50,000
5,638,350.0000
1,00,000
11,276,700.0000

Exchange Rate History for USD To JPY: 2018

January - 2018

SunMonTueWedThuFriSat
1

Open: 112.6610

Close: 112.7770

Mid: 112.7220

2

Open: 112.7620

Close: 112.2460

Mid: 112.3660

3

Open: 112.2560

Close: 112.6050

Mid: 112.3485

4

Open: 112.6200

Close: 112.8110

Mid: 112.7290

5

Open: 112.7990

Close: 113.0380

Mid: 113.0530

6

Open: 112.7990

Close: 113.0380

Mid: 113.0530

7

Open: 113.0380

Close: 113.1460

Mid: 113.0920

8

Open: 113.1560

Close: 113.1500

Mid: 113.0775

9

Open: 113.1620

Close: 112.7490

Mid: 112.7805

10

Open: 112.7790

Close: 111.4380

Mid: 112.0150

11

Open: 111.4420

Close: 111.2870

Mid: 111.5015

12

Open: 111.2990

Close: 111.0580

Mid: 111.1605

13

Open: 111.0580

Close: 111.0110

Mid: 111.0235

14

Open: 111.0110

Close: 111.1300

Mid: 111.0830

15

Open: 111.1470

Close: 110.6010

Mid: 110.6140

16

Open: 110.6180

Close: 110.3730

Mid: 110.7665

17

Open: 110.3970

Close: 111.3720

Mid: 110.6500

18

Open: 111.3110

Close: 111.0060

Mid: 111.1885

19

Open: 111.0160

Close: 110.5790

Mid: 110.6560

20

Open: 110.5790

Close: 110.7660

Mid: 110.6725

21

Open: 110.5390

Close: 110.6840

Mid: 110.5685

22

Open: 110.6980

Close: 110.9670

Mid: 110.8720

23

Open: 110.9760

Close: 110.0990

Mid: 110.6285

24

Open: 110.1430

Close: 109.3320

Mid: 109.6330

25

Open: 109.3210

Close: 109.6750

Mid: 109.2300

26

Open: 109.6470

Close: 108.6030

Mid: 108.8325

27

Open: 109.6470

Close: 108.6030

Mid: 108.8325

28

Open: 108.7930

Close: 108.6380

Mid: 108.7315

29

Open: 108.6340

Close: 108.9270

Mid: 108.8705

30

Open: 108.9500

Close: 108.7290

Mid: 108.7345

31

Open: 108.7390

Close: 109.2130

Mid: 108.9280

February - 2018

SunMonTueWedThuFriSat
1

Open: 109.1880

Close: 109.3950

Mid: 109.4990

2

Open: 109.3880

Close: 110.0980

Mid: 109.9505

3

Open: 110.0980

Close: 110.1050

Mid: 110.1050

4

Open: 110.1050

Close: 110.0330

Mid: 110.1095

5

Open: 110.0290

Close: 109.0650

Mid: 109.4355

6

Open: 109.1110

Close: 109.6270

Mid: 109.3210

7

Open: 109.6280

Close: 109.2000

Mid: 109.3250

8

Open: 109.1610

Close: 108.5560

Mid: 109.2200

9

Open: 108.5220

Close: 108.7500

Mid: 108.6955

10

Open: 108.7500

Close: 108.7570

Mid: 108.7535

11

Open: 108.7570

Close: 108.7890

Mid: 108.8210

12

Open: 108.7960

Close: 108.6940

Mid: 108.5865

13

Open: 108.6790

Close: 107.7640

Mid: 107.9170

14

Open: 107.7730

Close: 106.5740

Mid: 107.1225

15

Open: 106.6440

Close: 106.1120

Mid: 106.4315

16

Open: 106.0940

Close: 106.3090

Mid: 106.1525

17

Open: 106.3090

Close: 106.3090

Mid: 106.2450

18

Open: 106.3090

Close: 106.2570

Mid: 106.3185

19

Open: 106.2850

Close: 106.7090

Mid: 106.5190

20

Open: 106.7030

Close: 107.3880

Mid: 107.1170

21

Open: 107.3700

Close: 107.5590

Mid: 107.6110

22

Open: 107.5930

Close: 106.8190

Mid: 107.1605

23

Open: 106.8400

Close: 106.8810

Mid: 106.8265

24

Open: 106.8810

Close: 106.8520

Mid: 106.8665

25

Open: 106.8520

Close: 107.0820

Mid: 107.0520

26

Open: 107.0690

Close: 107.0610

Mid: 106.7930

27

Open: 107.0410

Close: 107.4410

Mid: 107.2140

28

Open: 107.4420

Close: 106.6330

Mid: 107.0330

March - 2018

SunMonTueWedThuFriSat
1

Open: 106.6360

Close: 106.1770

Mid: 106.7355

2

Open: 106.1760

Close: 105.7220

Mid: 105.6950

3

Open: 105.7220

Close: 105.7220

Mid: 105.7110

4

Open: 105.7220

Close: 105.5600

Mid: 105.5925

5

Open: 105.5590

Close: 106.2360

Mid: 105.7265

6

Open: 106.2620

Close: 105.5450

Mid: 106.1535

7

Open: 105.5680

Close: 106.2020

Mid: 105.8755

8

Open: 106.1520

Close: 106.4090

Mid: 106.1780

9

Open: 106.4040

Close: 106.7070

Mid: 106.7100

10

Open: 106.4040

Close: 106.7070

Mid: 106.7100

11

Open: 106.6980

Close: 106.8860

Mid: 106.7950

12

Open: 106.8880

Close: 106.2630

Mid: 106.4950

13

Open: 106.3110

Close: 106.5070

Mid: 106.6125

14

Open: 106.5350

Close: 106.1720

Mid: 106.3310

15

Open: 106.1590

Close: 106.3200

Mid: 106.0125

16

Open: 106.3150

Close: 105.9680

Mid: 106.0090

17

Open: 106.3150

Close: 105.9680

Mid: 106.0090

18

Open: 106.0320

Close: 105.9740

Mid: 105.9480

19

Open: 105.9700

Close: 106.0070

Mid: 105.9610

20

Open: 106.0260

Close: 106.4790

Mid: 106.3905

21

Open: 106.4890

Close: 105.9300

Mid: 106.2995

22

Open: 105.9110

Close: 104.9770

Mid: 105.2580

23

Open: 104.9650

Close: 104.6620

Mid: 104.9955

24

Open: 104.6690

Close: 104.6620

Mid: 104.6865

25

Open: 104.6620

Close: 104.8460

Mid: 104.7390

26

Open: 104.9240

Close: 105.5070

Mid: 105.1790

27

Open: 105.5470

Close: 105.4340

Mid: 105.7575

28

Open: 105.4820

Close: 106.8010

Mid: 106.0350

29

Open: 106.7920

Close: 106.4560

Mid: 106.5390

30

Open: 106.4840

Close: 106.0150

Mid: 106.1340

31

Open: 106.0150

Close: 106.0150

Mid: 106.0115

April - 2018

SunMonTueWedThuFriSat
1

Open: 106.0150

Close: 106.2900

Mid: 106.2830

2

Open: 106.4770

Close: 105.8000

Mid: 106.1005

3

Open: 105.8150

Close: 106.4360

Mid: 106.1735

4

Open: 106.4570

Close: 106.7880

Mid: 106.4465

5

Open: 106.7890

Close: 107.0830

Mid: 107.1020

6

Open: 107.0890

Close: 106.7940

Mid: 107.2160

7

Open: 106.7940

Close: 106.7940

Mid: 106.7835

8

Open: 106.7940

Close: 106.9780

Mid: 106.8790

9

Open: 106.9400

Close: 106.7520

Mid: 106.9550

10

Open: 106.7280

Close: 107.1200

Mid: 106.9730

11

Open: 107.1180

Close: 106.8150

Mid: 106.9315

12

Open: 106.8240

Close: 107.2240

Mid: 107.0850

13

Open: 107.2680

Close: 107.3030

Mid: 107.4925

14

Open: 107.2680

Close: 107.3030

Mid: 107.4925

15

Open: 107.3030

Close: 107.5060

Mid: 107.4445

16

Open: 107.5080

Close: 107.0220

Mid: 107.2055

17

Open: 107.0530

Close: 107.0020

Mid: 106.9110

18

Open: 107.0170

Close: 107.3370

Mid: 107.3025

19

Open: 107.3340

Close: 107.4270

Mid: 107.3730

20

Open: 107.4520

Close: 107.5840

Mid: 107.6455

21

Open: 107.5840

Close: 108.2340

Mid: 107.9090

22

Open: 108.2340

Close: 107.8570

Mid: 107.9070

23

Open: 107.8520

Close: 108.7590

Mid: 108.2185

24

Open: 108.7550

Close: 108.8000

Mid: 108.9025

25

Open: 108.8230

Close: 109.3640

Mid: 109.1400

26

Open: 109.3800

Close: 109.2900

Mid: 109.2395

27

Open: 109.2970

Close: 108.9770

Mid: 109.1930

28

Open: 109.2970

Close: 108.9770

Mid: 109.1930

29

Open: 108.9770

Close: 109.0920

Mid: 109.0755

30

Open: 108.9920

Close: 109.3530

Mid: 109.3100

May - 2018

SunMonTueWedThuFriSat
1

Open: 109.3090

Close: 109.8860

Mid: 109.5500

2

Open: 109.8820

Close: 109.8310

Mid: 109.8850

3

Open: 109.8310

Close: 109.0880

Mid: 109.3465

4

Open: 109.1090

Close: 108.8930

Mid: 109.0865

5

Open: 108.8440

Close: 109.4500

Mid: 109.1470

6

Open: 109.5120

Close: 109.1430

Mid: 109.2270

7

Open: 109.1360

Close: 108.9350

Mid: 109.1155

8

Open: 108.9380

Close: 109.0170

Mid: 108.9850

9

Open: 109.0520

Close: 109.8450

Mid: 109.5445

10

Open: 109.8250

Close: 109.4440

Mid: 109.6005

11

Open: 109.4670

Close: 109.3830

Mid: 109.2575

12

Open: 109.3830

Close: 109.3830

Mid: 109.3425

13

Open: 109.4290

Close: 109.3520

Mid: 109.3560

14

Open: 109.4040

Close: 109.7300

Mid: 109.4390

15

Open: 109.7640

Close: 110.3050

Mid: 110.1130

16

Open: 110.3010

Close: 110.3660

Mid: 110.2295

17

Open: 110.3740

Close: 110.8420

Mid: 110.5275

18

Open: 110.8710

Close: 110.7570

Mid: 110.8340

19

Open: 110.7820

Close: 110.7420

Mid: 110.8510

20

Open: 110.7420

Close: 110.8770

Mid: 110.8610

21

Open: 110.8960

Close: 110.9730

Mid: 111.0890

22

Open: 110.9940

Close: 110.7260

Mid: 110.9385

23

Open: 110.7300

Close: 109.8830

Mid: 110.2490

24

Open: 109.9110

Close: 109.3100

Mid: 109.4325

25

Open: 109.3150

Close: 109.3940

Mid: 109.4610

26

Open: 109.3940

Close: 109.3940

Mid: 109.3825

27

Open: 109.3940

Close: 109.6260

Mid: 109.5470

28

Open: 109.6830

Close: 109.4090

Mid: 109.4290

29

Open: 109.3920

Close: 108.4030

Mid: 108.8675

30

Open: 108.4290

Close: 108.7130

Mid: 108.7325

31

Open: 108.7170

Close: 108.7390

Mid: 108.7010

June - 2018

SunMonTueWedThuFriSat
1

Open: 108.7650

Close: 109.4020

Mid: 109.2400

2

Open: 108.3090

Close: 109.5620

Mid: 108.4640

3

Open: 109.5620

Close: 109.5880

Mid: 109.4930

4

Open: 109.6290

Close: 109.9680

Mid: 109.6620

5

Open: 109.9660

Close: 109.8560

Mid: 109.8355

6

Open: 109.8930

Close: 110.1130

Mid: 109.9835

7

Open: 110.1190

Close: 109.6990

Mid: 109.9000

8

Open: 109.7240

Close: 109.4370

Mid: 109.5675

9

Open: 109.3070

Close: 109.6350

Mid: 109.4710

10

Open: 109.6350

Close: 109.4670

Mid: 109.4635

11

Open: 109.4630

Close: 110.3920

Mid: 109.9545

12

Open: 110.3710

Close: 110.4600

Mid: 110.2350

13

Open: 110.4540

Close: 110.2470

Mid: 110.5360

14

Open: 110.2270

Close: 110.6350

Mid: 110.2820

15

Open: 110.6230

Close: 110.4990

Mid: 110.6650

16

Open: 110.6230

Close: 110.4990

Mid: 110.6650

17

Open: 110.4990

Close: 110.6470

Mid: 110.8070

18

Open: 110.6060

Close: 110.1080

Mid: 110.4945

19

Open: 110.1630

Close: 110.0670

Mid: 109.9580

20

Open: 110.0950

Close: 110.3580

Mid: 110.0835

21

Open: 110.3620

Close: 109.9550

Mid: 110.2765

22

Open: 109.9460

Close: 109.8820

Mid: 110.0300

23

Open: 109.9460

Close: 109.8820

Mid: 110.0300

24

Open: 110.0190

Close: 109.9360

Mid: 109.8415

25

Open: 109.9520

Close: 109.6450

Mid: 109.6910

26

Open: 109.6480

Close: 110.1070

Mid: 109.7585

27

Open: 110.1250

Close: 110.2040

Mid: 110.1555

28

Open: 110.2170

Close: 110.4880

Mid: 110.2080

29

Open: 110.4650

Close: 110.7130

Mid: 110.5940

30

Open: 110.7130

Close: 110.7130

Mid: 110.7095

July - 2018

SunMonTueWedThuFriSat
1

Open: 110.7130

Close: 110.7290

Mid: 110.7185

2

Open: 110.7430

Close: 110.8750

Mid: 110.8865

3

Open: 110.8760

Close: 110.3940

Mid: 110.8080

4

Open: 110.4070

Close: 110.5220

Mid: 110.4875

5

Open: 110.4980

Close: 110.5610

Mid: 110.5445

6

Open: 110.5460

Close: 110.4540

Mid: 110.5535

7

Open: 110.4540

Close: 110.5690

Mid: 110.4965

8

Open: 110.5690

Close: 110.4290

Mid: 110.4260

9

Open: 110.4290

Close: 110.9530

Mid: 110.6315

10

Open: 110.9720

Close: 110.8270

Mid: 111.0985

11

Open: 110.8560

Close: 111.9700

Mid: 111.3525

12

Open: 111.9760

Close: 112.6690

Mid: 112.3550

13

Open: 112.6600

Close: 112.3740

Mid: 112.5195

14

Open: 112.3740

Close: 112.3590

Mid: 112.3290

15

Open: 112.3590

Close: 112.3880

Mid: 112.3395

16

Open: 112.4090

Close: 112.3850

Mid: 112.3375

17

Open: 112.3620

Close: 113.0170

Mid: 112.6260

18

Open: 113.0050

Close: 112.7880

Mid: 112.9400

19

Open: 112.8010

Close: 112.3440

Mid: 112.7900

20

Open: 112.3630

Close: 111.3920

Mid: 111.9685

21

Open: 111.3410

Close: 111.2880

Mid: 111.3680

22

Open: 111.2880

Close: 111.0640

Mid: 111.2740

23

Open: 111.0690

Close: 111.4740

Mid: 111.2010

24

Open: 111.4670

Close: 111.2530

Mid: 111.2525

25

Open: 111.2710

Close: 110.8390

Mid: 110.9855

26

Open: 110.8760

Close: 111.1440

Mid: 110.9760

27

Open: 111.1620

Close: 110.9040

Mid: 111.0110

28

Open: 111.1620

Close: 110.9040

Mid: 111.0110

29

Open: 110.9040

Close: 110.9380

Mid: 111.0305

30

Open: 110.9440

Close: 110.9990

Mid: 110.9795

31

Open: 110.9980

Close: 111.8000

Mid: 111.3235

August - 2018

SunMonTueWedThuFriSat
1

Open: 111.8130

Close: 111.6210

Mid: 111.8275

2

Open: 111.6340

Close: 111.7100

Mid: 111.5590

3

Open: 111.7140

Close: 111.2540

Mid: 111.4765

4

Open: 111.7140

Close: 111.2540

Mid: 111.4765

5

Open: 111.2540

Close: 111.2050

Mid: 111.2685

6

Open: 111.2260

Close: 111.3310

Mid: 111.3885

7

Open: 111.3340

Close: 111.3400

Mid: 111.2980

8

Open: 111.3390

Close: 110.8790

Mid: 111.1895

9

Open: 110.9010

Close: 111.0700

Mid: 111.0970

10

Open: 111.0870

Close: 110.8550

Mid: 110.9180

11

Open: 111.0870

Close: 110.8550

Mid: 110.9180

12

Open: 110.8550

Close: 110.6360

Mid: 110.6740

13

Open: 110.5580

Close: 110.6690

Mid: 110.5290

14

Open: 110.6610

Close: 111.2250

Mid: 111.0500

15

Open: 111.2470

Close: 110.5770

Mid: 110.9030

16

Open: 110.6000

Close: 110.9910

Mid: 110.6965

17

Open: 111.0040

Close: 110.4040

Mid: 110.5430

18

Open: 111.0040

Close: 110.4040

Mid: 110.5430

19

Open: 110.4040

Close: 110.4690

Mid: 110.5410

20

Open: 110.4870

Close: 109.9400

Mid: 110.3900

21

Open: 109.9530

Close: 110.1210

Mid: 110.1455

22

Open: 110.1150

Close: 110.5840

Mid: 110.3815

23

Open: 110.5680

Close: 111.3510

Mid: 111.0125

24

Open: 111.3570

Close: 111.2190

Mid: 111.2710

25

Open: 111.3570

Close: 111.2190

Mid: 111.2710

26

Open: 111.2660

Close: 111.2530

Mid: 111.2880

27

Open: 111.2830

Close: 111.1510

Mid: 111.0955

28

Open: 111.1150

Close: 111.1520

Mid: 111.1350

29

Open: 111.1420

Close: 111.7000

Mid: 111.4485

30

Open: 111.6960

Close: 111.0080

Mid: 111.4085

31

Open: 111.0100

Close: 110.9950

Mid: 110.9555

September - 2018

SunMonTueWedThuFriSat
1

Open: 110.9950

Close: 110.9950

Mid: 110.9490

2

Open: 110.9950

Close: 111.1290

Mid: 111.0650

3

Open: 111.1340

Close: 111.0760

Mid: 111.0820

4

Open: 111.0820

Close: 111.4340

Mid: 111.3540

5

Open: 111.4540

Close: 111.4530

Mid: 111.6140

6

Open: 111.4440

Close: 110.4840

Mid: 111.0025

7

Open: 110.4890

Close: 110.9910

Mid: 110.6910

8

Open: 110.9910

Close: 110.9910

Mid: 110.9790

9

Open: 110.9910

Close: 110.9240

Mid: 111.0105

10

Open: 110.9180

Close: 111.1440

Mid: 111.0275

11

Open: 111.1320

Close: 111.6160

Mid: 111.4200

12

Open: 111.6100

Close: 111.2160

Mid: 111.3740

13

Open: 111.2030

Close: 112.0190

Mid: 111.6425

14

Open: 112.0360

Close: 112.0440

Mid: 111.9330

15

Open: 112.0360

Close: 112.0440

Mid: 111.9330

16

Open: 112.0620

Close: 111.9520

Mid: 112.0005

17

Open: 111.9460

Close: 111.6910

Mid: 111.9725

18

Open: 111.6850

Close: 112.2830

Mid: 112.1135

19

Open: 112.2860

Close: 112.3160

Mid: 112.3780

20

Open: 112.3300

Close: 112.4960

Mid: 112.2195

21

Open: 112.5040

Close: 112.5230

Mid: 112.5835

22

Open: 112.4890

Close: 112.5230

Mid: 113.0680

23

Open: 112.5230

Close: 112.5330

Mid: 112.5200

24

Open: 112.5270

Close: 112.7880

Mid: 112.5615

25

Open: 112.7960

Close: 112.9770

Mid: 112.8945

26

Open: 112.9730

Close: 112.7060

Mid: 112.8235

27

Open: 112.7100

Close: 113.3670

Mid: 112.8785

28

Open: 113.3930

Close: 113.6620

Mid: 113.5130

29

Open: 113.3930

Close: 113.6620

Mid: 113.5130

30

Open: 113.6620

Close: 113.8090

Mid: 113.7220

October - 2018

SunMonTueWedThuFriSat
1

Open: 113.7890

Close: 113.9470

Mid: 113.9195

2

Open: 113.9470

Close: 113.5730

Mid: 113.8455

3

Open: 113.5850

Close: 114.4870

Mid: 114.0150

4

Open: 114.4850

Close: 113.9010

Mid: 114.1395

5

Open: 113.9250

Close: 113.6670

Mid: 113.7980

6

Open: 113.6410

Close: 113.7330

Mid: 113.6870

7

Open: 113.7330

Close: 113.7200

Mid: 113.7035

8

Open: 113.7070

Close: 113.0990

Mid: 113.5280

9

Open: 113.1080

Close: 113.0050

Mid: 113.0505

10

Open: 113.0380

Close: 112.0960

Mid: 112.7490

11

Open: 112.1060

Close: 112.0910

Mid: 112.2320

12

Open: 112.0800

Close: 112.1490

Mid: 112.1550

13

Open: 112.0800

Close: 112.1490

Mid: 112.1550

14

Open: 112.5670

Close: 112.1950

Mid: 112.3305

15

Open: 112.2040

Close: 111.8400

Mid: 111.8445

16

Open: 111.8630

Close: 112.3570

Mid: 112.0270

17

Open: 112.3090

Close: 112.6250

Mid: 112.3465

18

Open: 112.6330

Close: 112.1830

Mid: 112.2770

19

Open: 112.1960

Close: 112.5090

Mid: 112.3425

20

Open: 112.1960

Close: 112.5090

Mid: 112.3425

21

Open: 112.7300

Close: 112.4730

Mid: 112.4985

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31

November - 2018

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December - 2018

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For full historical data please visit: USD/JPY exchange rate history pages for the past 365 days
For full historical data please visit: USD/JPY exchange rate history pages for the year 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012

USD News and Forecasts from Pound Sterling Live's Editorial Team

The Pound-to-Dollar Rate in the Week Ahead: Range-Bound With Marginal …

The GBP/USD rate is currently trading within a sideways range between a 1.2930 floor and...

Pound-to-Dollar Rate in Danger of Further Losses as "Domestic Pol…

The Pound has handed back all of its October gains over the Dollar heading into...

Pound-to-Dollar Rate: The Fed's Push to Raise Interest Rates above …

The Pound-to-Dollar rate could benefit from the Federal Reserve's (Fed) push to raise its interest rate above the...

The Japanese Yen is Taking the U.S. Dollar's Safe-haven Crown says Rab…

Investors are beginning to favour alternative safe-haven currencies such as the Yen and Swiss Franc...

Rising FX Hedging Costs now a U.S. Dollar Headwind

The high cost of hedging FX positions in the U.S. is leading many foreign bond...

Publications from the US Federal Reserve

Distance and Decline: The Case of Petersburg, Virginia

Petersburg, Virginia, prospered over two centuries as a center of production and trade. However, the city experienced economic difficulties beginning in the 1980s as a large number of layoffs at...

Review of New York Fed studies on the effects of post-crisis banking r…

In 2017, the Federal Reserve Bank of New York initiated a project to examine the effects of post-crisis reforms on bank performance and vulnerability. The project, which was completed in...

The pre-crisis monetary policy implementation framework

This article describes the Federal Reserve’s (“the Fed’s”) operating framework for monetary policy prior to the expansion of the Fed’s balance sheet during the financial crisis. To implement the Fed’s...

Trends in credit basis spreads

Market participants and policymakers were surprised by the large, prolonged dislocations in credit market basis trades during the second half of 2015 and the first quarter of 2016. In this...

Negative swap spreads

Market participants have been surprised by the decline of U.S. interest rate swap rates relative to Treasury yields of equal maturity over the past two years, with interest rate swap...