Good place to exchange Yen?

[Saint Borlaug]

The places I've seen on base have a wide spread (e.g. 105 sell, 110 buyback).
Is there a place where the sell/buyback rates are equal or at least with a narrow spread?

[socalheart]

I use the Lucky exchange service in either Mihama or Koza Music center for $ --> Y. When Comminity Bank had their rate at Y103, Lucky had Y104.1. When you're exchanging $100 it's not as big a difference as exchanging $2000. The one in Mihama is located next to Big Echo karaoke. There's also a new exchange place across from the Foster Spot gate next to the tire place, but I don't have anything to say about it. I'm not sure about Y --> $ though. Here's the number to the one in Koza: 098-933-8875. They're open 7 days a week.

[Oki alumni]

Just "FYI"...BoA here at Yokota (and I'd assume Island wide), get's 2 1/2% of the current ACTUAL exchange rate...both ways...buying and selling. So, IF you can find out where they get their "set" rate, you can actually know what the "official" rate will be in advance. Simple...multiply the "set" rate by .975 to get the selling rate, and by 102.50 to get the buying rate. Clubs, and other official type functions, get the actual rate, I think...but the NCO & O Clubs traditionally tack on ANOTHER two yen as a kind of "service fee". I don't know HOW the exchanges (food activities) figure THIER rates...prolly as much as they think the "market will bear".

-Oki Alumni

[P_chan]

Depends on how much you are changing. If I'm only changing 100 bucks or so, then I'll just do it on base. Because the one or two yen difference really won't make much of a difference once it comes to small dollar amounts. But once I'm changing money for rent or something else that costs a lot of yen, then I use the place socal is mentioning.

[socalheart]

It also helps to know WHERE you are located, Borlaug, so we give you more accurate info. :)

[Saint Borlaug]

I'm located near Kadena.

Have any of you exchanged Yen back and forth for investment purposes? I have a feeling that it'll dip below the 100 mark like it did a few months back again.

[socalheart]

If you're looking to exchange large amounts of money, the Bank of the Ryukyus or other local bank may have a better rate. The Lucky Exchange that I use requires you to give your name and address for amounts over Y100,000. The banks may as well.

[P_chan]

Except at the on base banks.

[uriel]

If you're looking to exchange large amounts of money, the Bank of the Ryukyus or other local bank may have a better rate. The Lucky Exchange that I use requires you to give your name and address for amounts over Y100,000. The banks may as well.

Allegedly it is now a law for them to do that.

[okisteve]

The banks are supposed to ask the reason for any large deposits and withdrawals. Especially deposits and foreign transfers, which I suppose they have to assume are money being laundered. But once they know you and understand the patterns they stop asking.