Japan Sets February FX Benchmarks at 156 Yen per Dollar as Tokyo Yen Trades in High 157s

Overview

• The Finance Ministry and Bank of Japan published the statutory conversion and base rates for February 2026, setting 1 US dollar at 156 yen.
• The Bank of Japan’s arbitrage table fixed major cross rates including 1 euro at 183 yen, 1 pound at 209 yen, and 1 Swiss franc at 196 yen.
• The published tables provide dollar-equivalent figures for dozens of currencies such as CAD, CNY, AUD, SGD, KRW, and TWD.
• The Tokyo foreign exchange market traded the yen around 157.93–157.94 per dollar at 10:00 a.m. on January 20, following early yen selling tied to the lower-house dissolution announcement by Prime Minister Sanae Takaichi.
• Traders reported subsequent yen buying on caution over possible currency intervention, with some citing dollar selling linked to tensions between the United States and Europe over Greenland.