Australian Dollar to Japanese Yen exchange rate history 1971 to 2026: the risk barometer
One Australian Dollar bought 394.830 JPY in 1971 and 111.481 JPY in 2026. The risk barometer. The series covers 56 years of annual data.
- 2026 avg
- 111.48
- year to date
- Highest avg
- 419.57
- 1974
- Lowest avg
- 62.65
- 2000
- Traded range
- 55.91 to 452.75
- low 2000, high 1974
Source: Federal Reserve H.10 cross rate (DEXUSAL ÷ DEXJPUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
AUD/JPY history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 2008 2008-09-15
Lehman Brothers files for bankruptcy
The collapse of Lehman Brothers triggered a global financial crisis, a flight into the US dollar and extreme volatility across currency markets.
- 2020 2020-03-15
Pandemic triggers a global dash for cash
The COVID-19 shock caused a worldwide sell-off and a surge in demand for US dollars, followed by large central bank intervention and emergency rate cuts.
- 2024 2024-07-31
Bank of Japan raises rates and the yen carry trade unwinds
The Bank of Japan raised its policy rate to about 0.25 percent. The yen strengthened sharply and crowded carry trades unwound, contributing to a global market sell-off in early August 2024.
AUD/JPY since 1971
Australian Dollar to Japanese Yen averaged 394.830 JPY in 1971 and 96.469 JPY in 2025, 75.6% lower across 55 complete years.
The annual average has ranged from 62.653 in 2000 to 419.572 in 1974. On individual trading days the series reached 55.905 and 452.747, a ratio of 8.1 to 1.
Risk appetite in AUD/JPY
AUD/JPY is a carry pair. The Reserve Bank of Australia sets the AUD policy rate and the Bank of Japan sets the JPY rate. The gap between the two is the main medium-term driver: capital tends to move toward the currency with the higher risk-adjusted yield, and the pair tends to move with that gap.
AUD/JPY is a classic risk barometer: the Australian dollar is cyclical and the yen is a funding currency. The annual series reflects those shifts rather than a single trend. From 1971 to 2025 the average moved -75.6%, with 24 up years and 30 down years.
When volatility rises, the pair tends to fall as carry positions unwind; when risk appetite returns, it tends to recover. Because carry trades are leveraged, the pair can move sharply when the rate gap narrows or when volatility rises, which is why the largest annual moves are often larger than the change in policy rates alone.
What moves AUD/JPY
AUD: The Australian dollar has floated since 1983 and is sensitive to commodity prices, China and global risk appetite.
JPY: The yen is a free-floating currency that has spent long periods with very low interest rates, making it a funding currency for carry trades.
For AUD/JPY, the AUD leg responds to iron ore and commodity prices, Chinese demand, Reserve Bank of Australia policy, while the JPY leg responds to Bank of Japan policy, interest rate differentials and carry trades, official intervention. The exchange rate is the market's attempt to balance the two sets of forces.
The five largest AUD/JPY moves
Ranked by absolute year-end change, the five largest moves were 2008 (-35.3%), 1985 (-34.2%), 2009 (+31.8%), 1986 (-22.9%), 1988 (+21.9%). The biggest was 2008, when the rate moved from 98.037 to 63.399, a change of 35.3%.
Across 55 complete years the pair rose in 24 and fell in 30. The average annual change was -1.5% with a standard deviation of 12.9 percentage points, which is one way to compare its volatility with other pairs.
AUD/JPY by decade
Grouped by decade, the annual average was 343.658 in 1971-1979 and 92.614 in 2020-2026. The widest decade-to-decade change was -51.5% between 1980-1989 and 1990-1999, when the average moved from 177.784 to 86.199.
The final bucket, 2020-2026, is a partial decade and includes the year-to-date 2026 average. The table below shows every bucket with its high and low, so the short-run moves and the long-run level can be read together.
How to read the AUD/JPY data
This is a derived cross rate. Each day's AUD/JPY is calculated from the two US dollar legs in Federal Reserve H.10 cross rate (DEXUSAL ÷ DEXJPUS), joined on the same calendar date with up to seven days of holiday carry-forward. No figure on this page is estimated or interpolated.
AUD/JPY annual average, 1971 to 2026
Annual average with the full trading range for each year. average high–low range
Source: Federal Reserve H.10 cross rate (DEXUSAL ÷ DEXJPUS). Figures are annual averages of daily observations.
AUD to JPY exchange rate by year
Every year since 1971: annual average, the year high and low, the year-end rate, and the change on the previous year.
| Year | Average | High | Low | Year end | Change |
|---|---|---|---|---|---|
| 1971 | 394.83 | 402.12 | 370.29 | 374.45 | n/a |
| 1972 | 361.41 | 384.47 | 350.30 | 384.07 | +2.6% |
| 1973 | 384.34 | 416.94 | 338.94 | 415.50 | +8.2% |
| 1974 | 419.57 | 452.75 | 387.29 | 398.70 | -4.0% |
| 1975 | 387.93 | 400.15 | 378.85 | 382.82 | -4.0% |
| 1976 | 362.17 | 384.34 | 298.16 | 319.16 | -16.6% |
| 1977 | 297.49 | 318.80 | 270.27 | 273.10 | -14.4% |
| 1978 | 240.53 | 275.30 | 209.98 | 223.45 | -18.2% |
| 1979 | 244.65 | 273.48 | 223.24 | 265.70 | +18.9% |
| 1980 | 257.77 | 278.91 | 239.66 | 239.94 | -9.7% |
| 1981 | 253.49 | 276.39 | 235.81 | 247.93 | +3.3% |
| 1982 | 252.53 | 266.44 | 228.63 | 230.01 | -7.2% |
| 1983 | 214.05 | 233.79 | 202.71 | 207.72 | -9.7% |
| 1984 | 208.53 | 220.59 | 201.18 | 207.57 | -0.1% |
| 1985 | 167.18 | 208.69 | 135.29 | 136.53 | -34.2% |
| 1986 | 113.33 | 144.18 | 91.68 | 105.32 | -22.9% |
| 1987 | 101.35 | 108.43 | 87.54 | 87.54 | -16.9% |
| 1988 | 100.47 | 109.73 | 88.49 | 106.73 | +21.9% |
| 1989 | 109.13 | 115.81 | 100.78 | 113.50 | +6.3% |
| 1990 | 113.13 | 122.51 | 96.16 | 104.80 | -7.7% |
| 1991 | 104.79 | 109.43 | 94.84 | 94.84 | -9.5% |
| 1992 | 93.28 | 103.31 | 84.50 | 86.02 | -9.3% |
| 1993 | 75.56 | 85.50 | 67.61 | 75.77 | -11.9% |
| 1994 | 74.70 | 78.69 | 71.14 | 77.22 | +1.9% |
| 1995 | 69.68 | 79.20 | 59.57 | 76.76 | -0.6% |
| 1996 | 85.19 | 93.09 | 77.24 | 91.97 | +19.8% |
| 1997 | 89.96 | 99.43 | 83.72 | 84.99 | -7.6% |
| 1998 | 82.30 | 88.84 | 69.24 | 69.24 | -18.5% |
| 1999 | 73.42 | 82.63 | 64.84 | 67.02 | -3.2% |
| 2000 | 62.65 | 70.94 | 55.91 | 63.58 | -5.1% |
| 2001 | 62.82 | 67.12 | 56.51 | 67.05 | +5.5% |
| 2002 | 68.01 | 71.80 | 62.63 | 66.80 | -0.4% |
| 2003 | 75.46 | 80.78 | 67.47 | 80.56 | +20.6% |
| 2004 | 79.58 | 84.90 | 74.58 | 80.14 | -0.5% |
| 2005 | 83.91 | 91.11 | 77.57 | 86.55 | +8.0% |
| 2006 | 87.63 | 93.84 | 82.29 | 93.84 | +8.4% |
| 2007 | 98.75 | 107.36 | 89.63 | 98.04 | +4.5% |
| 2008 | 88.69 | 104.06 | 56.65 | 63.40 | -35.3% |
| 2009 | 74.10 | 85.03 | 56.79 | 83.58 | +31.8% |
| 2010 | 80.63 | 87.70 | 73.26 | 82.67 | -1.1% |
| 2011 | 82.35 | 89.50 | 72.66 | 78.91 | -4.5% |
| 2012 | 82.68 | 90.04 | 75.77 | 90.04 | +14.1% |
| 2013 | 94.35 | 105.03 | 87.18 | 93.98 | +4.4% |
| 2014 | 95.35 | 102.13 | 88.74 | 97.95 | +4.2% |
| 2015 | 91.03 | 97.58 | 82.35 | 87.63 | -10.5% |
| 2016 | 80.81 | 86.88 | 74.79 | 84.43 | -3.6% |
| 2017 | 85.97 | 89.98 | 81.80 | 88.07 | +4.3% |
| 2018 | 82.55 | 88.96 | 77.29 | 77.29 | -12.2% |
| 2019 | 75.81 | 80.39 | 71.07 | 76.40 | -1.2% |
| 2020 | 73.61 | 79.55 | 63.12 | 79.55 | +4.1% |
| 2021 | 82.50 | 86.03 | 78.30 | 83.61 | +5.1% |
| 2022 | 91.10 | 98.08 | 80.62 | 89.70 | +7.3% |
| 2023 | 93.24 | 98.48 | 86.78 | 96.22 | +7.3% |
| 2024 | 99.89 | 109.12 | 93.39 | 97.33 | +1.2% |
| 2025 | 96.47 | 105.10 | 87.10 | 104.57 | +7.4% |
| 2026 YTD | 111.48 | 114.88 | 104.75 | 110.83 | +6.0% |
1971–2026 · 55 complete calendar years. Annual figures are averages of available daily observations. 2026 is year to date: the average is based on 209 published trading days through 2026-10-30.
Five largest AUD/JPY moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 2008 -35.3% 98.04 to 63.40
Year-end rate moved from 98.04 to 63.40, a change of 35.3%.
- 1985 -34.2% 207.57 to 136.53
Year-end rate moved from 207.57 to 136.53, a change of 34.2%.
- 2009 +31.8% 63.40 to 83.58
Year-end rate moved from 63.40 to 83.58, a change of 31.8%.
- 1986 -22.9% 136.53 to 105.32
Year-end rate moved from 136.53 to 105.32, a change of 22.9%.
- 1988 +21.9% 87.54 to 106.73
Year-end rate moved from 87.54 to 106.73, a change of 21.9%.
AUD/JPY by decade
Annual averages grouped into decade buckets. The first and last buckets may cover fewer than ten years.
| Period | Average | High | Low | vs previous |
|---|---|---|---|---|
| 1971–1979 | 343.66 | 452.75 | 209.98 | n/a |
| 1980–1989 | 177.78 | 278.91 | 87.54 | -48.3% |
| 1990–1999 | 86.20 | 122.51 | 59.57 | -51.5% |
| 2000–2009 | 78.16 | 107.36 | 55.91 | -9.3% |
| 2010–2019 | 85.15 | 105.03 | 71.07 | +8.9% |
| 2020–2026 | 92.61 | 114.88 | 63.12 | +8.8% |
Average of the annual averages in each period. The first and last rows cover partial decades.
AUD/JPY history: common questions
What was the AUD/JPY rate in 1971?
One AUD averaged 394.830 JPY in 1971, with a range of 370.290 to 402.121 and a year-end rate of 374.452.
How is the AUD/JPY rate calculated?
This is a derived cross rate. Each day's AUD/JPY is calculated from the two US dollar legs in Federal Reserve H.10 cross rate (DEXUSAL ÷ DEXJPUS), joined on the same date.
What is the highest AUD/JPY rate on record?
The highest annual average was 419.572 in 1974. The highest single observation was 452.747 in 1974.
What is the lowest AUD/JPY rate on record?
The lowest annual average was 62.653 in 2000. The lowest single observation was 55.905 in 2000.
What was the biggest single-year move in AUD/JPY?
2008 was the largest, at -35.3%. The year-end rate moved from 98.037 to 63.399.
What is the AUD/JPY rate in 2026?
The 2026 average is 111.481 JPY per AUD, based on the year to date. The latest complete year, 2025, averaged 96.469.
Query any AUD/JPY rate since 1971
Point-in-time rates, full time series and period analysis over the same dataset that powers this page. 1,000 requests per month free, no credit card required.
- Exact rate for any date, with weekend and holiday carry-forward
- Daily, weekly, monthly and yearly aggregation
- Change, volatility, highs and lows for any window
curl https://api.currency-core.com/v1/convert \
-H 'Authorization: Bearer YOUR_KEY' \
-G --data-urlencode 'from=AUD&to=JPY'curl https://api.currency-core.com/v1/convert \
-H 'Authorization: Bearer YOUR_KEY' \
-G --data-urlencode 'from=AUD&to=JPY' \
--data-urlencode 'date=2008-06-15' 56 years of AUD/JPY.
One API call away.
Historical rates on Starter and above. Free tier includes the last 30 days. No credit card required.