Exchanging Yen into US Dollars Before leaving Japan
 

I've been paid about US$2,000 in cash in Yen and won't spend this much before I leave Tokyo tomorrow to go back to the U.S. I know the usual exchange choices are hotel, bank, post office, and airport exchange, but I wouldn't expect the hotel to hold large amounts of foreign currency, rather expecting to exchange into Yen.

Is it worth my time to search out a bank or post office that can do foreign exchange rather than exchanging at the airport either in Japan or US?

Should I just wait to exchange at a U.S. bank upon my return? Is there much difference in rates if you are exchanging into versus out of local currency?

I'm so used to using bank exchanges that the cash payment surprised me.

You will get a much better exchange rate outside of the hotel. Go to a post office or a bank before going to the airport, as the airport exchange rate from yen to other currencies is also lousy. If you exchange today at the post office the rate should be somewhere around ¥112 - ¥113/$1.

Post offices/banks are not hard to find, but if you are short on time, with only the equivalent of $2000 the difference in exchange rate won't be much...decide whether the time or the money is more valuable.

Not sure about the exchange rate once you are in the US, though a few years ago my parents brought home some yen from here and were unable to exchange it at their bank...not sure about now or your bank.

You get a better exchange rate than banks for buying cash US$ at discount ticket shops - kinken shops near major stations. They are not hard to find - they have windows full of lists for transport tickets, theatre and event tickets, telephone cards etc. Not many have English-speaking staff, but I'm sure you can make yourself understood.

Be careful about those places and the rate. In Nagoya a couple of weeks ago I saw a place that was offering an exchange rate that was so bad I actually went in and asked if it was really the rate...and sure enough, it was. So, before using any exchange place be sure you know the bank rate...www.bloomberg.com is good for that...and the rate you get should get is about 2 yen or less off of that.

Exchange rates for Yen cash get quite bad outside of Japan, so I recommend you do this while you're still there. Most banks and post offices offer pretty much similar rates, much better than the hotels.

No way would I wait to exchange it in the U.S.

I'd check with the hotel, just to see what they would offer. If it is a U.S. chain hotel then they may have $ received from guests would be willing to unload. I'd expect the rate to be not as good as elsewhere, but you never know.