⚡ 30-Second Answer: Shop FX rates are set by ①interbank mid-rate (real-time) + 2-8% spread, ②intra-day competitive adjustment, and ③currency-specific margin (USD = thin, EUR/GBP = mid, exotic = thick). Many shops lock the morning 9am rate for the whole day — during volatile sessions, morning vs evening rates can diverge sharply.
Quick Reference
Value
Interbank mid
Real-time 24h
Shop update
9am lock or 1-2hr refresh
USD spread
2-3% (thin)
EUR/GBP spread
3-5% (mid)
Exotic spread
5-10% (thick)
Last verified
June 2026
📖2 min read
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Contents📖 ~2 min read
Tokyo exchange shops set their daily rate by referencing the
interbank wholesale rate at market open, applying their spread
margin (1–3% typically), and adjusting throughout the day based
on inventory levels and competitor pricing. Major chains
update 1–3 times daily; smaller shops update once. This brief
article covers the operational process.
TL;DR
Reference: live mid-market rate at market open.
Spread: 1–3% margin added.
Update frequency: 1–3 times daily for major chains.
What's the actual process?
Morning rate setting (before opening)
Check the mid-market rate via Reuters/Bloomberg/Yahoo Finance
Calculate the day's "buy" and "sell" rates by adding the
shop's standard spread
Post on the rate board
Throughout the day
Monitor competitor prices (especially in dense clusters)
Adjust spread if inventory is too high (sell more
aggressively) or too low (buy more aggressively)
Update display board if material changes
End of day
Reconcile inventory
Plan next day's reference
What this means for tourists
The rate you see in the morning may differ from afternoon
Late afternoon rates may lag the live mid-market
Yen Finder pulls auto-updated rates where available