# Inflation-adjusted trade-weighted yen | PIER20 benchmarks

How weak is the yen once inflation and trading-partner currencies are accounted for?

Inflation-adjusted trade-weighted yen tracks BIS real narrow effective exchange rate for Japan, 2020=100. It uses monthly data.

The latest data is from **June 2026**. The Real narrow effective exchange rate reading is **62.26 index**. The Ten-year median reading is **90.91 index**. The Distance from median reading is **-28.65 index**. The Real narrow effective exchange rate line is down 9.4% over the past year. It is below its long-run median of 120.69 index.

## Summary statistics (full history)

| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Real narrow effective exchange rate | 112.78 | 62.26 | 62.26 | 179.53 |
| Ten-year median | 112.78 | 90.91 | 90.91 | 137.51 |
| Distance from median | 0.00 | -28.65 | -30.69 | 46.90 |

## Last 24 readings

| Date | Real narrow effective exchange rate | Ten-year median | Distance from median |
|---|---|---|---|
| Jul 2024 | 65.12 | 95.59 | -30.47 |
| Aug 2024 | 69.64 | 95.36 | -25.72 |
| Sep 2024 | 70.36 | 95.10 | -24.74 |
| Oct 2024 | 68.34 | 94.98 | -26.64 |
| Nov 2024 | 68.09 | 94.98 | -26.89 |
| Dec 2024 | 68.93 | 94.98 | -26.05 |
| Jan 2025 | 68.67 | 94.98 | -26.31 |
| Feb 2025 | 69.90 | 94.98 | -25.08 |
| Mar 2025 | 70.24 | 94.98 | -24.74 |
| Apr 2025 | 71.40 | 94.98 | -23.58 |
| May 2025 | 69.82 | 94.98 | -25.16 |
| Jun 2025 | 68.70 | 94.98 | -26.28 |
| Jul 2025 | 67.30 | 94.98 | -27.68 |
| Aug 2025 | 67.41 | 94.98 | -27.57 |
| Sep 2025 | 66.96 | 94.98 | -28.02 |
| Oct 2025 | 66.25 | 94.98 | -28.73 |
| Nov 2025 | 65.58 | 94.98 | -29.40 |
| Dec 2025 | 64.69 | 94.98 | -30.29 |
| Jan 2026 | 64.15 | 94.84 | -30.69 |
| Feb 2026 | 63.63 | 94.13 | -30.50 |
| Mar 2026 | 63.04 | 92.56 | -29.52 |
| Apr 2026 | 62.27 | 91.34 | -29.07 |
| May 2026 | 62.64 | 91.01 | -28.37 |
| Jun 2026 | 62.26 | 90.91 | -28.65 |

## How to read this benchmark

**How to read it.** The index measures the inflation-adjusted, trade-weighted yen. The distance measure compares the index with its ten-year median.

## How this benchmark is used

**Why traders watch it.** Currency traders use this benchmark to compare the real yen with its recent range.

## Frequently asked questions

**What is the latest reading for Inflation-adjusted trade-weighted yen?**

The latest data is from June 2026. The Real narrow effective exchange rate reading is 62.26 index. The Ten-year median reading is 90.91 index. The Distance from median reading is -28.65 index. The Real narrow effective exchange rate line is down 9.4% over the past year. It is below its long-run median of 120.69 index.

**How often does this benchmark update?**

The source publishes monthly data. PIER20 updates the page after each new observation. The chart shows the data date and fetch date.

**What data sources does this chart use?**

The Bank for International Settlements (BIS) publishes the data. The methodology section lists each source series.

**Where does the data come from?**

The Bank for International Settlements (BIS) publishes the source data. The source table lists each series and its exact link.

## Methodology

- Formula: BIS real narrow effective exchange rate for Japan, 2020=100
- Frequency: Monthly
- Sources: Real narrow effective exchange rate (RNJPBIS) https://stats.bis.org/api/v1/data/WS_EER/M.R.N.JP; Ten-year median (RNJPBIS-median) https://stats.bis.org/api/v1/data/WS_EER/M.R.N.JP; Distance from median (RNJPBIS-distance-median) https://stats.bis.org/api/v1/data/WS_EER/M.R.N.JP. Data via the Bank for International Settlements (BIS).
- Data through: June 2026
- Last refreshed: 11 Aug 2026

## Related benchmarks

- [USD/JPY over 40 years](https://pier20.com/benchmarks/usd-jpy)

Full interactive chart: https://pier20.com/benchmarks/real-effective-yen
Disclaimer: research software output, not investment advice.