🇨🇦 CAD vs 🇯🇵 JPY: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Canadian Dollar bought 112.56 JPY at the official reference rate, so per unit the Canadian Dollar is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months CAD strengthened by 3.3% against JPY, so on momentum the Canadian Dollar (CAD) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, CAD gained 1.8% in real terms against JPY over the same period.
CAD relative to JPY
Positive values mean CAD strengthened against JPY.
CAD vs JPY over the last three years
CAD against JPY, index 100 on November 6, 2023. A rising line means CAD gained on JPY. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 108.1 on July 11, 2024, when CAD was at its strongest against JPY in the period.
- 3-year low: 92.4 on April 22, 2025.
- Now: 102.6, 5% below the high and 11.1% above the low.
- Sharpest one-month move: CAD fell 13.4% against JPY between July 11, 2024 and August 5, 2024.
What moved CAD and JPY
- · 🇯🇵 US and Japan intervene to prop up yen — A rare joint intervention aims to halt the yen's slide as a carry-trade unwind rattles global markets
- · 🇨🇦 US declines to extend CUSMA deal — The US-Canada-Mexico trade pact stays in force but shifts to annual reviews, not a 16-year extension
- · 🇯🇵 BoJ hikes to 1.00% — Bank of Japan raises its policy rate again, citing persistent inflation and yen weakness
- · 🇯🇵 Japan intervenes to defend yen — Japan's Ministry of Finance buys yen after it crosses 160 per dollar during Golden Week
- · 🇯🇵 Takaichi's LDP wins snap election — The LDP-JIP coalition wins a postwar-record majority after a snap election
- · 🇨🇦 Trump cancels all Canada trade talks — Trump terminates trade negotiations with Canada after a dispute over an anti-tariff ad
Major central-bank decisions, elections and shocks for the two currencies since November 6, 2023. The interactive chart marks them on the line.
Performance against 15 major currencies
| Currency | 12-month change vs basket | Rank |
|---|---|---|
| 🇨🇦 Canadian Dollar (CAD) | +1.3% | #5 of 16 |
| 🇯🇵 Japanese Yen (JPY) | -2.1% | #10 of 16 |
Open the interactive CAD/JPY chart →
How this comparison works
Each currency's strength index starts at 100 and accumulates its daily change against 15 other major currencies (a geometric mean of pairwise exchange-rate moves), using European Central Bank reference rates and other official sources. The relative figures above divide CAD's index by JPY's, so they reflect the two currencies' performance against each other while accounting for the whole basket. The real variant additionally adjusts each currency for its domestic CPI inflation.
Read the full methodology →Frequently asked questions
Is CAD stronger than JPY right now?
It depends on the question. Per unit, 1 CAD = 112.56 JPY (reference rate, November 6, 2026), so the Canadian Dollar is worth more. As for which one is gaining, over the past 12 months CAD strengthened by 3.3% against JPY, so on momentum the Canadian Dollar (CAD) is the stronger of the two.
How do CAD and JPY perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, CAD ranks #5 of 16 (+1.3%) while JPY ranks #10 (-2.1%).
What does the CAD vs JPY strength comparison show?
Rather than a single exchange rate, this page compares how each currency performed against a basket of 15 major currencies, then derives their relative strength. It filters out moves caused by the other currency alone and shows who is truly stronger.
How often is the data updated?
Every trading day (Monday to Friday), after the European Central Bank publishes its reference rates, usually around 16:00 CET.