September 2026 Yen Exchange Rate Record: 100 Yen at 872 Won, Don Quijote Duty Free Changes Starting in November

On August 21, 2026, in the Seoul foreign exchange market, the won/yen cross rate closed at 872.18 won per 100 yen. During the session it fell as low as 868.22 won per 100 yen, its lowest level in two years and two months, since 863.61 won on July 12, 2024. On the same day, the won/dollar exchange rate stayed in the 1,300 won range for a third straight day, and the yen had already dropped in July to its lowest level in 39 years and 7 months (around 163 yen per dollar). As of September 1, the most recent official quoted data available is this August 21 record, so before exchanging currency you should always check that day's bank quoted rate again. In addition, starting November 1, Japan's duty free system itself will change: the method of deducting tax directly at the store will switch to a refund method applied at departure.

Won/Yen Exchange Rate Data: Lowest Point in Two Years and Two Months

The figures recorded on August 21, 2026 are as follows.

Earlier, on July 24, the yen/dollar rate had climbed to 163.94 yen, the highest level in about 39 years and 7 months since December 1986 (in terms of the yen's value, effectively its lowest level), and the won/yen rate had also fallen to the 890 won range per 100 yen. In late August, the won weakened as well, which limited to some extent how far the won/yen rate fell, a detail worth noticing when you actually exchange money.

Drugstore and Don Quijote Prices in Practice: Won Conversion Is Only Slightly More Favorable

The 870 won range per 100 yen is about 3 to 4 percent lower than the 900 won range seen in late 2025 and early 2026. For example, when buying a 5,000 yen item at a drugstore, calculating at 900 won per 100 yen comes to about 45,000 won, while calculating at 870 won per 100 yen comes to about 43,500 won, a real difference. The scale of the yen's decline is large on its own. Still, the won has weakened at the same time, so once converted into won, the actual savings are smaller than the phrase "the yen at its lowest in 40 years" circulating in the news might suggest.

Don Quijote's duty free conditions (official guidance) are as follows.

• General goods (electronics, sundries, etc.): eligible for tax exemption on purchases of 5,000 yen or more before tax
• Consumables (food, cosmetics, medicine, etc.): eligible for tax exemption on purchases of 5,000 yen or more and 500,000 yen or less before tax
• Even if general goods and consumables each fall under 5,000 yen, tax exemption can still apply if the combined total is 5,000 yen or more

On top of this, presenting an affiliate coupon such as the one from LIVE JAPAN adds a further discount: on purchases of 10,000 yen or more before tax, the 10% tax exemption combines with an additional 5% off, and on purchases of 30,000 yen or more before tax, the 10% tax exemption combines with an additional 7% off, for a maximum discount of 17%. To use the coupon, simply open the affiliate page on your smartphone and show it at the register; no separate membership sign up is required.

Starting November 1: From Instant Tax Exemption to a Refund Method

The Japanese government included, in its fiscal 2025 tax reform outline, a system overhaul aimed at preventing fraudulent circulation of duty free goods (reselling within Japan after purchase), and the new method will apply to purchases made on or after November 1, 2026. According to official guidance from the Japan Tourism Agency (観光庁) and reporting by the Tourism Economic Newspaper, the key changes are as follows.

• Stores will no longer sell items at a tax deducted price; instead, customers will pay the full price including consumption tax.
• Upon departure, travelers present their passport at a dedicated terminal at the airport or port, and once customs confirms the goods are being taken out of the country, the store or a designated refund operator returns the amount equivalent to the consumption tax.
• The previous 500,000 yen purchase cap on consumables and the requirement for special sealed packaging for consumables are both abolished, and the distinction between general goods and consumables is eliminated altogether.
• The refund applies only to departures within 90 days of the purchase date; if that window is missed, the right to a refund is forfeited.

This system applies equally across duty free retailers throughout Japan, including Don Quijote, drugstores, department stores, and electronics stores alike. If you're traveling after November, keep your receipts until departure, and since the export confirmation step adds an extra procedure, it's safer to arrive at the airport with more buffer time than before.

Currency Exchange Checkpoints for September Travelers

Based on the confirmed facts, the following two steps are worth carrying out before departure without fail.

1. Exchange rates change every day. Rather than plugging the August 21 figure of 872.18 won into your travel budget, check the "today's quoted rate" page in your bank's app a few days before departure, based on the cash buying rate.
2. If you're visiting on or after November 1, the duty free procedure will have changed, so it helps to recognize in advance that the duty free experience differs between visits before and after that date (an instant discount versus a refund at departure), and to plan your payment method accordingly (a won denominated card versus cash).

Reference: Exchange Rate, Dollar Weakness and Corporate FX Selling Push It to the 1,380 Won Range... Lowest in 11 Months - Global Economic

Reference: Won/Dollar at 1,386 Won... Won/Yen Lowest in Over Two Years - EBN News Center

Reference: Won/Dollar Exchange Rate Stays in 1,300 Won Range for Third Straight Day... Won/Yen Lowest in Two Years and Two Months - Segye Ilbo

Reference: The Yen Hits Its Lowest Level in 40 Years, Is the Won Safe Either? - Newsis

Reference: Duty Free Procedures, Eligible Customers and Amounts - Don Quijote Official Guide

Reference: Don Quijote Duty Free and Special Discount Coupon - LIVE JAPAN Official Affiliate Coupon Page

Reference: Special Page for Travelers - Consumption Tax Duty Free Shop Site (Japan Tourism Agency)

Reference: [Inbound Duty Free System] Switching to a Refund Method from November 2026, the Cap on Consumables Also Abolished - Tourism Economic Newspaper