Japanese Yen | JPY | Japanese Currency | Yen Currency

Japanese Yen

Japanese yen:

Yen is the official currency of Japan. Meaning of Yen is ‘a round object'. After the U.S. dollar, the euro, Japanese Yen is the third most traded currency in the world and the most heavily traded currency after the U.S. dollar, the euro, and the pound sterling. One yen corresponds to 100 sen. However, except in stock market prices sen are usually not used in everyday life anymore. On June 27, 1871, the yen was officially adopted by the Meiji government in an Act signed.  

Before the Meiji Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations, but the New Currency Act of Meiji 4 (1871) did away with these and established the yen as the new decimal currency, which had parity with the Mexican silver dollar. The former han (fiefs) became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation the Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Since then, the Bank of Japan has been the exclusive note issuing authority.

Japanese Yen Currency:

Code:

JPY

Sub unit:

1/100 = sen

1/1000 = rin

Bank Notes:

¥1000, ¥2000, ¥5000, ¥10,000

Coins:

¥1, ¥5, ¥10, ¥50, ¥100, ¥500

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Central Bank:

Bank of Japan

Unofficial user:

Zimbabwe

Japanese Yen

Most traded currencies:

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