Sign - ¥ / Code - JPY
Long before our corporate currency exchange brokers were helping our clients with their Japanese Yen transfers, the Yen was creating its own rich history.
About the Japanese Yen
Although currency was first used in Japan during the 8th Century, the Yen descended from the Spanish Pieces of Eight currency that circulated across the world.
Nevertheless, the Yen (meaning 'round object') was formally introduced in 1872 as part of a modernisation of the Japanese economy. Following Japan's defeat in the Second World War, the Yen was linked to the US Dollar under the Bretton Woods system, before being floated on the markets in 1973.
Currently, the Yen is under a system of floating exchange rates and is the third most traded currency on the FX market.
Subunit: Sen - 1/100
Coins: ¥1, ¥5, ¥10, ¥50, ¥100, ¥500
Banknotes: ¥1000, ¥5000, ¥10000
Bank: Bank of Japan
Posted in Currency Wiki on Jun 27 2017