JPY – Japanese Yen

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.

Denominations

Subunit: Sen – 1/100

Coins: ¥1, ¥5, ¥10, ¥50, ¥100, ¥500

Banknotes: ¥1000, ¥5000, ¥10000

Bank: Bank of Japan