Japanese yen

  • japanese yen
    日本円 (japanese)
    jpy coins 2.png
    the 6 types of coins of the japanese yen
    iso 4217
    codejpy
    number392
    exponent0
    denominations
    subunit
     ​1100sen (錢 or 銭)
     ​11000rin (厘)
    pluralthe language(s) of this currency do(es) not have a morphological plural distinction.
    symbol¥ (international)
    (japan—present day)
    (japan—traditional)
    banknotes
     freq. used¥1,000, ¥5,000, ¥10,000
     rarely used¥2000[1][2]
    coins
     freq. used¥1, ¥5, ¥10, ¥50, ¥100, ¥500
    demographics
    official user(s) japan
    unofficial user(s) myanmar[3]
     zimbabwe
    issuance
    central bankwww.boj.or.jp
    printerwww.npb.go.jp
    mintwww.mint.go.jp
    valuation
    inflation0.5% 2019-cpi
     sourcestatistics bureau of japan[4]

    the yen (japanese: , hepburn: en, symbol: ¥; code: jpy; also abbreviated as jp¥) is the official currency of japan. it is the third most traded currency in the foreign exchange market after the united states dollar and the euro.[5] it is also widely used as a reserve currency after the u.s. dollar, the euro, and the pound sterling.

    the concept of the yen was a component of the meiji government's modernization program of japan's economy, which postulated the pursuit of a uniform currency throughout the country, modelled after the european decimal currency system. before the meiji restoration, japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. the new currency act of 1871 did away with these and established the yen, which was defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, as the new decimal currency. 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.[6]

    following world war ii the yen lost much of its prewar value. to stabilize the japanese economy the exchange rate of the yen was fixed at ¥360 per us$1 as part of the bretton woods system. when that system was abandoned in 1971, the yen became undervalued and was allowed to float. the yen had appreciated to a peak of ¥271 per us$1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per us$1 by 1980.

    since 1973, the japanese government has maintained a policy of currency intervention, and the yen is therefore under a "dirty float" regime. the japanese government focused on a competitive export market, and tried to ensure a low exchange rate for the yen through a trade surplus. the plaza accord of 1985 temporarily changed this situation: the exchange rate fell from its average of ¥239 per us$1 in 1985 to ¥128 in 1988 and led to a peak rate of ¥80 against the u.s. dollar in 1995, effectively increasing the value of japan’s gdp in us dollar terms to almost that of the united states. since that time, however, the world price of the yen has greatly decreased. the bank of japan maintains a policy of zero to near-zero interest rates and the japanese government has previously had a strict anti-inflation policy.[7]

  • pronunciation and etymology
  • history
  • coins
  • current banknotes
  • new banknotes
  • determinants of value
  • international reserve currency
  • historical exchange rate
  • see also
  • notes
  • references
  • further reading
  • external links

Japanese yen
日本円 (Japanese)
JPY coins 2.png
The 6 types of coins of the Japanese yen
ISO 4217
CodeJPY
Number392
Exponent0
Denominations
Subunit
 ​1100sen (錢 or 銭)
 ​11000rin (厘)
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol¥ (international)
(Japan—present day)
(Japan—traditional)
Banknotes
 Freq. used¥1,000, ¥5,000, ¥10,000
 Rarely used¥2000[1][2]
Coins
 Freq. used¥1, ¥5, ¥10, ¥50, ¥100, ¥500
Demographics
Official user(s) Japan
Unofficial user(s) Myanmar[3]
 Zimbabwe
Issuance
Central bankwww.boj.or.jp
Printerwww.npb.go.jp
Mintwww.mint.go.jp
Valuation
Inflation0.5% 2019-CPI
 SourceStatistics Bureau of Japan[4]

The yen (Japanese: , Hepburn: en, symbol: ¥; code: JPY; also abbreviated as JP¥) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro.[5] It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling.

The concept of the yen was a component of the Meiji government's modernization program of Japan's economy, which postulated the pursuit of a uniform currency throughout the country, modelled after the European decimal currency system. Before the Meiji Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. The New Currency Act of 1871 did away with these and established the yen, which was defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, as the new decimal currency. 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.[6]

Following World War II the yen lost much of its prewar value. To stabilize the Japanese economy the exchange rate of the yen was fixed at ¥360 per US$1 as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per US$1 by 1980.

Since 1973, the Japanese government has maintained a policy of currency intervention, and the yen is therefore under a "dirty float" regime. The Japanese government focused on a competitive export market, and tried to ensure a low exchange rate for the yen through a trade surplus. The Plaza Accord of 1985 temporarily changed this situation: the exchange rate fell from its average of ¥239 per US$1 in 1985 to ¥128 in 1988 and led to a peak rate of ¥80 against the U.S. dollar in 1995, effectively increasing the value of Japan’s GDP in US dollar terms to almost that of the United States. Since that time, however, the world price of the yen has greatly decreased. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has previously had a strict anti-inflation policy.[7]

Other Languages
Afrikaans: Jen
Alemannisch: Yen
العربية: ين ياباني
aragonés: Yen
অসমীয়া: জাপানীজ য়েন
asturianu: Yen
azərbaycanca: Yapon yeni
تۆرکجه: ژاپون یئنی
Bân-lâm-gú: Ji̍t-pún yen
башҡортса: Иена
беларуская: Іена
беларуская (тарашкевіца)‎: Ена
български: Японска йена
Boarisch: Yen
bosanski: Japanski jen
brezhoneg: Yen
буряад: Японой иен
català: Ien
Чӑвашла: Иена
čeština: Japonský jen
Cymraeg: Yen
dansk: Yen
Deutsch: Yen
Ελληνικά: Γιεν
español: Yen
Esperanto: Japana eno
euskara: Yen
فارسی: ین
Fiji Hindi: Japanese yen
français: Yen
galego: Ien
客家語/Hak-kâ-ngî: Ngi̍t-pún yen
한국어: 일본 엔
հայերեն: Իեն
हिन्दी: जापानी येन
hrvatski: Japanski jen
Ido: Yen
Ilokano: Yen ti Hapon
বিষ্ণুপ্রিয়া মণিপুরী: জাপানিজ ইয়েন
Ирон: Иенæ
íslenska: Japanskt jen
italiano: Yen
עברית: ין יפני
Jawa: Yen
къарачай-малкъар: Иена
қазақша: Жапон иені
kernowek: Yen
Kiswahili: Yen
Кыргызча: Япон иенасы
Ladino: Yen
ລາວ: ເຢນ
Latina: Ienum
latviešu: Japānas jena
lietuvių: Jena
lumbaart: Yen giapunes
magyar: Japán jen
македонски: Јапонски јен
मराठी: जपानी येन
მარგალური: იაპონური იენა
مازِرونی: ین
Bahasa Melayu: Yen
Minangkabau: Yen
Mìng-dĕ̤ng-ngṳ̄: Nĭk-buōng yen
Mirandés: Iene
монгол: Иен
မြန်မာဘာသာ: ဂျပန်ယန်းငွေ
Nāhuatl: Xapon Yen
Nederlands: Japanse yen
नेपाल भाषा: जापानी येन
日本語: 円 (通貨)
Nordfriisk: Yen
norsk nynorsk: Japansk yen
occitan: Yen
oʻzbekcha/ўзбекча: Iyena
ਪੰਜਾਬੀ: ਜਪਾਨੀ ਯੈੱਨ
پنجابی: ین
Patois: Japaniiz yen
Piemontèis: Yen
Plattdüütsch: Yen
polski: Jen
português: Iene
română: Yen
русиньскый: Японьскый єн
русский: Иена
саха тыла: Йена
Simple English: Yen
slovenčina: Jen
slovenščina: Jen
Soomaaliga: Yen
српски / srpski: Јапански јен
srpskohrvatski / српскохрватски: Jen
svenska: Yen
Tagalog: Yen ng Hapon
தமிழ்: யென்
tarandíne: Yen giappunise
татарча/tatarça: Иена
ไทย: เยน
тоҷикӣ: Йени Ҷопон
ತುಳು: ಯನ್
Türkçe: Japon yeni
Türkmençe: Ýen
українська: Єна
ئۇيغۇرچە / Uyghurche: يېن
vèneto: Yen
vepsän kel’: Japonijan jen
Tiếng Việt: Yên Nhật
Winaray: Yen han Hapon
吴语: 日圆
Yorùbá: Yen
粵語: 日圓
žemaitėška: Jena
中文: 日圓