About the Japanese Yen
The Yen was introduced by the Meiji government in 1871 to modernize Japan's currency system. It was a key part of the country's rapid industrialization.
The name 'Yen' (円) literally means 'round object' in Japanese, referring to the shape of the coins.
Interesting Facts
A Premier Safe-Haven
Along with the Swiss Franc, the Japanese Yen is considered a top 'safe-haven' currency. Investors often buy Yen during periods of global economic uncertainty.
The Carry Trade
Due to Japan's historically low interest rates, the Yen is a popular currency for 'carry trades', where investors borrow Yen to invest in higher-yielding currencies.
The Great Wave
The reverse of the 1000 Yen note famously features 'The Great Wave off Kanagawa' by artist Hokusai, one of the most recognizable pieces of Japanese art.
Historical Timeline
The Yen is adopted as Japan's official currency.
The Bank of Japan is established.
The Yen is pegged to the U.S. Dollar at a rate of 360 JPY to 1 USD under the Bretton Woods system.
The Yen becomes a free-floating currency.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- JPY
- Symbol
- ¥
- Numeric Code
- 392
- Subunit
- Sen (1/100)
- Introduced
- 1871-05-27
Central Bank
- Name
- Bank of Japan
- Headquarters
- Tokyo, Japan
- Founded
- 1882
- Current Governor
- Kazuo Ueda (since 2023)
Economic Data
- Reserve Currency Share
- 5.7%
- Forex Volume Share
- 16.8%
- Inflation Rate
- 2.2%
- Interest Rate
- 0.10%
Exchange Rates
What Affects the JPY Exchange Rate?
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