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Encyclopedia > Japanese yen
Japanese yen
日本円 (Japanese)
Circulated coins in all 6 denominations
¥10000 engraved by Edoardo Chiossone Circulated coins in all 6 denominations
ISO 4217 Code JPY
User(s) Flag of Japan Japan
Inflation 0.0%
Source The World Factbook, 2007 est.
Subunit
1/100 sen
1/1000 rin
Symbol ¥
Plural The language(s) of this currency does not have a morphological plural distinction.
Coins ¥1, ¥5, ¥10, ¥50, ¥100, ¥500
Banknotes ¥1000, ¥2000, ¥5000, ¥10000
Central bank Bank of Japan
Website www.boj.or.jp
Printer National Printing Bureau
Website www.npb.go.jp
Mint Japan Mint
Website www.mint.go.jp

The yen (Japanese(en?)) is the currency of Japan. It is the third most-traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling. The ISO 4217 codes for the yen are JPY and 392. The romanised symbol is ¥ while in Japanese it is also written with the kanji . While not a usage specific to currency, large quantities of yen are often counted in multiples of 10,000 (man, 万) in the same way as values in the United States are often quoted or rounded off to hundreds or thousands. The yen is a unit of currency. ... John Paul Young John Paul Young (June 21, 1950–) is an Australian singer. ... 10,000 yen note from Japan, with Fukuzawa Yukichis portrait. ... Image File history File links JPY_coin2. ... Edoardo Chiossone (1833 - April 11, 1898) was an Italian o-yatoi gaikokujin. ... Image File history File links Flag_of_Japan. ... Â¥ Â¥9 Chinese price sticker Â¥ is a currency sign used for the following currencies: Chinese yuan (CNY) Japanese yen (JPY) The base unit of the two currencies above share the same Chinese character (圓/å…ƒ/円), pronounced yuan in Mandarin Chinese and en in Standard Japanese. ... Look up plural in Wiktionary, the free dictionary. ... The 5 yen coin is one denomination of Japanese yen. ... There are very few or no other articles that link to this one. ... The 500 yen coin go-hyaku en kooka) is the largest coin denomination of the Japanese yen. ... The Bank of Japan has its headquarters in this building in Tokyo. ... The word printer is used to describe a company that provides commercial printing services, involving typesetting, printing and book-binding. ... A mint is a facility which manufactures coins for currency. ... Japan Mint ) is an Incorporated Administrative Agency of the Japanese government. ... Forex can relate to: Foreign Exchange - an abbreviation for Foreign Exchange, often used in relation to currency exchange markets. ... USD redirects here. ... For other uses, see Euro (disambiguation). ... Percentage of global currencies A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ... GBP redirects here. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... Languages can be romanized in a variety of ways, as shown here with Mandarin Chinese In linguistics, romanization (or Latinization, also spelled romanisation or Latinisation) is the representation of a word or language with the Roman (Latin) alphabet, or a system for doing so, where the original word or language... Japanese writing Kanji Kana Hiragana Katakana Hentaigana Manyōgana Uses Furigana Okurigana Rōmaji   ) are the Chinese characters that are used in the modern Japanese logographic writing system along with hiragana (平仮名), katakana (片仮名), and the Arabic numerals. ...

Contents

Etymology

In Japanese, the yen is pronounced "en" but the spelling and pronunciation of "yen" is standard in English due to a historical Portuguese transliteration. The inclusion of the letter y is based on romanization of an obsolete writing of the word which included the kana ゑ (ye/we), examples of which can also be found in such words as Yebisu, Iyeyasu, and Yedo (it was still pronounced, however, as e). The romanization of yen has become a permanent feature. The English language is a West Germanic language that originates in England. ... Transliteration is the practice of transcribing a word or text written in one writing system into another writing system. ... Languages can be romanized in a variety of ways, as shown here with Mandarin Chinese In linguistics, romanization (or Latinization, also spelled romanisation or Latinisation) is the representation of a word or language with the Roman (Latin) alphabet, or a system for doing so, where the original word or language... Japanese writing Kanji 漢字 Kana 仮名 Hiragana 平仮名 Katakana 片仮名 Manyogana 万葉仮名 Uses Furigana 振り仮名 Okurigana 送り仮名 Rōmaji ローマ字 For other meanings of Kana, see Kana (disambiguation). ... ã‚‘, in hiragana, or ヱ in katakana, is an obsolete Japanese kana, each of which represent one mora. ... Statue of Yebisu in Kesennuma, Japan Yebisu (恵比須, 恵比寿, 夷, 戎) is also called Ebisu, Hiruko (蛭子), and Kotoshiro-nushi-no-kami (事代主神). He is the Japanese god of fishermen, good luck, and workingmen. ... Tokugawa Ieyasu January 31, 1543 – June 1, 1616)was the founder and first shogunof the Tokugawa shogunateof Japanwhich ruled from the Battle of Sekigaharain 1600until the Meiji Restorationin 1868. ... Edo (Japanese: , literally: bay-door, estuary, pronounced //), once also spelled Yedo or Yeddo, is the former name of the Japanese capital Tokyo. ...


History

Introduction

1 yen convertible silver note issued in 1885
1 yen convertible silver note issued in 1885

The yen was introduced by the Meiji government in 1872 as a system resembling those in Europe. The yen replaced the complex monetary system of the Edo period, based on the mon. The New Currency Act of 1871 stipulated the adoption of the decimal accounting system of yen (1, 圓), sen (1100, 錢), and rin (11000, 厘), with the coins being round and cast as in the West. The yen was legally defined as 0.78 troy ounces (24.26 g) of pure silver, or 1.5 grams of pure gold. The same amount of silver is worth about 1181 modern yen,[1] while the same amount of gold is worth about 3572 yen.[2] The Act also moved Japan onto the gold standard. (The sen and the rin were eventually taken out of circulation at the end of 1953.[3]) Image File history File links Metadata Size of this preview: 512 × 600 pixelsFull resolution‎ (536 × 628 pixels, file size: 116 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... Image File history File links Metadata Size of this preview: 512 × 600 pixelsFull resolution‎ (536 × 628 pixels, file size: 116 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... The Meiji period ), or Meiji era, denotes the 45-year reign of Emperor Meiji, running, in the Gregorian calendar, from 23 October 1868 to 30 July 1912. ... For other uses, see Europe (disambiguation). ... The Edo period ), also called Tokugawa period, is a division of Japanese history running from 1603 to 1868. ... Troy ounce is a traditional unit of gold weight. ... For other uses, see Gold standard (disambiguation). ...


Fixed value of the yen to the US dollar

The yen lost most of its value during and after World War II. After a period of instability, in 1949, the value of the yen was fixed at ¥360 per US$1 through a United States plan, which was part of the Bretton Woods System, to stabilize prices in the Japanese economy. That exchange rate was maintained until 1971, when the United States abandoned the gold standard, which had been a key element of the Bretton Woods System, and imposed a 10 percent surcharge on imports, setting in motion changes that eventually led to floating exchange rates in 1973. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... USD redirects here. ... Wikipedia does not have an article with this exact name. ... Japans industrialized, free-market economy is the worlds third-largest, adjusted to purchasing power parity (PPP), after the United States, and Peoples Republic of China. ... For other uses, see Gold standard (disambiguation). ... An import duty is a tariff paid at a border or port of entry to the relevant government to allow a good to pass into that governments territory. ... International trade is the exchange of goods and services across international borders. ... A floating exchange rate or a flexible exchange rate is a type of exchange rate regime wherein a currencys value is allowed to fluctuate according to the foreign exchange market. ...


Undervalued yen

By 1971 the yen had become undervalued. Japanese exports were costing too little in international markets, and imports from abroad were costing the Japanese too much. This undervaluation was reflected in the current account balance, which had risen from the deficits of the early 1960s to a then-large surplus of U.S. $5.8 billion in 1971. The belief that the yen, and several other major currencies, were undervalued motivated the United States' actions in 1971. The current account of the balance of payments is the sum of the balance of trade (exports less imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). ... Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ... Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ...


Yen and major currencies float

Following the United States' measures to devalue the dollar in the summer of 1971, the Japanese government agreed to a new, fixed exchange rate as part of the Smithsonian Agreement, signed at the end of the year. This agreement set the exchange rate at ¥308 per US$1. However, the new fixed rates of the Smithsonian Agreement were difficult to maintain in the face of supply and demand pressures in the foreign-exchange market. In early 1973, the rates were abandoned, and the major nations of the world allowed their currencies to float. The Smithsonian Agreement was a December 1971 agreement that ended the fixed exchange rates established at the Bretton Woods Conference of 1944. ...


Japanese government intervention in the currency market

In the 1970s, Japanese government and business people were very concerned that a rise in the value of the yen would hurt export growth by making Japanese products less competitive and would damage the industrial base. The government therefore continued to intervene heavily in foreign-exchange marketing (buying or selling dollars), even after the 1973 decision to allow the yen to float.


Despite intervention, market pressures caused the yen to continue climbing in value, peaking temporarily at an average of ¥271 per US$1 in 1973 before the impact of the 1973 oil crisis was felt. The increased costs of imported oil caused the yen to depreciate to a range of ¥290 to ¥300 between 1974 and 1976. The re-emergence of trade surpluses drove the yen back up to ¥211 in 1978. This currency strengthening was again reversed by the second oil shock in 1979, with the yen dropping to ¥227 by 1980. The 1973 oil crisis began in earnest on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship petroleum... Petro redirects here. ... Line at a gas station, June 15, 1979. ...


Yen in the early 1980s

During the first half of the 1980s, the yen failed to rise in value even though current account surpluses returned and grew quickly. From ¥221 in 1981, the average value of the yen actually dropped to ¥239 in 1985. The rise in the current account surplus generated stronger demand for yen in foreign-exchange markets, but this trade-related demand for yen was offset by other factors. A wide differential in interest rates, with United States interest rates much higher than those in Japan, and the continuing moves to deregulate the international flow of capital, led to a large net outflow of capital from Japan. This capital flow increased the supply of yen in foreign-exchange markets, as Japanese investors changed their yen for other currencies (mainly dollars) to invest overseas. This kept the yen weak relative to the dollar and fostered the rapid rise in the Japanese trade surplus that took place in the 1980s. An interest rate is the rental price of money. ... Deregulation is the process by which governments remove, reduce, or simplify restrictions on business and individuals in order to (in theory) encourage the efficient operation of markets. ... Not to be confused with capitol. ...


Effect of the Plaza Accord

In 1985 a dramatic change began. Finance officials from major nations signed an agreement (the Plaza Accord) affirming that the dollar was overvalued (and, therefore, the yen undervalued). This agreement, and shifting supply and demand pressures in the markets, led to a rapid rise in the value of the yen. From its average of ¥239 per US$1 in 1985, the yen rose to a peak of ¥128 in 1988, virtually doubling its value relative to the dollar. After declining somewhat in 1989 and 1990, it reached a new high of ¥123 to US$1 in December 1992. In April 1995, the yen hit a peak of under 80 yen per dollar, temporarily making Japan's economy nearly the size of the US. The Plaza Accord was an agreement signed on September 22, 1985 at the Plaza Hotel in New York City by 5 nations - France, West Germany, Japan, the United States and the United Kingdom. ...


Post-bubble years

The yen declined during the Japanese asset price bubble and continued to do so afterwards, reaching a low of ¥134 to US$1 in February 2002. The Bank of Japan's policy of zero interest rates has discouraged yen investments, with the carry trade of investors borrowing yen and investing in better-paying currencies (thus further pushing down the yen) estimated to be as large as $1 trillion.[4] In February 2007, The Economist estimated that the yen is 15% undervalued against the dollar and as much as 40% undervalued against the euro.[5] . Inflation-adjusted house prices in Japan (1980–2005) compared to house price appreciation the United States, Britain, and Australia (1995–2005). ... The Bank of Japan has its headquarters in this building in Tokyo. ... An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ... The carry of an asset is the return obtained from holding it (if positive), or the cost with holding it (if negative). ... One million million (1,000,000,000,000) is the natural number following 999,999,999,999 and preceding 1,000,000,000,001. ... The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd and edited in London. ...


Coins

A silver one-yen coin of 1870
A silver one-yen coin of 1870

Coins were introduced in 1870. There were silver 5, 10, 20 and 50 sen and 1 yen, and gold 2, 5, 10 and 20 yen. Gold 1 yen were introduced in 1871, followed by copper 1 rin, ½, 1 and 2 sen in 1873.


Cupronickel 5 sen coins were introduced in 1889. In 1897, the silver 1 yen coin was demonetized and the sizes of the gold coins were reduced by 50%, with 5, 10 and 20 yen coins issued. In 1920, cupro-nickel 10 sen coins were introduced. Cupronickel is an alloy of copper, nickel and strengthening impurities, such as iron and manganese. ...


Production of silver coins ceased in 1938, after which a variety of base metals were used to produce 1, 5 and 10 sen coins during the Second World War. Clay 5 and 10 sen coins were produced in 1945 but not issued for circulation. Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ...


After the war, brass 50 sen, 1 and 5 yen were introduced between 1946 and 1948. In 1949, the current type of holed 5 yen was introduced, followed by bronze 10 yen (of the type still in circulation) in 1951.

Japanese 10 yen coin (obverse) showing Phoenix Hall of Byōdō-in
Japanese 10 yen coin (obverse) showing Phoenix Hall of Byōdō-in

Coins in denominations of less than 1 yen became invalid on December 31, 1953, following enforcement of the Small Currency Disposition and Fractional Rounding in Payments Act (小額通貨の整理及び支払金の端数計算に関する法律 Shōgaku tsūka no seiri oyobi shiharaikin no hasūkeisan ni kan suru hōritsu?). ImageMetadata File history File links JuEnDamaByodoinWP.jpg 10 Yen coin of Japan. ... ImageMetadata File history File links JuEnDamaByodoinWP.jpg 10 Yen coin of Japan. ... In logic (and usually without being paired with reverse), obverse has a meaning close to contrapositive. ... Byodoin Phoenix Hall Built in 998 in the Heian period, Byōdōin (平等院) is a temple in the city of Uji in Kyoto prefecture in Japan. ... is the 365th day of the year (366th in leap years) in the Gregorian calendar. ... Year 1953 (MCMLIII) was a common year starting on Thursday (link will display full calendar) of the Gregorian calendar. ...


In 1955, the current type of aluminium 1 yen was introduced, along with unholed, nickel 50 yen. In 1957, silver 100 yen pieces were introduced. These were replaced in 1967 by the current, cupro-nickel type, along with the holed 50 yen coin. In 1982, the first 500 yen coins were introduced.[6]


The date is on the reverse of all coins, and, in most cases, the name 日本国, Nihonkoku (Japan) and the value in kanji is on the obverse, except for the 5-yen where Nihonkoku is on the reverse.


500 yen coins are probably the highest valued coins to be used regularly in the world (with rates in the neighbourhood of US$4.10, €3.05, and £2.10). The United States' largest-valued commonly-used coin (25¢) is worth around 26 yen; the Eurozone's largest (€2) is worth ¥279, and the United Kingdom's largest (£2) is worth ¥402 (as of March 2005). The Swiss 5-franc coin is currently (as of April 2007) worth about ¥495. No doubt because of this high face value, the 500 yen has been a favourite target for counterfeiters. It was counterfeited to such an extent that in 2000 a new series of coins was issued with various security features. In spite of these changes, however, counterfeiting continues. The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ...


On various occasions, commemorative coins are minted using gold and silver with various face values, up to 100,000 yen.[7] Even though they can be used, they are treated as collectibles.


Instead of displaying the A.D. year of mintage like most nations' coins, yen coins instead display the year of the current emperor's reign. For example, a coin minted in 2006 would bear the date Heisei 18 (the 18th year of Emperor Akihito's reign).[8] Look up AD in Wiktionary, the free dictionary AD or ad may stand for: ad or advertisement, see advertising ad- prefix Administrative domain Air Defence Andorra, ISO 3166-1 alpha-2 country code Anno Domini (In the Year of [Our] Lord). This year is A.D. 2005. ... Japanese era name (年号, nengō, lit. ... Heisei (Japanese: 平成) is the current era name in Japan. ... For Prince Komatsu, see Prince Komatsu Akihito. ...

Currently circulating coins [1]
Image Value Technical parameters Description Date of first minting
Diameter Thickness Mass Composition Edge Obverse Reverse
¥1 20 mm 1.2 mm 1 g 100% aluminium Smooth Young tree, state title, value Value, year of minting 1955
¥5 22 mm 1.5 mm 3.75 g 60–70% copper
30–40% zinc
Smooth Ear of Rice, gear, water, value State title, year of minting 1949
¥10 23.5 mm 1.5 mm 4.5 g 95% copper
3–4% zinc
1–2% tin
Milled Hōōdō Temple, Byōdō-in, state title, value Evergreen tree, value, year of minting 1951
Smooth 1959
¥50 21 mm 1.7 mm 4 g Cupronickel
75% copper
25% nickel
Milled Chrysanthemum, state title, value Value, year of minting 1967
¥100 22.6 mm 1.7 mm 4.8 g Cherry blossoms, state title, value 1967
¥500 26.5 mm 2 mm 7.2 g Cupronickel
75% copper
25% nickel
Smooth with lettering ("NIPPON ◆ 500 ◆ NIPPON ◆ 500 ◆") Paulownia, state title, value Value, bamboo, Mandarin orange, year of minting 1982
¥500 7 g 72% copper
20% zinc
8% nickel
Reeded slantingly Value, bamboo, Mandarin orange, year of minting, latent image [2] 2000
These images are to scale at 2.5 pixels per millimeter, a Wikipedia standard for world coins. For table standards, see the coin specification table.

Image File history File links 1JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen ... Aluminum redirects here. ... Image File history File links 5JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen 5 yen coin ... The 5 yen coin is one denomination of Japanese yen. ... For other uses, see Copper (disambiguation). ... General Name, symbol, number zinc, Zn, 30 Chemical series transition metals Group, period, block 12, 4, d Appearance bluish pale gray Standard atomic weight 65. ... Image File history File links 10JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen 10 yen coin ... There are very few or no other articles that link to this one. ... For other uses, see Copper (disambiguation). ... General Name, symbol, number zinc, Zn, 30 Chemical series transition metals Group, period, block 12, 4, d Appearance bluish pale gray Standard atomic weight 65. ... This article is about the metallic chemical element. ... Byodoin Phoenix Hall Built in 998 in the Heian period, Byōdōin (平等院) is a temple in the city of Uji in Kyoto prefecture in Japan. ... Image File history File links 50JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen ... Cupronickel is an alloy of copper, nickel and strengthening impurities, such as iron and manganese. ... For other uses, see Copper (disambiguation). ... For other uses, see Nickel (disambiguation). ... Species Chrysanthemum aphrodite Chrysanthemum arcticum Chrysanthemum argyrophyllum Chrysanthemum arisanense Chrysanthemum boreale Chrysanthemum chalchingolicum Chrysanthemum chanetii Chrysanthemum cinerariaefolium Chrysanthemum coronarium, Crown daisy Chrysanthemum crassum Chrysanthemum glabriusculum Chrysanthemum hypargyrum Chrysanthemum indicum Chrysanthemum japonense Chrysanthemum japonicum Chrysanthemum lavandulifolium Chrysanthemum mawii Chrysanthemum maximowiczii Chrysanthemum mongolicum Chrysanthemum morifolium Chrysanthemum morii Chrysanthemum okiense Chrysanthemum oreastrum Chrysanthemum... Image File history File links 100JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen ... Washington, D.C. Tidal Basin showing cherry trees in flower Cherry tree blossoms A cherry is both a tree and its fleshy fruit, a type known as a drupe with a single hard pit enclosing the seed. ... The 500 yen coin go-hyaku en kooka) is the largest coin denomination of the Japanese yen. ... Cupronickel is an alloy of copper, nickel and strengthening impurities, such as iron and manganese. ... For other uses, see Copper (disambiguation). ... For other uses, see Nickel (disambiguation). ... Species Between 6-17 species, including: Paulownia catalpifolia Paulownia elongata Paulownia fargesii Paulownia fortunei Paulownia kawakamii Paulownia taiwaniana Paulownia tomentosa Paulownia is a genus of between 6-17 species (depending on taxonomic authority) of plants in the monogeneric family Paulowniaceae, related to and sometimes included in the Scrophulariaceae. ... For other uses, see Bamboo (disambiguation). ... Binomial name The Mandarin orange or mandarin (瓯柑) is a small citrus tree (Citrus reticulata) with fruit resembling the orange. ... Image File history File links 500JPY.JPG Japanese coin (硬貨) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Japanese yen ... The 500 yen coin go-hyaku en kooka) is the largest coin denomination of the Japanese yen. ... For other uses, see Copper (disambiguation). ... General Name, symbol, number zinc, Zn, 30 Chemical series transition metals Group, period, block 12, 4, d Appearance bluish pale gray Standard atomic weight 65. ... For other uses, see Bamboo (disambiguation). ... Binomial name The Mandarin orange or mandarin (瓯柑) is a small citrus tree (Citrus reticulata) with fruit resembling the orange. ...

Banknotes

A series D 1000 yen note, featuring the portrait of Natsume Sōseki.
A series D 1000 yen note, featuring the portrait of Natsume Sōseki.
Main article: Banknotes of the Japanese yen

The issuance of the yen banknotes began in 1872, two years after the currency was introduced. Throughout its history, the denominations have ranged from 10 sen to 10,000 yen. Image File history File links Download high resolution version (889x448, 198 KB) Image of Natsume Sōseki on a 1000 yen note Images on Currency are Public Domain. ... Image File history File links Download high resolution version (889x448, 198 KB) Image of Natsume Sōseki on a 1000 yen note Images on Currency are Public Domain. ... Natsume Soseki on the former 1000 yen note. ...


Before and during World War II, various bodies issued banknotes in yen, such as the Ministry of Finance and the Imperial Japanese National Bank. The Allied forces also issued some notes shortly after the war. Since then, the Bank of Japan has been the exclusive note issuing authority. The bank has issued five series after World War II. Series E, the current series, consists of ¥1000,¥2000, ¥5000, and ¥10,000. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... The Bank of Japan has its headquarters in this building in Tokyo. ...


Determinants of value

The relative value of the yen is determined in foreign exchange markets by the economic forces of supply and demand. The supply of the yen in the market is governed by the desire of yen holders to exchange their yen for other currencies to purchase goods, services, or assets. The demand for the yen is governed by the desire of foreigners to buy goods and services in Japan and by their interest in investing in Japan (buying yen-denominated real and financial assets). Relative value is the attractiveness measured in terms of risk, liquidity, and return of one instrument relative to another, or for a given instrument, of one maturity relative to another. ... The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Look up supply in Wiktionary, the free dictionary. ... Look up Market in Wiktionary, the free dictionary. ... Good. ... This article is about a term used in economics. ... This article is about the business definition. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Investment is a term with several closely related meanings in finance and economics. ...


Beginning in December 1931, Japan gradually shifted from the gold standard system to the managed currency system.[9]


International reserve currency

Main article: Reserve currency
Currency composition of official foreign exchange reserves
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07
US dollar 59.0% 62.1% 65.2% 69.3% 70.9% 70.5% 70.7% 66.5% 65.8% 65.9% 66.4% 65.7% 63.3%
Euro 17.9% 18.8% 19.8% 24.2% 25.3% 24.9% 24.3% 25.2% 26.5%
German mark 15.8% 14.7% 14.5% 13.8%
Pound sterling 2.1% 2.7% 2.6% 2.7% 2.9% 2.8% 2.7% 2.9% 2.6% 3.3% 3.6% 4.2% 4.7%
Japanese yen 6.8% 6.7% 5.8% 6.2% 6.4% 6.3% 5.2% 4.5% 4.1% 3.9% 3.7% 3.2% 2.9%
French franc 2.4% 1.8% 1.4% 1.6%
Swiss franc 0.3% 0.2% 0.4% 0.3% 0.2% 0.3% 0.3% 0.4% 0.2% 0.2% 0.1% 0.2% 0.2%
Other 13.6% 11.7% 10.2% 6.1% 1.6% 1.4% 1.2% 1.4% 1.9% 1.8% 1.9% 1.5% 1.8%
Sources: 1995-1999, 2006-2007 IMF: Currency Composition of Official Foreign Exchange ReservesPDF (80 KB)
Sources: 1999-2005, ECB: The Accumulation of Foreign ReservesPDF (816 KB)           v  d  e       

Percentage of global currencies A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ... Percentage of global currencies A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ... USD redirects here. ... For other uses, see Euro (disambiguation). ... The Deutsche Mark (DM, DEM) was the official currency of West and, from 1990, unified Germany. ... GBP redirects here. ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... ISO 4217 Code CHF User(s) Switzerland, Liechtenstein, Campione dItalia Inflation 1. ... A list of all currencies, current and historic. ... IMF redirects here. ... “PDF” redirects here. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... “PDF” redirects here. ...

Historical exchange rate

The table below shows the number of yen per U.S. dollar. (monthly average) USD redirects here. ...

Year Month
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1949–71 360
1972 308
1973 301.15 270.00 265.83 265.50 264.95 265.30 263.45 265.30 265.70 266.68 279.00 280.00
1974 299.00 287.60 276.00 279.75 281.90 284.10 297.80 302.70 298.50 299.85 300.10 300.95
1975 297.85 286.60 293.80 293.30 291.35 296.35 297.35 297.90 302.70 301.80 303.00 305.15
1976 303.70 302.25 299.70 299.40 299.95 297.40 293.40 288.76 287.30 293.70 296.45 293.00
1977 288.25 283.25 277.30 277.50 277.30 266.50 266.30 267.43 264.50 250.65 244.20 240.00
1978 241.74 238.83 223.40 223.90 223.15 204.50 190.80 190.00 189.15 176.05 197.80 195.10
1979 201.40 202.35 209.30 219.15 219.70 217.00 216.90 220.05 223.45 237.80 249.50 239.90
1980 238.80 249.80 249.70 238.30 224.40 218.15 226.85 219.20 212.00 211.75 216.75 203.60
1981 205.20 208.85 211.40 215.00 223.50 225.75 239.75 228.75 231.55 233.35 214.15 220.25
1982 228.45 235.20 248.30 236.30 243.70 255.55 256.65 259.60 269.40 277.40 253.45 235.30
1983 238.40 235.55 239.30 237.70 238.60 239.80 241.50 246.75 236.10 233.65 234.20 232.00
1984 234.74 233.28 224.75 226.30 231.63 237.45 245.45 241.70 245.40 245.30 246.50 251.58
1985 254.78 259.00 250.70 251.40 251.78 248.95 236.65 237.10 216.00 211.80 202.05 200.60
1986 192.65 180.45 179.65 168.10 172.05 163.95 154.15 156.05 153.63 161.45 162.20 160.10
1987 152.30 153.15 145.65 139.65 144.15 146.75 149.25 142.35 146.35 138.55 132.45 122.00
1988 127.18 128.12 124.50 124.82 124.80 132.20 132.53 134.97 134.30 125.00 121.85 125.90
1989 129.13 127.15 132.55 132.49 142.70 143.95 138.40 144.28 139.35 142.15 142.90 143.40
1990 144.40 148.52 157.65 159.08 151.75 152.85 147.50 144.50 137.95 129.35 132.75 135.40
1991 131.40 131.95 140.55 137.42 137.97 138.15 137.83 136.88 132.95 131.00 130.07 125.25
1992 125.78 129.33 133.05 133.38 128.33 125.55 127.30 123.42 119.25 123.35 124.75 124.65
1993 124.30 117.85 115.35 111.10 107.45 106.51 105.60 104.18 105.10 108.23 108.82 111.89
1994 109.55 104.30 102.80 102.38 104.38 98.95 99.93 99.57 98.59 97.37 98.98 99.83
1995 98.58 96.93 88.38 83.77 83.19 84.77 88.17 97.46 98.18 101.90 101.66 102.91
1996 106.92 104.58 106.49 104.29 108.37 109.88 107.13 108.40 111.45 113.27 113.44 115.98
1997 122.13 120.88 123.97 126.92 116.43 114.30 117.74 119.39 121.44 120.29 127.66 129.92
1998 127.34 126.72 133.39 131.95 138.72 139.95 143.79 141.52 135.72 116.09 123.83 115.20
1999 115.98 120.32 119.99 119.59 121.37 120.87 115.27 110.19 105.66 104.89 102.42 102.08
2000 106.90 110.27 105.29 106.44 107.30 105.40 109.52 106.43 107.75 108.81 111.07 114.90
2001 116.38 116.44 125.27 124.06 119.06 124.27 124.79 118.92 119.29 121.84 123.98 131.47
2002 132.94 133.89 132.71 127.97 123.96 119.22 119.82 117.97 121.79 122.48 122.44 119.37
2003 119.21 117.75 119.02 119.46 118.63 119.82 120.11 117.13 110.48 108.99 109.34 106.97
2004 105.88 109.08 103.95 110.44 109.56 108.69 111.67 109.86 110.92 105.87 103.17 103.78
2005 103.58 104.58 106.97 105.87 108.17 110.37 112.18 111.42 113.28 115.67 119.46 117.48
2006 117.18 116.35 117.47 114.32 111.85 114.66 114.47 117.23 117.91 118.01 117.23 115.57
2007 118.72 121.29 115.86 117.83* 119.52* 122.67 118.99 116.24 115.27 114.78 110.29 113.12
2008 106.57 107.18 102.49 Source:[10]

* Monthly close from Bloomberg Bloomberg L.P. is the largest financial news and data company in the world, controlling 33% of market share. ...

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See also

Japan Mint ) is an Incorporated Administrative Agency of the Japanese government. ... User(s) Areas occupied by Japan during World War II Subunit 100 sen Symbol ¥ Coins none Banknotes 1 sen, 5 sen, 50 sen, ¥1, ¥5, ¥10, ¥100 Ministry of War of Japan This infobox shows the latest status before this currency was rendered obsolete. ... Japans industrialized, free-market economy is the worlds third-largest, adjusted to purchasing power parity (PPP), after the United States, and Peoples Republic of China. ... // History After World War II, Japans return to world capital markets as a borrower was slow and deliberate. ... Monetary policy pertains to the regulation, availability, and cost of credit, while fiscal policy deals with government expenditures, taxes, and debt. ... In its balance of payments accounts, Japan has traditionally run a deficit in services. ...

References

  1. ^ xe.com (2006-09-07). Equivalent of 0.78 troy ounce of silver in yen. Retrieved on 2006-09-07.
  2. ^ xe.com (2006-09-07). Equivalent of 0.04822612 troy ounce of gold in yen. Retrieved on 2006-09-07.
  3. ^ A law of the abolition of currencies in a small denomination and rounding off a fraction, July 15 1953 Law No.60 (小額通貨の整理及び支払金の端数計算に関する法律 Shōgakutsūka no seiri oyobi shiharaikin no hasūkeisan ni kansuru hōritsu?))
  4. ^ What keeps bankers awake at night?, The Economist, Feb 1st 2007
  5. ^ Japan's currency | Carry on living dangerously | Economist.com
  6. ^ Japan Mint. Number of Coin Production (calendar year). Archived from the original on 2006-11-10. Retrieved on 2006-09-07.
  7. ^ Japan Mint. Commemorative Coins issued up to now. Archived from the original on 2006-11-09. Retrieved on 2006-09-07.
  8. ^ Japan Mint. Designs of circulating coins. Retrieved on 2007-12-26.
  9. ^ Japan Mint. 2006 75th anniversary of Japan's shift from gold standard to managed currency system. Retrieved on 2007-12-26.
  10. ^ Bank of Japan (2006-09-07). Foreign Exchange Rates. Retrieved on 2006-09-07.

This article contains material from the Library of Congress Country Studies, which are United States government publications in the public domain. Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 314th day of the year (315th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 313th day of the year (314th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 360th day of the year (361st in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 360th day of the year (361st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... The Country Studies are works published by the Federal Research Division of the Library of Congress ( USA), freely available for use by researchers. ... The U.S. Constitution, adopted in 1789 by a constitutional convention, sets down the basic framework of American government in its seven articles. ... The public domain comprises the body of all creative works and other knowledge—writing, artwork, music, science, inventions, and others—in which no person or organization has any proprietary interest. ...


Further reading

Isaac Titsingh (born 10 January 1745 in Amsterdam, died 2 February 1812 in Paris) [1]. Dutch surgeon, scholar, merchant-trader and ambassador. ... Hayashi Gahō (林鵞峰) (1618 – 1688) was a Japanese Neo-Confucian scholar, teacher and administrator in the system of higher education maintained by the Tokugawa bakufu during the Edo period. ... Nihon odai ichiran , Table of the rulers of Japan) is a 17th century chronicle of the serial reigns of Japanese emperors with brief notes about some of the noteworthy events or other happenings during each period. ... Article 90a of the bylaws of the Royal Asiatic Society. ...

External links

Wikimedia Commons has media related to:
Japanese yen

Image File history File links No higher resolution available. ...

German

Preceded by:
Japanese mon
Currency of Japan
1870 –
Succeeded by:
Current
The Bank of Japan has its headquarters in this building in Tokyo. ... Japan Mint ) is an Incorporated Administrative Agency of the Japanese government. ... The 5 yen coin is one denomination of Japanese yen. ... There are very few or no other articles that link to this one. ... The 500 yen coin go-hyaku en kooka) is the largest coin denomination of the Japanese yen. ... For other uses, see Asia (disambiguation). ... The afghani is the official currency used in Afghanistan. ... ISO 4217 Code KZT User(s) Kazakhstan Inflation 8. ... Five Kyrgyzstani Som Note (1997) 100 Kyrgystani Som Notes (2002) The Kyrgyzstani Som (sometimes transliterated Sum or Soum) is the currency of the Republic of Kyrgyzstan in Central Asia. ... ISO 4217 Code MNT User(s) Mongolia Inflation 9. ... ISO 4217 Code RUB User(s) Russia and self-proclaimed Abkhazia and South Ossetia Inflation 7% Source Rosstat, 2007 Subunit 1/100 kopek (копейка) Symbol руб kopek (копейка) к Plural The language(s) of this currency is of the Slavic languages. ... The Somoni (Tajik: ) is the currency of Tajikistan. ... The manat is the currency unit of Turkmenistan. ... The som (so‘m in Uzbek) is the currency of Uzbekistan in Central Asia. ... CNY and RMB redirect here. ... ISO 4217 Code HKD User(s) Hong Kong Inflation 2. ... The pataca is the monetary unit of Macau (currency code MOP; Chinese: 澳門圓), made up of 100 avos. ... 5000 KPW issued in 2002 The won is the currency of North Korea. ... ISO 4217 Code TWD User(s) Republic of China Inflation 0. ... ISO 4217 Code KRW User(s) Republic of Korea Inflation 2. ... ISO 4217 Code BND User(s) Brunei, Singapore Inflation 0. ... Riel (Khmer: , Symbol ) is the national currency of Cambodia. ... ISO 4217 Code IDR User(s) Indonesia Inflation 6. ... Kip is the currency of Laos. ... ISO 4217 Code MYR User(s) Malaysia Inflation 2. ... ISO 4217 Code MMK User(s) Myanmar Inflation 21. ... ISO 4217 Code PHP User(s) Philippines Inflation 2. ... ISO 4217 Code SGD User(s) Singapore, Brunei Inflation 1% Source The World Factbook, 2006 est. ... ISO 4217 Code THB User(s) Thailand Inflation 4. ... USD redirects here. ... ISO 4217 Code VND User(s) Vietnam Inflation 7. ... ISO 4217 Code BDT User(s) Bangladesh Inflation 7% Source The World Factbook, 2005 est. ... The ngultrum (BTN) is the currency of Bhutan, subdivided into 100 chertrums. ... “INR” redirects here. ... ISO 4217 Code MVR User(s) Maldives Inflation 6% Source The World Factbook, 2005 est. ... ISO 4217 Code NPR User(s) Nepal Inflation 7. ... PKR redirects here. ... ISO 4217 Code LKR User(s) Sri Lanka Inflation rate 11. ... ISO 4217 Code AMD User(s) Armenia and the self proclaimed Nagorno Karabakh Republic Inflation -0. ... ISO 4217 Code AZN User(s) Azerbaijan except Nagorno-Karabakh Inflation 11. ... ISO 4217 Code BHD User(s) Bahrain Inflation 2. ... For other uses, see Euro (disambiguation). ... Georgian 1 lari Georgian 2 lari Georgian 5 lari Georgian 10 lari Georgian 50 lari Georgian 100 lari The lari (Georgian: ლარი ; ISO 4217:GEL) is the national currency of Georgia. ... ISO 4217 Code IRR User(s) Iran Inflation 15. ... ISO 4217 Code IQD User(s) Iraq Inflation rate 33% Source The World Factbook, 2005 est. ... ISO 4217 Code ILS User(s) Israel, The West Bank, Gaza Strip Inflation -0. ... The Jordanian dinar (ISO 4217 code JOD) is the official currency of the Hashemite Kingdom of Jordan and the first official one in the State of Palestine. ... ISO 4217 Code KWD User(s) Kuwait Inflation 3. ... The Lebanese pound (Arabic lira, French livre, ISO 4217: LBP) is the currency unit of Lebanon. ... ISO 4217 Code OMR User(s) Oman Inflation 1. ... ISO 4217 Code QAR User(s) Qatar Inflation 7. ... ISO 4217 Code SAR User(s) Saudi Arabia Inflation 1. ... ISO 4217 Code SYP User(s) Syria Subunit 1/100 piastre Symbol S£ [] Coins 1, 2, 5, 10, 25 pounds Banknotes 1, 5, 10, 25, 50, 100, 200, 500, 1000 pounds Central bank Central Bank of Syria Website www. ... TRY banknotes and coins The Turkish new lira is the current currency of Turkey and of the de facto state Turkish Republic of Northern Cyprus. ... ISO 4217 Code AED User(s) United Arab Emirates Inflation 4. ... 1000 Yemeni Rial The rial or riyal is the currency of Yemen. ...

  Results from FactBites:
 
Forex Blog: Japanese Yen (11990 words)
The Japanese Yen had a strong opportunity to reverse its long-term slide against the USD this week after the release of economic data, which indicated the Japanese economy is now expanding at an annualized rate of 4.8%.
While the news was positive for the yen at the margin, it would be wise for investors not to overreact, given the global context in which central banks have been consistently reducing the share of yen in their foreign exchange holdings.
The implications vis-à-vis the Japanese Yen are ambiguous.
Japanese yen - Wikipedia, the free encyclopedia (2059 words)
The yen (Japanese: 円) is the currency of Japan.
The yen is a cognate of the Chinese yuan and the Korean won, and was originally written in the same way in Kanji as the Chinese yuan (圓 pinyin: yuán, Wade-Giles: yuen).
The yen was introduced by the Meiji government in 1870 as a system resembling those in Europe.
  More results at FactBites »

 
 

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