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About the Japanese Yen (JPY)
💰 A Brief History
The Japanese Yen (JPY) was introduced in 1871 as part of the Meiji government’s modernization efforts, replacing the complex Tokugawa coinage system.
“Yen” means “circle” or “round object” — a nod to the shape of traditional coins.
It became a symbol of Japan’s emergence as a modern economic power, and after World War II, the yen was restructured to stabilize the nation’s post-war economy.
🏦 The Role of the Bank of Japan
The Bank of Japan (BoJ) is the country’s central bank, responsible for issuing the yen, regulating monetary policy, and maintaining price stability.
The BoJ is known for its ultra-low interest rates and is a key player in global currency markets.
The yen is often used as a “safe haven” currency during times of global financial uncertainty due to Japan’s economic stability and large foreign reserves.
💵 Japanese Banknotes & Coins
Yen banknotes include denominations of ¥1,000, ¥2,000, ¥5,000, and ¥10,000, while coins range from ¥1 to ¥500.
Notes typically feature historic figures such as Fukuzawa Yukichi and Ichiyo Higuchi, along with Japanese art and architecture.
Fun fact: The ¥2,000 note is rare and was issued in 2000 to commemorate the Okinawa Summit and the Millennium.
🌍 JPY in the Global Market
The Japanese Yen is the third most traded currency in the world, after the USD and EUR. It’s also one of the largest reserve currencies held by central banks globally.
Due to Japan’s strong economy, high-tech exports, and conservative fiscal policy, the yen plays a major role in international finance, especially in carry trading strategies.
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