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What is JPY?

Japanese yen - JPY.

What is JPY? It's Japanese yen, ¥.

Japanese currency, 10,000 yen.

Fukuzawa Yukichi (1835-1901) on the highest valued banknote of the Japanese currency.

JPY as Japanese yen

JPY is the currency code for the Japanese yen. There are four kinds of bills: 10,000 yen, 5,000 yen, 2,000 yen, 1,000 yen, and six kinds of coins: 500 yen, 100 yen, 50 yen, 10 yen, 5 yen, 1 yen. All of the bills and coins are different sizes. Symbolized with the ¥, the Japanese yen is the third most widely held international reserve currency and the fourth most traded currency in open foreign currency markets. Underlying monetary policy and issuance of the yen is managed by the Japanese central bank, the Bank of Japan - BOJ. The Bank of Japan was established in 1882 using a Belgian banking model and was given monopoly powers over controlling monetary policy and the circulation of the JPY. 1 Yen is subdivided into 10 dimes, 100 cents or 1000 mills.

Currency fact sheet

Japanese currency fact sheet.
Name Japanese yen
ISO 4217 code JPY
Sign ¥
Symbol ¥ 円 圓
Coins ¥1, ¥5, ¥10, ¥50, ¥100, ¥500
Banknotes ¥1000, ¥2000, ¥5000, ¥10,000
Central bank Bank of Japan

More about...

More about the Japanese yen.

The origin of Japanese currency can be traced to the Wu Zhu bronze coin of China, which was introduced under the Han Dynasty around 221 BC. Until the 8th Century the Japanese imported such coins from China. However, in 708 the Japanese government began minting their own silver and copper coins called the Wado Kaichin or Wado Kaiho, which imitated the Chinese Kai Yuan Tong Bao coin's size, shape, and weight.

In Japan, around 1600, the wages for ordinary people were paid mostly in copper and silver coins. Wages for the Samurai class, which accounted for 10% of the total population, were paid in amounts of rice. A Japanese currency unit 'koku' was a measurement of sufficient rice to feed a single man for a year.

The Meiji Government established Yen in 1871, the first nationally accepted paper money. The New Currency Act developed a monetary system similar to that of European countries, and made a decimal accounting system of Rin, Sen, and Yen. Japan Money.

Today, under the monetary policy and issuance directives of the Bank of Japan the yen, when measured by value, is the world's third largest reserve currency and fourth most traded currency in open exchange markets. Yen is the official currency of Japan and has shown contrarian resilience against world markets initially in the 1980's and more recently in the 2008 world credit crisis as the Bank of Japan retains there command economic policies while refusing to engage in economic stimulus.

Money in Japan.

Nippon Ginko on Japanese money means Bank of Japan.

Currency in Japan - a 500 yen coin.

五百円硬貨 is the largest coin currency denomination in Japan. Photo by 7D-Kenny on Flickr.

Exchange rates - 환율

What is the Japanese yen exchange rate today?

Bank of Japan (BoJ)

Established as far back as 1882, the Bank of Japan serves as the central bank to the world's second largest economy. Bank of Japan governs monetary policy as well as currency issuance, money market operations and data/economic analysis. The main Monetary Policy Board tends to work toward economic stability, constantly exchanging views with the reigning administration, while simultaneously working toward its own independence and transparency. Meeting 12-14 times a year, the governor of the Bank of Japan leads a team of nine policy members, including two appointed deputy governors. Japanese currency interest rate information

Converters and rates

Easy to use currency converters and fresh exchange rates every weekday.

What is JPY? A currency that is a medium of exchange in countries that use Japanese yen. Google for more information: 환율 euro yen.

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