What is the money in japan name. History of Japanese money
The national Japanese currency is one of the most popular in the world and today it occupies an honorable third place, second only to the ubiquitous dollar and euro currency. Although its exchange rate is quite unstable and is often artificially regulated by the issuing country, this does not prevent it from being appreciated by many Central Banks.
Japanese currency - what is it called and why
"円" - this is the "respectful" hieroglyph for the yen, the modern currency of the "Land of the Rising Sun". In addition, another designation is accepted on the international currency market - JPY, as well as a digital code - 392.
Although the yen is a Japanese currency, its name comes from China. And in the original performance it sounded like "yuan". One of the currencies of China during the Qing empire was a small bar of silver, which was quite inconvenient. But already in the 18th century, Mexican and Spanish coins began to appear on the territory of the country, which were called "western" and "silver" yuan. Some time later, the production of local silver coins was established in Hong Kong, which the enterprising Chinese immediately dubbed the "Hong Kong" yuan. It was these coins that appeared on the territory of Japan, where they received the name "en". And in 1830, the Japanese established an independent issue of coins, which, in terms of weight and composition, repeated the Chinese (Hong Kong) ones. It is believed that the Japanese currency received its new name from the shape of the coin, "en" - means "round, circle". The fact is that earlier Japanese money had a rather diverse shape - oval, oblong, rectangular, or even not quite definite (for silver and gold bars).
Jena - appearance story
Until about the middle of the 19th century, a rather complex system of monetary settlements existed in Japan. The fact is that, in addition to national banknotes, each of the more than two hundred and forty provinces of the country had its own currency, which caused great confusion in the calculations. The new Japanese currency, the yen, has put an end to all these discrepancies. In 1869, the first coin was minted, and just two years later, a ban on various "clan" banknotes was announced, with their gradual replacement and withdrawal from circulation. Thus, by 1879, the yen had become the only and full-fledged currency in Japan. At the same time, a fractional division was adopted: 1 yen = 100 sen = 1000 rin. Later, in 1954, this division was canceled.
In different periods, the Japanese yen was pegged to the gold equivalent, the British pound sterling, the American dollar - everything depended on the political and economic course of the country. Only almost a hundred years after its appearance, in May 1953, the International Bank set the parity rate of the yen at 2.6853 milligrams of pure gold, which allowed it to become an internationally recognized currency.
Banknotes
Japanese currency in paper version has only four types of banknotes in denominations of one, two, five and ten thousand yen have been reissued many times. The newest paper banknotes in Japan were issued in 2004.
The one thousand yen banknote has a portrait of Hideyo Noguchi, a Japanese microbiologist, on the title side, while the reverse side is decorated with a classic landscape - Mount Fuji, Lake Motosu and cherry blossoms; the bill is made in blue tones.
The two thousandth banknote (by the way, symbolically issued in 2000) is green. The obverse depicts the gate of the city of Naha, while the reverse side features an illustration for the novel "The Tale of Genji" by Murasaki Shikibu.
The five thousand yen banknote (sample 2004) is made in purple tones. On the front side of the bill there is a portrait of Ichiyo Higuchi, a famous Japanese writer, author of stories and stories about the life of ordinary Japanese people. The reverse side is decorated with the painting "Kakitsubata-tsu" depicting irises by Ogata Korin.
On the obverse of the 10,000 yen banknote there is a portrait of the Japanese writer, philosopher and translator Fukuzawa Yukichi. On the back of the bill there is a statue of a phoenix from the Buddhist temple Byodo-in.
Coins
Slightly more varied is the Japanese currency, represented in the form of coins:
- 1 yen- an aluminum coin, issued in 1955; the obverse is decorated with the image of a young tree and the name of the issuing country; on the reverse - the year of manufacture and face value.
- 5 yen- cast from a copper-zinc alloy, has a face value and rice ears on the obverse, and the name of the country and the year of issue - on the back; a distinctive feature of the coin of this denomination is the presence of a round hole in the center of the coin, issued in 1949.
- 10 yen- made of bronze, on the reverse of the coin a laurel wreath is minted, the year of issue and the denomination, and the obverse is decorated with the image of the Phoenix Hall from the Buddhist temple of Bedo-in and the name of the issuing country; coins of this denomination were issued in circulation twice - the feature of the manufacture of 1951 was the smooth side of the coin, while the ten yen of 1959 has a ribbed edge.
- 50 yen- cupronickel coin with a hole in the center, put into circulation in 1967; the obverse has a denomination, the name of the country, as well as an image of a chrysanthemum; on the reverse there is also a denomination and a year of manufacture.
- 100 yen- also made of cupronickel in 1967, however, instead of chrysanthemum, the obverse is decorated with an image of sakura.
- 500 yen- were issued twice, in 1982 and 2000; earlier coins have a smooth edge with the inscription "NIPPON 500", and coins of 2000 have a side part with diagonal notches; on the obverse in both versions there is the denomination, the name of the issuer country and the paulownia tree, while the reverse contains the year of manufacture, denomination, images of bamboo and mandarin.
In addition, there are commemorative coins in denominations of 500 and 1,000 yen. "Five Hundreds" are made of bimetallic alloy and are dedicated to 47 prefectures of Japan - they all have the same obverse and original turnover. The thousand-yen coins are made of silver and are dedicated to the Olympic Games.
Degrees of protection
Despite the fact that mainly banknotes and coins of a newer design are in circulation, all Japanese banknotes issued since 1885 are legal and accepted for payment.
Like any currency, the Japanese currency has several degrees of protection: microtext, embossed elements, various images with text that changes depending on the angle of view, hidden images, watermarks placed in an oval window and corresponding to the main image. On the banknotes of the new design, the newest sign of security is used - the constellation Eurion.
Do I need to buy yen
Well, here's what the Japanese currency looks like, what it is called and where it came from, we found out. Now let's talk about how reliable it is and whether it is worth trusting it with your savings. If you plan to place your capital profitably in order to generate income, then, of course, it is much wiser to open a deposit in rubles, dollars or euros, because banks offer rather low interest rates on deposits in yen. However, the Japanese currency is unusually stable, which is closely monitored by the country's leadership. In the entire history of the existence of the yen, it almost never fell, so if your goal is not growth, but the preservation of funds, then a deposit in yen is an excellent solution.
Exchange rate to world currencies
The Land of the Rising Sun uses a free floating exchange rate. Today the indicative rate of the Japanese currency is:
- 1 RUB = 2.3724 JPY
- 1 EUR = 135.4485 JPY
- 1 USD = 124.1650 JPY
- 1 CHF = 132.0687 JPY
- 1 GBP = 189.9042 JPY
- 1 UAH = 5.9 JPY
- 1 BYR = 0.0084 JPY
- 1 KZT = 0.67 JPY
The yen (円 en?) Is the currency of Japan, one of the main reserve currencies in the world after the US dollar and the euro. International code: JPY. The Latin symbol is ¥; in Japan, the hieroglyph 円 is used on price tags.
Now in free circulation there are coins in denominations:
1 yen,
5 yen,
10 yen,
50 yen,
100 yen,
500 yen
and banknotes in denominations:
1000 yen,
2000 yen,
5,000 yen,
10,000 yen.
History
The yen was introduced in 1871, shortly after the Meiji Restoration, as a replacement for the complex monetary system of the Edo period, within which gold, silver, copper and paper currency existed in parallel, with both the central government and 244 separate princely estates (see oban , koban, ryo). Fractional units were also introduced: sen (Japanese 銭) = 1/100 yen, rin (Japanese 厘) = 1/1000 yen. Sen and Rin were withdrawn from circulation in 1954, but sen is still used in the financial world today. The new currency had a gold standard: 1 yen = 1.5 grams of gold. Subsequently, Japan has repeatedly canceled and reintroduced the gold standard, depending on the economic situation.
Its new name - "yen" - the Japanese currency received from the form "en" (in Japanese means "round"), since the previous coins had an oval, rectangular, or even very indefinite shape of a gold or silver bar. Jena also has an old, "respectful" hieroglyphic image.
The yen received the status of an internationally recognized currency on May 11, 1953, when the International Monetary Fund approved its parity of 2.5 milligrams of gold. From 1949 to 1971, the yen was pegged to the dollar at 360 yen per unit of US currency. In a series of successive revaluations against the US dollar and other major foreign currencies, the yen has grown significantly.
In 2000, in commemoration of the 8th Economic Summit in Okinawa and the new millennium, the E series was introduced. In this series, there were banknotes of the same denomination of 2000 yen (for the first time in the history of money circulation in Japan). For the first time, the constellation Eurion was used as a security feature on these banknotes. In addition to the 2,000 yen denomination, a new design was introduced in 2004 in denominations of 10,000, 5,000 and 1,000 yen (series F), replacing similar banknotes in the D series.They are made using the most modern technologies tested on the E series.
Old issues |
2004 r. |
Coins
Coins were introduced in 1870. There were silver 5, 10, 20 and 50 sen, as well as 1 yen, and gold 2, 5, 10 and 20 yen. The gold 1 yen was introduced in 1871, followed by the copper 1 rin, ½, 1 and 2 sen in 1873.
The 5 sen copper-nickel coin was introduced in 1889. In 1897, the silver 1 yen was withdrawn from circulation, and the sizes of the 5, 10 and 20 yen gold coins were reduced by 50%. In 1920, the copper-nickel 10 sen coins were introduced.
The production of silver coins ceased in 1938, after which, during the Second World War, various base metals were used for the production of 1, 5 and 10 sen. The 5 and 10 sen clay coins were issued in 1945, but did not enter circulation.
After the war, brass 50 sen, 1 and 5 yen were introduced between 1946 and 1948. In 1949, the current 5 yen with a hole was introduced, and in 1951, the bronze 10 yen (still in circulation).
Coins with denominations less than 1 yen expired on December 31, 1953, following the Small Currency and Fractional Payment Rounding Acts ...
In 1955, the current type of 1 yen aluminum and 50 yen nickel coin without a hole were issued. They were replaced in 1967 by the current copper-nickel coins as well as the 50 yen coin with a hole. In 1982, the first 500 yen coins were introduced.
The date is on the reverse of the coin, and the name 日本国, Nihonkoku (Japan) and denomination in kanji are indicated on the obverse, except for 5 yen, where Nihonkoku is written on the reverse.
The 500 yen coins are among the most valuable coins in use in the world (approximately $ 4.86, € 3.12, and £ 2.46). The most valuable of the commonly used American coins (25 ¢) costs approximately 26 yen; Europe's most valuable coin (€ 2) costs 321 yen, while the UK (£ 2) costs 406 yen (April 2008). The Swiss 5 franc coin currently (April 2008) costs about 505 yen, which is slightly more than the Japanese 500 yen coin. It is not surprising that, due to such a high value, the 500 yen coin has become a favorite target of counterfeiters. It was counterfeited in such quantities that in 2000 a new series of coins with protective properties was released. Despite these changes, counterfeiting continues.
On various significant occasions, commemorative coins of various denominations up to 100,000 yen are made of silver and gold. Although they can be used, they are rather collectible items.
Rather than indicating the year of issue, as with all other coins, the coins of Japan indicate the year of the reign of the current emperor. For example, if a coin is issued in 2006, it will carry the date Heisei 18 (18th year of the reign of Emperor Akihito).
Today, many entrepreneurs work with other countries, purchasing goods and selling their products in promising markets. Japan is one such market. In this article we will talk aboutwhat is their history, where to find out the current exchange rate and whether it is worth keeping your savings in Japanese yen.
Introduction
At the moment, the Japanese currency is completely dependent on the euro and the dollar, since almost all of the country's trade turnover is tied to the west. China and Russia account for a minimum of Japanese sales, while the US and EU countries account for almost 80% of the real turnover of goods.
Both coins and bills are valid in Japan
Japan has a soft credit policy, thanks to which the yen rate is considered quite stable, which neutralizes the possible risks of traders and large businessmen. Over the past 10 years, the country has experienced constant deflation, but despite this, it has emerged from several crises with virtually no losses. The fact is that the bankers of this country have relied on investments in technology and science, so the market practically did not suffer. Constantly developing production, development and effective implementation of innovations - that's what kept the country from serious shocks.
The ratio of the yen to the ruble
In recent years, the yen's exchange rate against the ruble has been constantly falling until the Russian ruble has collapsed almost twice. Almost 3 years have passed since then, but the situation has not changed - the ratio of the cross-rate is approximately the same, except for the large crisis jumps. Amplitude fluctuations are small, there are practically no changes in the exchange rate, which allows us to work for a long time with the hope of relative stability (exchange rate changes are associated with the fall of the ruble, and not because of the rise in the price of the yen). Why is this currency so stable? There are several explanations for this:
- Minimum unemployment rate, balanced migration policy.
- Acceptable deposit program for citizens.
- State aid (most of the programs are aimed at increasing the welfare and living standards of the Japanese).
Relationship to the dollar
Before disassembling,in use, consider how they compare to the US dollar. The classic JPY / USD pair is considered the main one - even despite the export of goods to the EU, the euro practically does not affect the yen. It is noteworthy that when the dollar falls, the yen does not necessarily fall - in the Land of the Rising Sun there is a different monetary policy aimed at reducing the money supply. Due to this, there is a constant shortage of domestic currency, which leads to the possibility of an easy correction of the exchange rate for the sake of smoothing the amplitude of fluctuations.
Japanese yen have many zeros
What to take to Japan
The main currency of Japan is the yen, so if possible, you can purchase it before visiting the country. If the exchange rate in exchange offices in Russia is not very profitable, then take dollars - they can be easily exchanged in exchange offices or banks that work from 9 to 15 hours local time. It is pointless to take rubles with you - the course for them will be very unprofitable.
Attention:if you don't want to mess with cash, then take a regular Visa or Mastercard - you can pay with it in most shops, restaurants, hotels and taxis.
But it's still better to have some local money to pay where there are no terminals - in Japan you can still find similar places.
Historical reference
Despite the fact that Japan has been known for over a thousand years, the history of the yen begins only in the middle of the 19th century. In 1869, the first coin was minted, and in 1871 it began its circulation, replacing paper money that was printed by the clans. The monetary reform lasted almost 8 years - in all of Japan, the yen became official only in 1879. In 1927, the country entered a serious crisis, as a result of which banks had to dump a large amount of money into the market. In 1954, fractional numbers, which were still used in everyday life, went out of use, new bills in denominations of 200 yen were introduced. After the war, the exchange rate against the dollar was 1: 360, now it floats around 105 for 1 dollar, so be prepared for the fact that bills will have a large number of zeros. As of 2017-2018, the Japanese currency entered the ten most stable and reliable currencies in the world.
Attention:if you want to buy yen for rubles in Russia, then you will have a double conversion - first, rubles will be converted into dollars, and then dollars - into yens.
Therefore, whenever possible, try to exchange dollars for yen already locally - this way the rate will be more profitable. Changing money at the airport is not a good idea, as the rate here is quite low. Better go to a bank or one of the many exchangers that operate in almost all cities of the country. Before sharing, study what do they look like bills and coins so that you do not get fooled (however, Japan has a very low crime rate).
How dynamic is the yen
The yen is a stable, reliable and affordable currency, which is ideal for saving personal funds and for mutual settlements. She won this position by the following actions:
- The country's economy is stable, even with a change in the head of government or emperor, there are no major changes in the course of development.
- Huge volumes of export and foreign currency receipts into the country. The yen is considered a reserve world currency, although its turnover volumes are not very large.
- Floating rate, which depends on the economic condition of the country. Neither the government, nor the emperor, nor the national bank can influence him.
The yen is the reserve world currency
Note that over the past 5 years, the currency has slightly sagged against the dollar and the euro, but these drawdowns are insignificant and are practically not felt against the general background. This is due to the fact that China is crowding Japan in the markets, but still the countries have different production niches - the former rely on innovation, the latter - on mass production. Official the rate of Japanese money to the ruble at the moment is 1 JPY = 0.54 RUB, 1 RUB = 1.85 JPY, and this ratio practically does not change.
Now everyone knows what Japanese money is called - yen, 円 en, which means round. However, the country did not come to a unified currency right away. In the Middle Ages, there were more than one and a half thousand different coins on the archipelago. Moreover, all were made of gold or silver. Of course, this diversity reflected primarily the feudal fragmentation of that period. It could not last long. It was overcome by the establishment of stable autocracy in most of the archipelago.
- Ancient coins
The history of Japanese money dates back to China. The very concept of money was brought to the archipelago from this country. For a while, the Japanese used the Chinese currency. However, they realized that this circumstance badly affects the situation in the state. Therefore, around 700 AD, the first own coins began to appear. They were called: Wado Kaichin. This coin copied the Chinese one in shape and weight. However, it was already its own, Japanese.
It was a curiosity for people in those days to use metal to pay for real values. The government encouraged interest in coins by setting specific rules. For example, land transactions were obliged to be made by means of metallic money. The same rule applied to litigation.
A little later, he put into circulation a copper coin. Its name is Kochosen. Translated, it means: a copper coin of the Imperial Court. The coin was in circulation from 708 to 958. This currency was affected by the shortage of its own deposits of this ore. Gradually, the share of metal in the coin decreased, along with this, its value fell. The situation in the country also influenced the value of the Japanese currency. In Japan, there were continuous feudal wars. The imperial currency in the regions began to be replaced by their own.
For example, by the end of the 15th century, the Koshu kin gold coin was issued in Kai Prefecture. It had a different shape and was cast in a solid piece without a hole, like Chinese ones. Moreover, this currency was issued in both round and rectangular versions. In those days - the Sengoku period - Kai was the main gold mining region. There were many coins at face value. Ryo is the highest order. The next bu at face value was equal to one-fourth of Ryo. Further, in the same ratio, the shu followed, which, in turn, also had a coin of a smaller order. All of them had a multiple of four or two in relation to each other.
- Introduction of unified money
By 1590, power in the archipelago passed into the hands of Toyotomi Hideyoshi. Having taken control of the country, this ruler decided to introduce his own money. He had enough gold and silver. He introduced a unique coin into circulation: the oban. Its weight was 165 grams, dimensions 10 x 17 centimeters, oban was used as a reward, and not for transactions. In fact, this was one of the first examples of the use of money for political purposes.
Oban coin belongs to one of the largest gold coins in the world.
A unified currency was introduced on the islands by the government of the Tokugawa shogunate (Edo period). The system of its currency emission was based on three types of coins: gold (koban), silver and copper. They were used for all types of transactions. However, at first it was necessary to force the population to use new coins.
- First paper money
In the history of the country, there have been cases of using a currency that has nothing to do with precious metals. They date back to around 1600. In the city of Ise (Yamada region), a brisk trade was conducted since the Middle Ages. Yamada Hagaki appeared there. This is not really money, but rather receipts issued as a pledge of payment for a small transaction. The number of such receipts was strictly controlled by two bodies: one consisted of merchants, the other - of Shinto priests (Ise Gegu). The priests of the Ise Gegu shrine were the first to give out prototypes of paper money. Society began to trust them.
An interesting fact is that the issue in Japan before the centralization of leadership appeared in the form of cooperation of merchants (financiers) with the surety of monks. This led to the fact that the Japanese attitude to money was special, in principle, as well as to property in general.
Nobody thought about theft. Today, it is impossible to say so confidently about the absence of theft in the country, but the Japanese obediently take forgotten things to the lost property office, and all the "misunderstandings" are mainly associated with the participation of foreigners. As a rule, even a lost wallet with money will be returned.
Tradition is a very powerful thing. They work with the consciousness of people regardless of external influence. And it is rather difficult to overcome this peculiar "sanctity" of emission, for which saints in the past were vouched.
This factor is also reflected in the attitude towards spending. There is no such cult of consumption in Japan as in the Western world. And in general, saving in Japanese is the art of spending money correctly. And this already says a lot.
The population was brought up in the traditions of asceticism. Considering that the ability to get along with small things is instilled in people from the cradle, they spend reluctantly and only on the most necessary (here, of course, there are two sides of the same coin, but in general, the attitude to money is respectful and careful. Even the Japanese pronounce money with a respectful prefix O (okane ) お 金.)
But their attitude towards unjustly acquired is the same as that of the peoples of the whole world. There is a Japanese proverb that translates: “The ear is ripening - it bows its head; a person gets richer - he lifts his head. " In Japan, as in any country, not everyone is a "good" citizen. A person is susceptible to vices everywhere, even if he is brought up under the harsh pressure of national cultural traditions.
- Yen
The modern currency appeared in the country after the Meiji revolution and the monetary reform in 1871. At the time of the reform, a great variety of money from various clans circulated in the country, the figure is said to be 1694 denominations of monetary units. By 1879, the money exchange was complete.
1901 Japanese silver yen with dragon
An interesting detail: after the defeat in the war, the Japanese yen began to depreciate rapidly, the exchange rate reached 900 yen for 1 dollar, and in Okinawa (the location of American military bases), the yen was generally withdrawn as a monetary unit and in the period from 1958 to 1972 into circulation there were only American dollars.
With the recovery and rapid development of production, the Japanese currency has taken a high place in international financial transactions and for a long time has been one of the most stable currencies in the world. JPY- this is its international code, and in the form of the yen sign it is depicted as follows - ¥.
In the form of coins, Japanese money is issued in the range of 1 to 500 yen (1-5-10-50-100-500)
Also, for significant events, coins with a denomination of 1000 yen are issued, with a limited edition.
100 yen coin
In the early days, the yen was gold and silver. And only at the beginning of the 20th century did the current paper money appear.
Japanese banknotes have denominations of 1000 yen, 2000 (limited edition), 5000 and 10,000 yen. Prominent people of Japan are depicted on the banknotes.
For information: the ratio of currencies is determined by the Central Bank of the countries on a regular basis, on weekdays. To determine the ratio of the yen to the ruble, you need to look to the corresponding page... In March 2017, the ratio is as follows: 1 yen = 0.52 rubles.
The Japanese yen is the legal tender in Japan. The currency has the following international code - JPU. Currently, among all existing currencies, the yen is quite popular and occupies the third place in the rating. The Japanese currency, along with the euro and the US dollar, is one of the world's leading reserve currencies. One yen is divided into 100 sen. The Japanese currency is denoted by the ¥ symbol.
Yen history
The Japanese currency yen in the state language of the country is pronounced in abbreviated form - "en". However, the full name of the currency is “yen”. In Japanese writing, there is a hieroglyph for the national currency - "円". However, this hieroglyph is not native, it is borrowed from the Chinese, from whom it is called fundamentally differently - yuan.
Oddly enough, the history of the Japanese currency goes back to the time of the Qing Empire, which existed in China. It was on the territory of this empire that the main means of payment was silver, which was in the form of ingots. Only a few centuries later, in the 18th century, Mexican and Spanish coins minted from silver began to penetrate into China. They became known as "western yuan" and "silver yuan".
A few years later, in Hong Kong, the British launched their own currency, the Hong Kong dollars, which the Chinese called the Hong Kong yuan. It was they who later came to the territory of the land of the rising sun, where the word “yuan” in the local language began to sound like “en”, which in Japanese meant “round”. Beginning in the early 19th century, the Japanese began to produce their own currency, which was similar in composition and weight to Hong Kong coins.
The Japanese yen coin was first minted in 1869. However, as the main currency of the state, the yen was adopted three years later - in 1871, after the Meiji Restoration. Up to this point, the currency of Japan was the Tokugawa monetary system. In 1871, the Japanese government decided to temporarily stop the exchange of paper banknotes by clans, issued by feudal lords since the end of the 16th century. In 1868, the Ministry of Finance conducted a study, according to which it turned out that in the period from 1603 to 1867 there were about 1694 clan money in circulation. All were produced by 244 clans, 14 magistrates and 9 servants of the shogunate. By the second half of the 19th century, namely by 1879, the process of replacing clan banknotes with banknotes based on the yen was completed.
This was not the only change that took place in the country's monetary system. In addition, fractional units appeared, called "sen" and "rin". Sen was equal to 1/100 yen, and rin - to 1/1000. However, the existence of these fractional units was completed in 1954. Despite this, "sen" is still used in the financial world today.
In 1872, the Meiji government passed a law according to which private banks, along with national banks, were allowed to produce convertible banknotes. It is worth noting that private banks were required to have the status of national ones. Four years later, the law was revised, as a result of which all banknotes issued in this way became non-convertible.
The Japanese yen at the end of 1897 contained 0.750 grams of pure gold. During the First World War, the exchange of banknotes for gold was completed. After that, the state authorities, relying on the economic situation in the country, repeatedly introduced and canceled the gold standard. This continued until 1933, when the official abolition of the gold standard took place.
The financial crisis hit the state in March 1927. The reason for this was the release of a huge amount of money by a Japanese bank in order to alleviate the fears of depositors. However, depositors rushed to banks to collect their money, which resulted in a shortage of banknotes. The country's national bank responded to this by issuing and putting into circulation 200 yen banknotes, the back of which did not have any image.
From 1933 to 1939, the Japanese state was in the sterling bloc, when 1 yen was equal to 14 British pence. After Japan left the sterling block, the yen / dollar rate was 4.2675: 1, which corresponded to the amount of gold that the yen contained - 0.20813.
During World War II, the Japanese yen was the main currency of the bloc. In the post-war period, until 1948, along with the Japanese yen, the occupation yen was also in circulation. Unfortunately, this period is not the most successful for the Japanese currency, since the depreciation of the yen occurred at an enormous speed. So, in August 1945, 1 US dollar could be purchased for only 15 yen, while in 1947, 1 dollar was already 50 yen, and in 1948 - 250 yen. In the calculations for trading operations, multiple rates were used, which sometimes reached 900 yen for 1 US dollar. On April 25, 1949, the parity rate was established, which was 360 yen for 1 US dollar. This course became the basis for the approval in 1953 of the yen parity of 2.46853 milligrams of gold. Thus, the yen was established by the International Monetary Fund as an internationally recognized currency. Until 1971, the yen was pegged to the dollar. However, after the devaluation of the dollar, which happened in the same 1971, the value of the dollar was 308 yen. Two more years later, in February, the freely fluctuating exchange rate of the yen against the dollar was established. This was due to the next devaluation of the dollar. Thus, over the next few years, the "weight" of the Japanese currency has increased significantly. And, if you ask yourself how much the Japanese yen is worth today, in the past few years its value has been 0.0091 USD (or about 100 yen per USD 1).
Yen denominations
Today, the right to issue banknotes and coins belongs exclusively to the National Bank of Japan. The bank issues banknotes in denominations of 1,000 to 10,000 yen. Each banknote on its obverse has an image of a person significant for Japan. Thus, the 1,000 yen banknote contains an image of the bacteriologist Noguchi Hideyo, and the 2,000 yen banknote depicts the writer Murasaki Shikibu. Coins are also issued in different denominations - from 1 to 500 yen.
In 2004, new banknotes appeared in circulation, the denominations of which were 10,000, 5,000 and 1,000 yen. They all have the most advanced protection technologies.