Japanese yen 日本円 (Japanese)
¥10000 engraved by Edoardo Chiossone Circulated coins in all 6 denominations
ISO 4217 Code	JPY
User(s)	Japan
Inflation	0. Edoardo Chiossone (born in Arenzano 1833 died April 11, 1898 in Kōjimachi) was an Italian O-yatoi gaikokujin. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established For a topic outline on this subject see List of basic Japan topics. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 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. A currency sign is a graphic symbol often used as a shorthand for a Currency 's name ¥￥ Plural is a Grammatical number, typically referring to more than one of the Referent in the real world
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 円 (en, 円^?)) is the currency of Japan. The is one denomination of Japanese Yen. The current design was first minted in 1959 using Japanese characters known as the "new script" and were also main - title 500 yen coin keywords numismatics coin review - status not-reviewed The banknotes of the Japanese yen are part of the physical form of Japan's currency A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states is the Central bank of Japan. History Like most modern Japanese institutions the Bank of Japan was born after the Meiji Restoration. A printer is a company that provides commercial Printing services often also offering Typesetting and Book-binding services A mint is an industrial facility which manufactures Coins for Currency. is an Incorporated Administrative Agency of the Japanese government is a language spoken by over 130 million people in Japan and in Japanese emigrant communities A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is For a topic outline on this subject see List of basic Japan topics. It is the third most-traded currency in the foreign exchange market after the United States dollar and the euro. The foreign exchange ( currency or forex or FX) market refers to the market for currencies. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Please update other articles as well to avoid contradiction within Wikipedia e It is also widely used as a reserve currency after the U. 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 S. dollar, the euro and the pound sterling. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency The ISO 4217 codes for the yen are JPY and 392. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established The romanised symbol is ¥ while in Japanese it is also written with the kanji 円. In Linguistics, romanization (or latinization, also spelled romanisation or latinisation) is the representation of a Word or are the Chinese characters that are used in the modern Japanese logographic writing system along with Hiragana (ひらがな 平仮名 Katakana 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 United States of America —commonly referred to as the

Contents 1 Etymology 2 History 2.1 Introduction 2.2 Fixed value of the yen to the US dollar 2.3 Undervalued yen 2.4 Yen and major currencies float 2.5 Japanese government intervention in the currency market 2.6 Yen in the early 1980s 2.7 Effect of the Plaza Accord 2.8 Post-bubble years 3 Coins 4 Banknotes 5 Determinants of value 6 International reserve currency 7 Historical exchange rate 8 See also 9 References 10 External links 10.1 German

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. is a language spoken by over 130 million people in Japan and in Japanese emigrant communities English is a West Germanic language originating in England and is the First language for most people in the United Kingdom, the United States Portuguese ( or língua portuguesa) is a Romance language that originated in what is now Galicia (Spain and northern Portugal. Transliteration is the practice of Transcribing a Word or text written in one Writing system into another writing system or system of rules for such practice 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). In Linguistics, romanization (or latinization, also spelled romanisation or latinisation) is the representation of a Word or Kana is a general term for the syllabic Japanese scripts Hiragana (ひらがな and Katakana (カタカナ as well as the old system ゑ, in Hiragana, or ヱ in Katakana, is an obsolete Japanese Kana, each of which represent one mora. is a Japanese Beer brewer. Their world headquarters is located in Ebisu, Shibuya Tokyo.  was the founder and first Shogun  of the Tokugawa shogunate literally bay - Door, " Estuary " edo once also spelled Yedo or Yeddo, is the The romanization of yen has become a permanent feature.

History

Introduction

The yen was introduced by the Meiji government in 1872 as a system resembling those in Europe. The, or Meiji era, denotes the 45-year reign of the Meiji Emperor, running in the Gregorian calendar, from 23 October 1868 to 30 July The yen replaced the complex monetary system of the Edo period, based on the mon. The, also referred to as the Tokugawa period (徳川時代 Tokugawa-jidai) is a division of Japanese history running from 1603 to 1868 The was a currency of Japan from Muromachi period until 1870 It resembled and was derived from the Chinese wen (cf The New Currency Act of 1871 stipulated the adoption of the decimal accounting system of yen (1, 圓), sen (¹⁄₁₀₀, 錢), and rin (¹⁄₁₀₀₀, 厘), with the coins being round and cast as in the West. The yen was legally defined as 0. 78 troy ounces (24. Troy weight is a system of units of Mass customarily used for Precious metals Black powder, and Gemstones Named after Troyes 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 gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold (The sen and the rin were eventually taken out of circulation at the end of 1953. ^[3])

Fixed value of the yen to the US dollar

The yen lost most of its value during and after World War II. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including 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. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of Exchange rate regime wherein a Currency 's value is matched to the value of The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states The economy of Japan is the second largest economy in the world after the United States, at around US$4 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. In Finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold For other uses of this word see Tariff (disambiguation. A tariff is a tax imposed on goods when they are moved across a political boundary International trade is exchange of Capital, Goods, and Services across International borders or Territories. Floating rate may also refer to a Floating interest rate applied to a Loan or other lending product

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. In Economics, an export is any good or Commodity, Transported from one country to another country in a Legitimate fashion 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. In Economics, the current account is one of the two primary components of the Balance of payments, the other being the Capital account. The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of Exports and imports in an The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of Exports and imports in an 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.

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. The Smithsonian Agreement was a December 1971 agreement that ended the Fixed exchange rates established at the Bretton Woods Conference of 1944 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.

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 1973 oil crisis began on October 17 1973 when the members of Organization of Arab Petroleum Exporting Countries (OAPEC consisting of the Arab members of The increased costs of imported oil caused the yen to depreciate to a range of ¥290 to ¥300 between 1974 and 1976. Petroleum ( L petroleum, from Greek πετρέλαιον, lit 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 1979 (or second) oil crisis in the United States occurred in the wake of the Iranian Revolution.

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. Interest is a fee paid on borrowed capital Assets lent include Money, Shares, Consumer goods through Hire purchase, major assets Deregulation, a term which gained widespread currency in the period 1970-2000 can be seen as a process by which governments remove reduce or simplify Restrictions on Business 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.

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). The Plaza Accord or Plaza Agreement was an agreement signed on September 22, 1985 at the Plaza Hotel in New York City by 5 nations 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.

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. Japanese post-war economic miracle The was an Economic bubble in Japan from 1986 to 1990 in which Real estate and Stock prices greatly inflated 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. is the Central bank of Japan. History Like most modern Japanese institutions the Bank of Japan was born after the Meiji Restoration. Interest is a fee paid on borrowed capital Assets lent include Money, Shares, Consumer goods through Hire purchase, major assets The carry of an Asset is the return obtained from holding it (if positive or the Cost of holding it (if negative ^[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. The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London ^[5] .

Coins

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. Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. 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.

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. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including Clay 5 and 10 sen coins were produced in 1945 but not issued for circulation.

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.

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^?). For the Arena in Debrecen Hungary see Fonix Hall. For the replica temple in Hawaii see Byodo-In Temple. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. 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 among the highest valued coins to be used regularly in the world (with values in the neighbourhood of US$4. 86, €3. 12, and £2. 46). The United States' largest-valued commonly-used coin (25¢) is worth around 26 yen; the Eurozone's largest (€2) is worth ¥321, and the United Kingdom's largest (£2) is worth ¥406 (as of April 2008). Euro Enlargement of the The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located The Swiss 5-franc coin is currently (as of April 2008) worth about ¥505, putting it just above the Japanese ¥500 coin. 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 1 yen coin, being made out of 100% aluminum, floats if placed in water.

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. The Japanese era calendar scheme is a common Calendar scheme used in Japan, which identifies a year by the combination of the and the year number within the era For example, a coin minted in 2006 would bear the date Heisei 18 (the 18th year of Emperor Akihito's reign). is the current era name in Japan. The Heisei era started on January 8, 1989, just one day after the death of the reigning Emperor Hirohito is the current of Japan, and the 125th Emperor according to Japan's traditional order of succession. ^[8]

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. WikipediaNaming The is one denomination of Japanese Yen. The current design was first minted in 1959 using Japanese characters known as the "new script" and were also 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. Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Zinc (ˈzɪŋk from Zink is a Metallic Chemical element with the symbol Zn and Atomic number 30 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. Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Zinc (ˈzɪŋk from Zink is a Metallic Chemical element with the symbol Zn and Atomic number 30 Tin is a Chemical element with the symbol Sn (stannum and Atomic number 50 For the Arena in Debrecen Hungary see Fonix Hall. For the replica temple in Hawaii see Byodo-In Temple. 7 mm	4 g	Cupronickel 75% copper 25% nickel	Milled	Chrysanthemum, state title, value	Value, year of minting	1967
	¥100	22. Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Nickel (ˈnɪkəl is a metallic Chemical element with the symbol Ni and Atomic number 28 Chrysanthemums, often called 'mums' are a genus ( Chrysanthemum) of about 30 species of perennial Flowering plants in the family Asteraceae 6 mm	1. 7 mm	4. 8 g			Cherry blossoms, state title, value		1967
	¥500	26. main - title 500 yen coin keywords numismatics coin review - status not-reviewed 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. Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Nickel (ˈnɪkəl is a metallic Chemical element with the symbol Ni and Atomic number 28 Paulownia is a genus of between 6–17 species (depending on taxonomic authority of Plants in the monogeneric family Paulowniaceae, related to and Bamboo is a group of Woody perennial Evergreen Plants in the True grass family Poaceae, subfamily The Mandarin orange or mandarin (or mandarine) is a small Citrus tree ( Citrus reticulata) with fruit resembling the orange. main - title 500 yen coin keywords numismatics coin review - status not-reviewed Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Zinc (ˈzɪŋk from Zink is a Metallic Chemical element with the symbol Zn and Atomic number 30 Bamboo is a group of Woody perennial Evergreen Plants in the True grass family Poaceae, subfamily The Mandarin orange or mandarin (or mandarine) is a small Citrus tree ( Citrus reticulata) with fruit resembling the orange. 5 pixels per millimeter, a Wikipedia standard for world coins. For table standards, see the coin specification table.

Banknotes

Main article: Banknotes of the Japanese yen

The issuance of the yen banknotes began in 1872, two years after the currency was introduced. The banknotes of the Japanese yen are part of the physical form of Japan's currency Throughout its history, the denominations have ranged from 10 sen to 10,000 yen.

Before and during World War II, various bodies issued banknotes in yen, such as the Ministry of Finance and the Imperial Japanese National Bank. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including The Allied forces also issued some notes shortly after the war. Since then, the Bank of Japan has been the exclusive note issuing authority. is the Central bank of Japan. History Like most modern Japanese institutions the Bank of Japan was born after the Meiji Restoration. The bank has issued five series after World War II. Series E, the current series, consists of ¥1000, ¥2000, ¥5000, and ¥10,000.

Determinants of value

The relative value of the yen is determined in foreign exchange markets by the economic forces of supply and demand. The foreign exchange ( currency or forex or FX) market refers to the market for currencies. Economics is the social science that studies the production distribution, and consumption of goods and services. Supply and demand is an Economic model describing effects on price and quantity in a Market. 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. Sao Paulo Stock Exchangejpg|thumb| Virtual market arena where buyer and seller are not present and trade via intemediates and electronical information A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates In Business and Accounting, assets are everything owned by a person or company (all tangible and intangible property that can be converted into cash. 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). Supply and demand is an Economic model describing effects on price and quantity in a Market. Investment or investing is a term with several closely-related meanings in Business management, Finance and Economics, related to saving

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. 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 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 The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 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. Please update other articles as well to avoid contradiction within Wikipedia e 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. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency 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. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. 4%	1. 8%	1. 4%	1. 6%
Swiss franc	0. The franc ( German: Franken, French and Romansh: franc, Italian: franco; code: CHF 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. A list of all Currencies, current and historic The local name of the currency is used in this list with the adjectival form of the country or region 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

Historical exchange rate

The table below shows the number of yen per U.S. dollar. The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic The European Central Bank (ECB is one of the world's most important Central banks responsible for Monetary policy covering the 15 member countries of the The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been (monthly average)

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

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See also

• Japan Mint
• Japanese military yen
• Economy of Japan
• Capital flows in Japan
• Monetary and fiscal policy of Japan
• Balance of payments accounts of Japan (1960-90)

References

This article contains material from the Library of Congress Country Studies, which are United States government publications in the public domain. The Country Studies are works published by the Federal Research Division of the Library of Congress ( USA) freely available for use by researchers The federal government of the United States is the central United States Governmental body established by the United States Constitution. The public domain is a range of abstract materials &ndash commonly referred to as Intellectual property &ndash which are not owned or controlled by anyone

External links

• Don's World Coin Gallery - Japan
• Ron Wise's World Paper Money - Japan ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - Japan
• Global Financial Data data series - Japan Yen
• Global Financial Data currency histories table ( Microsoft Excel format)

• Japanese currency FAQ in Currency Museum, Bank of Japan
• Study of the inflation in Japan and its relationship to interest rates - thereby affecting Yen
• Money in Japan. A guide while traveling.

German

• Chart: US-Dollar in Yen
• Chart: 100 Yen in Euro

Preceded by: Japanese mon

Currency of Japan 1870 –

Succeeded by: Current

The was a currency of Japan from Muromachi period until 1870 It resembled and was derived from the Chinese wen (cf For a topic outline on this subject see List of basic Japan topics.

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