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The yen ( Japanese: 円, symbol: ¥; code: JPY) is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. [2] . It is also widely used as a third reserve currency after the US dollar and the euro.
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In 1946, following the Second World War, Japan removed the old currency (旧円券) and introduced the "New Yen" (新円券). Meanwhile, American occupation forces used a parallel system, called B yen, from 1945 to 1958. Since then, together with the economic expansion of Japan, the yen has become one of the major currencies of the world.
May 6, 2024 · yen, monetary unit of Japan. The yen was divided into 100 sen and into 1,000 rin until 1954, when these tiny denominations were removed from circulation.
Aug 25, 2022 · Samantha Silberstein. Fact checked by Melody Kazel. What Is JPY (Japanese Yen)? JPY is the abbreviation for the Japanese yen, the currency of Japan. The yen is often represented with a...
Aug 24, 2014 · The yen was introduced in 1872 as part of the modernization of the Japanese currency system. The value of the yen was originally linked directly to that of gold. After extensive devaluation resulting from World War II, the Bretton Woods system linked the yen to the US dollar.
