One of the most developed countries in the modern world today is Japan. The worthy position of the country of the rising sun on the world
the trading arena is not without the involvement of a powerful financial industry, one of the main elements of which is the monetary system of Japan. For many years now, it has been stimulating the economy of the state, helping domestic industry to develop new markets. At the same time, the Japanese currency is a freely convertible currency and the most important means of exchanging the values of the international economic system. Of course, after the American dollar and the euro.
Yen history
Japan Currency It has a proud eastern name - the yen. It indicates the roundness of the currency. What is connected with the reforms of 1871 carried out by the government of the state, the result of which was the minting of round coins. Prior to this period, the country's monetary units were either oval or rectangular in shape and issued by various feudal centers. The fate of the Japanese currency in a relatively short period of its existence, It was quite complex and had a significant number of failures related to foreign policy factors. However, the hardworking population of the country of the rising sun each time brought the national currency to the leading trading positions of the international economic system. Between 1958 and 1972, the currency of Japan did not carry out the functions of the system of exchange of values both within the state and for
its limits. For 14 years in a row, the American dollar took its place. During this time, the country's leadership formed a clear financial strategy and carefully prepared a springboard for the introduction of a national system of exchange of values into the world economy, which soon became the third largest
reserve currency of the modern world. The yen is denoted by the symbol ¥ like the
Chinese yuan. Also, the
Japanese national
currency has the code of the international standardization organization ISO 4217 and the bank code JPY.
Japanese currency - exchange rate and face value
Today, the country of the rising sun uses national currency units of a banknote in denominations of 1,000, 2,000, 5,000, 10,000 yen, and coin in denominations of 1, 5, 10, 50, 100 and 500 yen. Although the Japanese currency and
It is a fairly significant subject of the international Forex market, but the purchasing power of one unit is very low. This is due to the fact that the load of one of the main elements of a set of measures to protect domestic production is the Japanese currency. The course to the ruble
of this currency in connection with the prevailing strategy for the development of entrepreneurship in the country of the rising sun is also low and amounts to 33 kopecks for one yen. This specificity gives Japanese manufacturers favorable price advantages in the market of goods and services. In order to maintain an artificially low yen, financial institutions of Japan constantly conduct intervention
monetary policies that are quite successful for the domestic economy and quite aggressive for competitors of Japanese products
.