To date, the Japanese yen is considered an active trading instrument for the global currency market. In addition, the monetary unit of Japan is included in the group of major reserve currencies, along with the euro and US dollars.
Japanese Yen: History of Emergence and Development
from 1600 to 1868 in Japan there was a very complex monetary system called Edo. It included a variety of banknotes - copper, gold and silver coins, as well as banknotes. In addition, the currency of the central government was different from the banknotes of 244 separate principalities existing at that time. In addition, there were also fractional units. But due to technological progress and active economic development, such a system has become impractical.
Meiji restoration in 1871 was marked by significant reforms. Around the same time, the yen appeared. Translated, this word means "circle." At the time of its appearance, 1 Japanese yen was equal to 1.5 g of gold. Interestingly, over the next years, the gold standard often changed depending on the economic situation in the country.
By the way, as the international currency, the yen was approved only on May 11, 1953. It was on this day that the International Monetary Fund approved a decree that equated this currency with 2.5 mg of gold. At the beginning of its existence (approximately from 1949 to 1971), the Japanese currency was tied to the US dollar. In those days, $ 1 costs 360 yen.
But in the following decades, several devaluations occurred at once. Very soon, the yen became a much more valuable and stable unit.
It is no secret that the Japanese economy suffered significantly in 2011 due to the earthquake and the accompanying cataclysms. But, despite all the forecasts of specialists, the yen not only did not fall in price, but, on the contrary, began to rise in price quickly. Naturally, the national bank of the country took the necessary measures - several significant injections were made into the financial system. However, the currency of Japan is still quite expensive.
Japanese Yen: Existing Denominations
Today in free circulation in Japan there are both paper bills and coins. There are banknotes worth one, two, five and ten thousand yen. In addition, metal coins with a value of one, five, ten, fifty, one hundred and five hundred yen are used in everyday life.
Japanese yen: exchange rate to the ruble and other world currencies
Today, one hundred yen costs about $ 0.98. It is important to know the rate of the Japanese currency to another world currency - for a hundred yen you can buy 0.76 euros.
As for the Russian ruble, the national bank offers the following rate — one hundred monetary units in Japan account for about 31 rubles. By the way, for 10 Ukrainian hryvnias you can buy about 100 yen.
Today, financial systems in Japan are considered a very profitable investment among business people. After all, historical data confirm that the yen throughout its existence only grows in value. Therefore, some experts consider deposits in Japanese currency to be the best option.