Yen

The Yen is the official currency of Japan. It is denoted by the symbol “¥” and is represented by the international currency code JPY. The Yen is issued and regulated by the Bank of Japan, which is the country’s central bank.

The Yen is further subdivided into smaller units called “sen” or “rin,” although in modern usage, these subunits are not commonly used in daily transactions. One Yen is equivalent to 100 sen.

The Yen is one of the most traded currencies in the foreign exchange market and is widely used in international trade and finance. It is considered a major reserve currency and is heavily traded in the global foreign exchange market.

The value of the Yen fluctuates in the foreign exchange market and is influenced by various factors, including Japan’s economic performance, interest rates, inflation, and geopolitical events. Due to Japan’s significant role in global trade and finance, the value of the Yen can also be impacted by international economic developments.

The Yen’s liquidity in the foreign exchange market is generally high, and it is actively traded against other major currencies such as the US Dollar, Euro, and British Pound.

The Yen’s status as a major currency and its role in global finance make it an important currency for international businesses, investors, and traders. Its value and exchange rates are closely monitored by financial institutions, governments, and market participants around the world.

Overall, the Yen’s significance in the global economy, its stability, and its widespread use in international transactions make it an essential currency in the world of finance and trade.