The Japanese Yen (円, 圓, ¥) is the official currency of Japan.
After obtaining minting machinery from Hong Kong, the Japanese Meiji government decided to adopt a silver dollar coinage under the name of "yen" on May 10, 1871. The yen replaced Tokugawa coinage, a complex monetary system of the Edo period based on the Mon.
Yen as currency is made up of coins (¥1, ¥5, ¥10, ¥50, ¥100, ¥500) and banknotes (¥1000, ¥2000, ¥5000, ¥10,000).
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Trivia[edit | edit source]
- The 1 yen coin is made out of 100% aluminum and can float on water if placed correctly.
- The Yen is the third most traded currency in the foreign exchange market after the United States Dollar and the Euro.
- Many Vending Machines in Japan no longer accept ￥500 coins due to counterfeiting issues. The exact reason is due to the 500 yen coin having a similar weight and the same diameter and metal alloy as the 500 South Korean won coin.