Japanese yen – official currency Japan. Bank code - JPY. 1 yen is equal to 100 sen and 1,000 rin, but in 1954 all coins of less than 1 yen were withdrawn from circulation. Denominations of current banknotes: 10,000, 5,000, 2,000 and 1,000 yen. Coins: 500, 100, 50, 10, 5 and 1 yen. The name of the currency comes from the Japanese word "en", which means "round".

On the front side of Japanese banknotes, writers and educators are depicted: 10,000 yen - a portrait of Fukuzawa Yukichi, 5,000 - Nitobe Inazo, 2,000 - Murasaki Shikubu, and 1,000 - Natsume Soseki.

Coins differ from each other in the material of manufacture and pattern. Made of nickel are 500 yen (with a paulownia flower on the front), 100 yen (sakura), and 50 yen (chrysanthemum). A 10 yen coin, which depicts the Phoenix Hall of Bedoin Monastery, and a 5 yen coin decorated with a rice ear are minted from bronze. 1 yen is made of aluminum and contains a symbolic image of a seedling. On the reverse side of the coins, as a rule, the denomination and year of issue are indicated. 5 and 50 yen have a hole in the center.

In today's form monetary system Japan and the modern yen appeared in 1871. Prior to that, there were gold, silver, copper and paper banknotes, both of the central government and 244 separate princely possessions. At the first issue of a single state currency, 1 yen was equated to 1.5 g of pure gold.

The rejection of the gold standard in Japan occurred gradually: since 1910, the issue of 10 Japanese yen in gold was discontinued, from 1924 - 2 and 5 yen, and from 1932 - 20 yen. In 1933, the Land of the Rising Sun finally abandoned the minting of gold coins, which was due to economic crisis. At the same time, Japan joined the "sterling bloc", pegging its currency to the British pound. The outbreak of war with China led to devaluation. In 1937, the price of the yen fell to 0.29 grams of gold.

Since 1939, Japan has reoriented the course national currency from pound to US dollar. At the same time, the value of the yen fell to 0.20813 g of gold, which corresponded to 4.27 yen per dollar.

Second World War finally destroyed the Japanese financial system. In August 1945, the dollar was already worth 15 Japanese yen, in March 1947 - 50, and in July 1948 - 250. At the same time, the yen was not freely convertible, and different exchange rates were introduced for various transactions. For some commercial transactions, the price reached 900 yen per dollar.

In 1949, the American occupation administration, headed by General Macarur, took over the business, which put things in order in the financial sector and established a single parity rate of 360 yen to the dollar. At the same time, the largest Japanese monopoly companies were fragmented, which served as an impetus for the development of competition and the economy as a whole.

By May 1953, the yen had become an International Monetary Fund-recognised currency with a parity of 2.5 milligrams against gold. In 1964, without the consent of the IMF, the leadership of Japan abandoned foreign exchange restrictions, making the yen freely convertible. Success in economic development led to a series of revaluations of the yen. By the early 1970s, it was already worth 308, in 1978 - 280 yen per dollar, and the period of greatest appreciation of the currency occurred in the mid-1980s.

Japanese stagnation began in 1991 with a series of bankruptcies financial institutions. The Asia-Pacific crisis of 1997-1998 led to the weakening of the yen from 115 to 150 yen per dollar. However, the devaluation stimulated the further development of exports, which again led to an increase in quotations. As early as 1998, a massive withdrawal of investors from the dollar caused the yen to rise rapidly from 136 to 111 within three days.

In 2002, Japan finally emerged from stagnation, and a steady growth trend emerged. Wherein National economy- export-oriented, so the policy of the Bank of Japan is aimed at maintaining a cheap yen. For this, the country introduces minimum interest rates, as well as foreign exchange interventions. In 2007, a number of economists suggested that the yen was 15% undervalued against the dollar and 40% against the euro.

As of late fall 2017, the yen is hovering around 111 per dollar, close to its historically highest price since World War II. One euro can be bought for 131.5 yen, and one Russian ruble- for 1.9 yen.

The Japanese yen ranks third in the world in terms of foreign exchange reserves after the US dollar and the euro. For issuing currency and holding monetary policy Responsible for the Bank of Japan.

The value of the yen is determined primarily high level production in Japan - the country ranks third in the world in terms of gross domestic product after the US and China, as well as a positive trade balance and negative (-0.7% in 2010) inflation. At the same time, the Japanese economy depends on the import of raw materials and energy resources, as well as on the demand for exported goods: electronics, cars, etc.

Quote of the yen Forex market and in exchange offices direct - it indicates how much yen you need to pay for 1 US dollar, that is, it is calculated in the same way as the ruble exchange rate.

The yen (jap. 円 en?) is the monetary unit of Japan, one of the main reserve currencies of the world after the US dollar and the euro. International code: JPY. The Latin symbol is ¥, in Japan the character 円 is used on price tags.

Now in free circulation there are coins in denominations:
1 yen
5 yen
10 yen
50 yen
100 yen
500 yen

and banknotes in denominations:
1000 yen
2000 yen
5000 yen
10,000 yen

Story

The yen was introduced in 1871, shortly after the Meiji Restoration, as a replacement for the complex monetary system of the Edo period, within which there were parallel gold, silver, copper and paper banknotes, both of the central government and 244 separate princely possessions (see oban , koban, ryo). Fractional units were also introduced: sen (銭) = 1/100 yen, rin (厘) = 1/1000 yen. Sen and rin were withdrawn from circulation in 1954, but the concept of "sen" is still used in the financial world. The new currency had a gold standard: 1 yen = 1.5 g of gold. Subsequently, Japan repeatedly canceled and reintroduced the gold standard, depending on the economic situation.

The Japanese currency got its new name - "yen" from the form "en" (in Japanese means "round"), since the old coins had an oval, rectangular, and even a very indefinite shape of a gold or silver bullion. Yen also has an old, "respectful" hieroglyphic image.

The yen received the status of an internationally recognized currency on May 11, 1953, when the International Monetary Fund approved its parity of 2.5 milligrams of gold. From 1949 to 1971, the yen was pegged to the dollar at 360 yen per unit of US currency. During a series of successive revaluations against the US dollar and other major foreign currencies, the "weight" of the yen has increased significantly.

In 2000, to commemorate the 8th Okinawa Economic Summit and the new millennium, the E series was introduced. monetary circulation in Japan). On these banknotes, for the first time, the constellation Evrion was used as a security feature. In addition to the 2,000 yen denomination, new 10,000, 5,000 and 1,000 yen (F series) banknotes were introduced in 2004 to replace similar D series banknotes. They are made using the most modern technologies tested on the E series.

Old releases

2004

coins

Coins were introduced in 1870. There were silver 5, 10, 20 and 50 sen, as well as 1 yen, and gold 2, 5, 10 and 20 yen. Gold 1 yen was introduced in 1871, followed by copper 1 rin, ½, 1 and 2 sen in 1873.

The copper-nickel 5 sen coin was introduced in 1889. In 1897, the silver 1 yen was withdrawn from circulation, and the sizes of the gold 5, 10 and 20 yen coins were reduced by 50%. In 1920 copper-nickel 10 sen coins were introduced.

The production of silver coins ceased in 1938, after which, during the Second World War, various base metals were used to produce 1, 5 and 10 sen. Clay 5 and 10 sen coins were issued in 1945, but did not enter circulation.

After the war, brass 50 sen, 1 and 5 yen were introduced between 1946 and 1948. In 1949, the current type of holed 5 yen was introduced, followed by the bronze 10 yen in 1951 (still in circulation).

Coins, with the advantage of less than 1 yen, lost force on December 31, 1953, after acts on the use of fine currency and the rounding of fractional payments (小額 通貨 整理 及び 支払 の 端数 関する 法律 法律 法律 法律gaku tsūka no seir oyobi shiharaikin no hasūkeisan ni kan suuru hōritsu) .

In 1955, the current design of the aluminum 1 yen and the nickel 50 yen without a hole was issued. They were replaced in 1967 by the current cupro-nickel coins as well as the holed 50 yen coin. In 1982, the first 500 yen coins were introduced.

The date is on the reverse of the coin, and the name 日本国, Nihonkoku (Japan) and the kenji value are on the obverse, except for 5 yen, where Nihonkoku is written on the reverse.

The 500 yen coins are among the most valuable coins in use in the world (approximately $4.86, €3.12, and £2.46). The most valuable commonly used American coin (25¢) is worth approximately 26 yen; Europe's most valuable coin (€2) is worth 321 yen, while the UK's (£2) is worth 406 yen (April 2008). The Swiss 5-franc coin is currently (April 2008) worth about 505 yen, slightly more than the Japanese 500 yen coin. With such a high value, it's no surprise that the 500 yen coin has become a favorite target for counterfeiters. It was counterfeited in such quantities that in 2000 it was released new series coins with protective properties. Despite these changes, forgeries continue.

On various significant occasions, commemorative coins of various denominations up to 100,000 yen are made of silver and gold. While they can be used, they are more of a collector's item.

Instead of indicating the year of issue, as on all other coins, the coins of Japan indicate the year of the reign of the current emperor. For example, if a coin is issued in 2006, it will bear the date Heisei 18 (the 18th year of the reign of Emperor Akihito).

Japanese yen is the official currency of Japan. Bank code - JPY. 1 yen is equal to 100 sen and 1,000 rin, but in 1954 all coins of less than 1 yen were withdrawn from circulation. Denominations of current banknotes: 10,000, 5,000, 2,000 and 1,000 yen. Coins: 500, 100, 50, 10, 5 and 1 yen. The name of the currency comes from the Japanese word "en", which means "round".

On the front side of Japanese banknotes, writers and educators are depicted: 10,000 yen - a portrait of Fukuzawa Yukichi, 5,000 - Nitobe Inazo, 2,000 - Murasaki Shikubu, and 1,000 - Natsume Soseki.

Coins differ from each other in the material of manufacture and pattern. Made of nickel are 500 yen (with a paulownia flower on the front), 100 yen (sakura), and 50 yen (chrysanthemum). A 10 yen coin, which depicts the Phoenix Hall of Bedoin Monastery, and a 5 yen coin decorated with a rice ear are minted from bronze. 1 yen is made of aluminum and contains a symbolic image of a seedling. On the reverse side of the coins, as a rule, the denomination and year of issue are indicated. 5 and 50 yen have a hole in the center.

In its current form, the monetary system of Japan and the modern yen appeared in 1871. Prior to that, there were gold, silver, copper and paper banknotes, both of the central government and 244 separate princely possessions. At the first issue of a single state currency, 1 yen was equated to 1.5 g of pure gold.

The rejection of the gold standard in Japan occurred gradually: since 1910, the issue of 10 Japanese yen in gold was discontinued, from 1924 - 2 and 5 yen, and from 1932 - 20 yen. In 1933, the Land of the Rising Sun finally abandoned the minting of gold coins, which was due to the economic crisis. At the same time, Japan joined the "sterling bloc", pegging its currency to the British pound. The outbreak of war with China led to devaluation. In 1937, the price of the yen fell to 0.29 grams of gold.

Since 1939, Japan has reoriented the exchange rate of the national currency from the pound to the US dollar. At the same time, the value of the yen fell to 0.20813 g of gold, which corresponded to 4.27 yen per dollar.

The Second World War finally destroyed the Japanese financial system. In August 1945, the dollar was already worth 15 Japanese yen, in March 1947 - 50, and in July 1948 - 250. At the same time, the yen was not freely convertible, and different exchange rates were introduced for various transactions. For some commercial transactions, the price reached 900 yen per dollar.

Illustration: central bank Japan

In 1949, the American occupation administration, headed by General Macarur, took over the business, which put things in order in the financial sector and established a single parity rate of 360 yen to the dollar. At the same time, the largest Japanese monopoly companies were fragmented, which served as an impetus for the development of competition and the economy as a whole.

By May 1953, the yen had become an International Monetary Fund-recognised currency with a parity of 2.5 milligrams against gold. In 1964, without the consent of the IMF, the leadership of Japan abandoned foreign exchange restrictions, making the yen freely convertible. Advances in economic development led to a series of revaluations of the yen. By the early 1970s, it was already worth 308, in 1978 - 280 yen per dollar, and the period of greatest appreciation of the currency occurred in the mid-1980s.

Japanese stagnation began in 1991 with a series of bankruptcies of financial institutions. The Asia-Pacific crisis of 1997-1998 led to the weakening of the yen from 115 to 150 yen per dollar. However, the devaluation stimulated the further development of exports, which again led to an increase in quotations. As early as 1998, a massive withdrawal of investors from the dollar caused the yen to rise rapidly from 136 to 111 within three days.

In 2002, Japan finally emerged from stagnation, and a steady growth trend emerged. At the same time, the national economy is export-oriented, so the policy of the Bank of Japan is aimed at maintaining a cheap yen. To do this, the country introduces minimum interest rates, and also uses foreign exchange interventions. In 2007, a number of economists suggested that the yen was 15% undervalued against the dollar and 40% against the euro.

As of late fall 2017, the yen is hovering around 111 per dollar, close to its historically highest price since World War II. One euro can be bought for 131.5 yen, and one Russian ruble for 1.9 yen.

The Japanese yen ranks third in the world in terms of foreign exchange reserves after the US dollar and the euro. The Bank of Japan is responsible for issuing currency and conducting monetary policy.

The value of the yen is determined primarily by the high level of production in Japan - the country ranks third in the world in terms of gross domestic product after the US and China, as well as a positive trade balance and negative (-0.7% in 2010) inflation. At the same time, the Japanese economy depends on the import of raw materials and energy resources, as well as on the demand for exported goods: electronics, cars, etc.

Today, the Japanese currency is actively used to support the dollar. Does that mean she's vulnerable? What currency to take for a long trip to Japan?

Japan's currency: course towards convergence

The currency of Japan, its rate today is a relatively predictable variable of exchange trading. At the same time, the yen came under the complete control of the dollar and completely dependent on export transactions with Europe.

The soft credit policy of the Central Bank of Japan makes it possible to neutralize currency risks for most businessmen and traders. The Japanese economy, despite the protracted deflation, was able to get out of the crisis.

What strengthens the national course of the land of the rising sun? Naturally - investments. If you are looking for a scientific area for investment activity, then there is nothing more effective than to entrust your capital to the Japanese.

Increasing innovations and nano technologies are sure to bring profits that will not be long in coming. However, keep in mind that this method of investing is quite expensive.

Is the currency of Japan comparable to the ruble?

There is a downward trend in the cross-rate of the Yen against the ruble. However, it is significant only for traders trading on intraday turnover.

The currency of Japan against the ruble is stable and has a narrow range of amplitude fluctuations, which makes it possible to predict the behavior of both monetary units in the long run.

What is the secret of the Japanese miracle? The answer lies on the surface:

1. Low % unemployment.
2. High demand for deposits among residents.
3. Vector public policy- increasing the well-being of citizens.

But keep in mind, the mentality of the Japanese is a 100% guarantee of success economic growth countries. Government support for domestic consumers leads to mutual support by the people of Japan for the chosen government, which makes it possible to avoid an exhaustive militarization of the economy.

Japanese currency against the dollar: reality and fiction

The dynamics of this JPY/USD pair reflects purely economic processes.

The peak of the rate with a linear sideways trend of 125.61 fell on the summer period. To date, there has been a decrease of 1.51 points, which is due to a number of factors:

1. Differences in the monetary policy of both countries.
2. No significant impact of the Euro on the Yen.

You can build your own forecast. When predicting the trajectory of the JPY, keep in mind that the Japanese currency will decline against the dollar due to factors:

1. Asian money supply programs.
2. Reducing US export operations due to a tripling of the dollar.

What currency to take to Japan during the holidays?

You can take dollars or yen, but be aware that the schedule of most Japanese exchangers settlements: from 9-00 to 15-00.

Departing in transit to Taiwan, better currency prepare in advance. Do not drag rubles with you.

It will be inconvenient for you to calculate the cost of Japanese goods in rubles, which are not accepted everywhere, since local banknotes differ in a large number of zeros.

There are two great ways to import currency:

1. Bank card.
2. Translation.

The first option is the safest and most convenient. And what currency to take to Japan is a secondary issue.

History of the Japanese yen

The history of the Japanese yen began in 1869, with the minting of the first coin. It appeared in free circulation in 1871, after the monetary reform, replacing clan paper notes. The process ended only after 8 years. Fractional units were also used, but were withdrawn from circulation in 1954. In 1927, Japan was hit by a crisis, and banks issued additional banknotes. It is noteworthy that at that moment single-sided bills of 200 yen appeared. In 1949, the yen lost significantly to the dollar (1:360), but then the situation stabilized. Now the Japanese currency is considered one of the most reliable.

Currency exchange in Japan

If you are going to visit the land of the rising sun, it is better to buy yen in advance. They are freely convertible in Russia, and they can be exchanged in local bank. Currency exchange in Japan will be more expensive due to the higher exchange rate and the lack of a yen-ruble pair, which means you will have to pay a double commission - for two transactions.

If the need for an exchange arose, it can be made at the airport or a Japanese bank. Be aware of bank opening hours. If the currency is needed urgently, and you cannot get to the nearest bank, it will be exchanged at the hotel without any problems. The course will not be the most profitable, and the number is limited.

Dynamics of the Japanese yen

The good dynamics of the Japanese yen is due to three reasons. The first is economic stability and large volumes of exports in the state. The second is the status of the world's reserve currency (however, the volume of international savings has slightly decreased compared to 1999-2000). Finally, the third is a free course. The value of the local currency is determined solely by the current economic situation and is not fixed by the bank or the government.

In recent years, the dynamics are not the best, but the yen retains its status and remains in demand among players and investors.

Japanese yen gold standard

Since its inception, the yen has been on the gold standard. One unit was equal to 1.5 gold. In a short time, it has undergone significant changes. The gold standard of the Japanese yen was introduced and canceled more than once, focusing on the current situation and economic indicators. By the end of the 1930s, the standard was finally abolished. However, some analogue of this standard remained.

The yen gained international recognition in 1953. At this time, the value of one yen was 2.5 milligrams, but subsequently it increased significantly. Now it is one of the most reliable currencies backed by gold.

Deflation of the Japanese yen

A strong currency has its drawbacks, which can be understood from the example of Japan. The deflation of the Japanese yen is associated with overproduction and forces the government to take various measures to currency control. At some points, there were attempts to reduce the value of the local currency in an artificial way (quantitative easing). Perhaps it is used repeatedly.

Excessive strengthening (growth) of the currency leads to a decrease in export volumes, an increase in the cost of labor, as well as other negative phenomena. For this reason, in Japan economic reforms and trying to drive up inflation.

Japanese yen banknotes

In Japan, coins are used in denominations of 1, 5, 10, 50, 100, 500 yen, there are also commemorative silver items in denominations of 1000 yen. Japanese yen banknotes have denominations from 1,000 to 10,000. Most of them were issued in 2004. Occasionally there are denominations of 2000.

The 2000 yen banknote of the first series is green. On one side there is a gate in the city of Naha, on the other - an illustration from the Tale of Genji. She almost never meets. In Japan, blue, purple, and brown banknotes depicting national heroes and landmarks are common.

Yen as a reserve currency

For decades, the Japanese currency has been considered a reserve currency and is very popular among investors and players. She is considered the second most important. However, in recent years, the yen as a reserve currency does not please investors: Money worldwide have declined by more than 5% since the start of the new millennium.

The reasons for this are problems in the country's economy, which led to excessive strengthening of the currency and deflation. The authorities are taking every measure to lower the exchange rate and make it less stable, but this does not help much. Despite the problems, it still competes with the British pound sterling and the Swiss franc to this day.

Origin of the name yen

The origin of the name of the yen is curious. It is connected with the history of trade in Asia. During the Qing Dynasty, yuans were used in China - silver bars. In the 18th century, silver coins were brought to China from Mexico and Spain, which became known as Western yuan. Then the British set up the production of silver coins, which they called the Hong Kong yuan - after the place of issue. They ended up in Japan over time, where they received the name in Japanese - "en". Subsequently, "en" gradually transformed into a yen. Already in 1830, they began to issue their own coins. The official name "yen" appeared a little later.

Today, many entrepreneurs work with other countries, buying goods and selling their products in promising markets. One such market is Japan. In this article, we will talk aboutwhat is their history, where to find out the current exchange rate and whether it is worth keeping your savings in Japanese yen.

Introduction

At the moment, the Japanese currency is completely dependent on the euro and the dollar, since almost all of the country's trade is tied to the west. China and Russia occupy the least in Japanese sales, while the US and EU countries account for almost 80% of the real turnover of goods.

Japan has both coins and banknotes.

Japan leads soft credit policy, thanks to which the yen exchange rate is considered quite stable, which eliminates the possible risks of traders and big businessmen. The last 10 years have seen constant deflation in the country, but despite this, it has emerged from several crises with virtually no losses. The fact is that the bankers of this country have relied on investments in technology and science, so the market practically did not suffer. Constantly developing production, development and effective implementation of innovations - that's what kept the country from serious shocks.

The ratio of the yen to the ruble

In recent years, the yen has been constantly falling against the ruble, until the Russian ruble has collapsed almost twice. Almost 3 years have passed since then, but the situation has not changed - the ratio of the cross-rate is approximately the same, except for major crisis jumps. The amplitude fluctuations are small, there are practically no changes in the exchange rate, which allows you to work for a long time with the hope of relative stability (changes in the exchange rate are associated with the fall of the ruble, and not because of the rise in price of the yen). Why is this currency so stable? There are several explanations for this:

1. Minimum unemployment rate, balanced migration policy.
2. Acceptable deposit program for citizens.
3. State assistance (most programs are focused on increasing the well-being and standard of living of the Japanese).

Relation to the dollar

Before disassembling,in progress, consider how they relate to US dollar. The classic pair JPY/USD is considered the main one - even despite the export of goods to the EU, the euro has practically no effect on the yen. It is noteworthy that when the dollar draws down, the yen does not necessarily fall - in the Land of the Rising Sun, a different monetary policy is aimed at reducing the money supply. Due to this, there is a constant shortage of domestic currency, which leads to the possibility of an easy correction of the exchange rate in order to smooth out the amplitude of fluctuations.

Japanese yen has many zeros

What to take to Japan

The main currency in Japan is the yen, so if possible, you can buy it before visiting the country. If the exchange rate in Russia is not very favorable, then take dollars - they can be easily exchanged at exchange offices or banks that work from 9 am to 3 pm local time. It is pointless to take rubles with you - the exchange rate for them will be very unprofitable.

Attention:if you don't want to mess around with cash, then take a regular Visa or Mastercard - you can pay with it in most shops, restaurants, hotels and taxis.

But still, it is better to have some local money to pay where there are no terminals - there are still such places in Japan.

Historical reference

Despite the fact that Japan has been known for more than a thousand years, the history of the yen does not begin until the middle of the 19th century. In 1869, the first coin was minted, and in 1871 it began to circulate, replacing the paper money that was printed by the clans. Monetary reform lasted almost 8 years - throughout Japan, the yen becomes official only in 1879. In 1927, the country enters a serious crisis, as a result of which banks have to throw a large amount of money into the market. In 1954, fractional numbers that were still used in everyday life go out of use, new bills are introduced in denominations of 200 yen. After the war, the dollar exchange rate was 1:360, now it floats around 105 for 1 dollar, so be prepared for the bills to have a large number of zeros. As of 2017–2018, the Japanese currency was among the ten most stable and reliable currencies in the world.

Attention:if you want to buy yen for rubles in Russia, then you will have a double conversion - first the rubles will be converted into dollars, and then the dollars into yens.

Therefore, if possible, try to change dollars for yen already in place - this way the exchange rate will be more profitable. Changing money at the airport is not the best idea, as the rate here is quite low. It is better to go to a bank or one of the many exchange offices that operate in almost all cities of the country. Please check before exchanging what they look like banknotes and coins so that you are not deceived (however, Japan has a very low crime rate).

How dynamic is the yen

The yen is a stable, reliable and affordable currency, which is ideal for saving personal funds and for mutual settlements. She won this position by the following actions:

1. The country's economy is stable, even when the head of government or the emperor changes, there are no major changes in the course of development.
2. Huge volumes of exports and inflows of foreign currency into the country. The yen is considered the world's reserve currency, although its turnover is not very large.
3. Floating rate, which depends on the economic condition of the country. Neither the government, nor the emperor, nor the national bank can influence him.

The yen is the world's reserve currency

It should be noted that over the past 5 years, the currency has dipped a little against the dollar and the euro, but these drawdowns are insignificant and are practically not felt against the general background. This is due to the fact that Japan is being squeezed in the markets by China, but still the countries have different production niches - the former rely on innovation, the latter on mass production. Official the exchange rate of Japanese money against the ruble at the moment is 1 JPY=0.54 RUB, 1 RUB = 1.85 JPY, and this ratio practically does not change.