Monday, April 29, 2019

4 Interesting Facts About the Japanese Yen

4 Interesting Facts About the Japanese Yen

OnlineFXOrdering foreign currency online is easy with OnlineFX.




Are you planning a trip to Japan? You might be staying in a hotel, eating delicious food, or going on tours. So, make sure before you head over, you get familiar with their currency! Don't forget to check out how much currency you need to go on vacation to Tokyo, Japan.

History of the yen

Before the yen, Japan used an old complex monetary system. In 1871, the yen came into circulation when it created to stabilize Japan's economy. In 1897, the gold standard was adopted for Japan's currency. Since then,  Japan's currency has become much more stable.

Today, the yen is the third most traded currency in the foreign exchange market. 

Names for the currency

The name "yen" translates to "round object" or "circle" in English. This is because of the perfectly round shapes of the coins. In Japan, the citizens call the Japanese yen "Okane" which basically just means "money."

The yen's currency code is JPY. The symbol used to represent the yen is ¥, which is also the symbol used by the Chinese yuan. 

Japanese yen banknotes

The Japanese yen has denominations of ¥1,000, ¥2,000, ¥5,000, and ¥10,000. Many people do not know the 5,000 yen banknote has features Ōgata Kōrin's painting, “The Kakitsubata Flowers”. You can see all old and new banknotes at The Currency Museum Bank of Japan. Travel tip - entry is free to anyone!

The yen's security features

Japan's currency is one of the most difficult currencies to counterfeit. The bills feature many anti-counterfeit measures including watermarks, holograms, and intaglio ink, which raises the print of the bills to the touch. It would be hard to print or scan a similar one.

The bills even use luminescent ink, which makes the banknotes glow under ultraviolet light!


Get more foreign currency (FX) news >

Subscribe now to CXI's newsletters >


About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 90 foreign currencies, multi-currency cash passport’s, traveler’s cheques and gold bullion coins and bars. For financial institutions and corporations, our services include the exchange of foreign currencies, international wire transfers, global EFT, the purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com

Disclaimer: All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.
Posted By Isabella Guevara at 09:00 AM
comments powered by Disqus

Platinum Passport

Travelers: Never miss a thing and be the first to know about CXI branch promotions, travel tips and hot trends.

Currency Insider

Corporations & Financial Institutions: Want to get ahead of the curve for the upcoming week? Get CXI's currency market trend analysis sent directly to your inbox weekly.