Japanese Currency Information

Printed or minted money is also called currency. All major countries in the world have an official currency, which must be used in the exchange of goods and services. Japanese currency has a long history, and today the yen is one of the most-used currencies in the world market.

History

Historians believe that the Japanese produced their first currency, the Fuhonsen coins, in the seventh century. The yen became the official currency of Japan in 1871.

Types

Ancient Japanese currency consisted of coins made of copper and silver. The modern day yen is issued in 1,000, 2,000, 5,000 and 10,000 yen bills, and 1, 5, 10, 50, 100 and 500 yen coins.

Design

Japan copied the shape and size of Chinese coins when they minted their first coins. Today's Japanese paper currency features images of educators, a novelist, a bacteriologist, and the gate of a famous castle.

Significance

As of 2010, the Japanese yen is the third most-used currency in the world. Exchanges between the dollar and the yen are the second most common trades on the foreign currency exchange market.

Value

As of late February 2010, $1 is worth about 90 Japanese yen.

References

• Coinlink Numisatic Articles: Ancient Fuhonsen Coins May be Japan's Oldest Minted Currency
• Japan Zone: Money
• FX Info: Major Currencies in the Online Forex Trading Market

Resources

• Bloomberg: Currency calculator