- Offering
- Resources
- Company
- About Us
- Help & Support
- Partnerships
- NAGA
- Currency Encyclopedia
- Japanese Yen
Facts about the Japanese Yen
Importance of the Japanese Yen
The Japanese Yen (JPY) is the native currency of Japan and is the third-most traded currency in the world. It is considered to be a proxy for all trades done in Asia since China’s currency is still facing flexibility issues. Moreover, its importance lies in the fact that is the fourth most popular reserve currency following the US Dollar, Euro, and Sterling. One of the most important characteristics of the JPY is the zero interest rate which made the Japanese Yen one of the most popular funding currencies. Thus, a potential uncertainty in the markets or if it is an aggressive market crash can drive the JPY to higher levels. This is important since the JPY can show the market’s tolerance for risk.
Introduction of the Japanese Yen
In the 19th century, Japan started a new era by adopting a modernization policy. Part of this was also the establishment of a new currency known as the Yen. In 1871, the Meiji government decided to introduce a common unit of exchange which was designed based on the European Decimal Monetary System. In 1882, the Bank of Japan was created which had a monopoly on the control of the money supply. To maintain the Japanese economy after the Second World War, the currency lost a big part of its value. In the period 1985 until 1988, the JPY faced a tremendous change in its exchange rate from 249 yen per US dollar to 128 yen per USD, boosting Japan’s GDP. However, the Yen’s value started to decrease until 2018 when the CNBC estimated the JPY to be one of the top-performing currencies.
FAQ
What does JPY mean in currency?
What is the symbol of the Japanese Yen?
What Makes the Japanese Yen Important?
What countries use the Japanese Yen?
Is JPY a good investment?
Japanese Yen Stats
Name
JPY
Symbol
¥ or 円
Minor unit
1/100 = sen
Minor unit symbol
錢 or 銭
Bank notes
Freq Used: ¥1,000, ¥5,000, ¥10,000 Rarely Used: ¥2,000
Forex Investing
Japanese Yen Exchanges Rates
Need Help? Visit our Help Section
Download NAGA Trader
Markets
Platforms
Pricing & Terms
Company
Documentation
Partnerships
Help & Support
Free Education
News & Analysis
Download NAGA Trader
Copyright © 2024 – All rights reserved.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
The website is operated by JME Financial Services (Pty) Ltd an authorised Financial Services Provider, regulated by the Financial Sector Conduct Authority in South Africa under license no. 37166. JME Financial Services (Pty) Ltd is located at Suite 10, 21 Lighthouse Rd 201 Beacon Rock, Umhlanga Rocks, Kwa-Zulu Natal, 4320, South Africa.
JME Financial Services (Pty) Ltd acts as intermediary between the investor and Naga Capital Ltd, the counterparty to the contract for difference purchased by the Investor via Naga.com/za. NAGA Capital Ltd is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026. Naga Capital Ltd is the principal to the CFD purchased by investors on this website. Partner company Naga Markets Europe Ltd provides content and operates the business, Head office address: Agias Zonis 11, Limassol 3027, Cyprus, with company reg. number HE 251168.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. Illustrations, forecasts or hypothetical data are not guaranteed and are provided for illustrative purposes only. JME Financial Services (Pty) Ltd does not render advice in respect of the CFD’s offered on this website. Before making an investment decision, you should rely on your own assessment. The Company’s disclaimer, conflict of interest policy are available on legal documents section.
Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.