The Japanese Yen is the official currency of Japan, denoted by the symbol “¥” and the currency code “JPY.” It is one of the most traded currencies in the world and serves as the third most widely held reserve currency after the US Dollar and the Euro. The yen was introduced in 1871 as part of the Meiji government’s modernization efforts, replacing various complex systems of exchange previously used. The currency is subdivided into 100 sen, although sen are no longer commonly in use. The Japanese Yen is known for its distinctive physical form, with various banknotes and coins featuring prominent historical figures and national symbols. Its value can fluctuate based on various economic factors, including interest rates, trade balances, and political stability, making it a key component in global finance. The yen is often used in forex trading and is considered a safe-haven currency during times of economic uncertainty.
The U.S. dollar and yen fluctuated around 150.10 yen, highlighting a delicate balance influenced by interest rate expectations in Japan and the U.S. Exchange rate movements demonstrated a subtle but…