Japanese yen
0.0072708 (+0.96%)
Performance & facts
| Japanese yen price: | 0.0072708 | #17 | |
| Price change 1 hour: | +0.07% | #1 | |
| Price change 24 hours: | +0.96% | #1 | |
| Price change 7 days: | +1.46% | #5 | |
| Price change 30 days: | +0.85% | #10 | |
| 24 hour range: | 0.0067608 - 0.0068208 | ||
| 52 week range: | 0.0063108 - 0.0071508 | ||
| ISO 4217 currency code: | JPY | ||
About Japanese yen
Japanese yen is currency of Japan and third largest reserve and trading currency in the world, second only to US dollar and Euro.
Japanese yen, issued by Bank of Japan (internationally referred to as simply "BOJ"), is circulated in physical form as bank notes and coins. There are no sub-divisions as each yen carries relatively low purchasing power.
After the second World War, yen lost most of its value and, to stabilize the post-war Japanese economy, was temporarily pegged to the US dollar at 360 yen to 1 US dollar. This peg was abandoned in 1973 when Japanese yen become free floating currency and underwent several periods of appreciation and depreciation.
Modern day Japanese yen is not strictly "free floating" as its value is systematically manipulated by Bank of Japan, with bias towards inflation, as Japan is export-oriented economy with large trade surplus.
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