This is the latest exchange rate for the Yen today which is the official currency of Japan. The currency is the Japanese Yen with symbol code: JPY.
The JPY exchange rate is affected by economic conditions within Japan. Things such as interest rate changes, GDP and unemployment can affect the Yen currency. Economic policies in Japan are set by the Bank of Japan at regular meetings throughout the year.
|1 Yen =||0.01 USD|
|1 Yen =||0.01 EUR|
|1 Yen =||0.01 GBP|
This table displays other common conversions of the Yen in US Dollars.
|100 Japanese Yen||0.88|
|500 Japanese Yen||4.41|
|1000 Japanese Yen||8.81|
About The Yen
Japan adopted the yen as their official currency in 1871. The name means, “a round object,” so yen were named after the shape of the original coins. Originally, yen were divided into sen and rin as different subunits. However, these subunits were taken out of circulation in 1953.
As of 2016, there are six coins in circulation for the yen. This includes ¥1, ¥5, ¥10, ¥50, ¥100 and ¥500. The coins contain a variety of sizes, shapes, colors, and metal compositions. The ¥1 coin is made of aluminum, while the other coins are varying compositions of copper, zinc, tin and nickel. Some of the coins have reeded edges, while others have smooth edges. Some have holes in the middle, and some do not. This makes it easy for each coin to be identified.
Paper banknotes for the yen include denominations of ¥1000, ¥5000 and ¥10,000. Each type of banknote has a different size and color, including blue, purple and brown. The different denominations are printed by the National Printing Bureau.
The Japanese yen is governed by the Bank of Japan. The currency was originally valued based on the gold standard system, but it has since shifted to the managed currency system. The value of the yen exchange rate dropped drastically during World War II, and it has had a rocky history since then. However, the Bank of Japan has attempted to stimulate the economy by keeping interest rates low in recent decades.
Historical Yen Exchange Rate Chart