What is the official currency of Japan, used by the yen symbol ¥?

The Japanese yen is the official currency of Japan, represented by the symbol ¥.

The yen was established by the New Currency Act of 1871 during the Meiji period, when Japan was reorganizing its government and economy. The word “yen” means “round,” reflecting the shape of the new coinage. Its international currency code is JPY, while the Japanese name is en, written 円.

The yen is issued by the Bank of Japan, the country’s central bank. Coins include denominations from one yen upward, while banknotes are issued in larger denominations. Japanese currency has featured historical figures, cultural symbols, plants, and animals, with designs updated periodically to improve security.

The yen should not be confused with the Korean won, even though the two names share historical linguistic roots connected to the idea of round money. The yen is also a major global reserve and trading currency, although its exchange value changes continuously against other currencies.