GBP / JPY • Currency
Pound sterling to Japanese yen
Follow
Exchange Rate
Previous close
153.00
About Pound sterling
The pound sterling, known in some contexts simply as the pound or sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. It is subdivided into 100 pence. The "pound sterling" is the oldest currency in continuous use. Some nations that do not use sterling also have currencies called the pound.
Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fifth most-held reserve currency in global reserves.
The British Crown dependencies of Guernsey, Jersey and the Isle of Man produce their own local issues of sterling which are considered fully equivalent to UK sterling in their respective regions. WikipediaAbout Japanese yen
The yen is the official currency of Japan. It is the third most traded currency in the foreign exchange market, after the United States dollar and the Euro. It is also widely used as a third reserve currency after the United States dollar and the Euro.
The concept of the yen was a component of the late-19th century Meiji government's modernization program of Japan's economy, which postulated the pursuit of a uniform currency throughout the country, modeled after the European decimal currency system.
Before the Meiji Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. The New Currency Act of 1871 did away with these and established the yen, which was defined as 1.5 g of gold, or 24.26 g of silver, as the new decimal currency. The former han became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation, the Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply.
Following World War II the yen lost much of its prewar value. Wikipedia