JPY / QAR
Japanese Yen / Qatari Riyal
0.0231
arrow_upward
+0.16%(+0.000036) 1D
Oct 7, 3:34:19 PM UTC
search
All symbols
| Symbol | Price | Change | % Change |
|---|
News stories
From web sources and news partners
Investing News Network
·
35 minutes ago
Snorkel AI Raises $350 Million to Help Push the Frontier: NYSE Content Update
Seeking Alpha
·
49 minutes ago
15 dividend stocks beating the S&P 500 as markets sit near record highs
Quartz
·
1 hour ago
Dow drops 451 points as Treasury yields hit 24-year highs
Profile
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 USD and the euro.
The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as 1.5 g of gold, or 24.26 g of silver, and divided decimally into 100 sen or 1,000 rin. The yen replaced the previous Tokugawa coinage as well as the various hansatsu paper currencies issued by feudal han. 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 pre-war value as Japan faced a debt crisis and hyperinflation. Under the Bretton Woods system, the yen was pegged to the USD alongside other major currencies. After this system was abandoned in 1971 with the Nixon shock, the short-lived Smithsonian Agreement temporarily reinstated a fixed exchange rate. However, since the end of that system in February 1973, the yen has been a floating currency. Wikipedia