The yen is a Japanese currency with a rich history

Few for whom is a secret, as the Japanese currency is called, because in the foreign market the yen ranks third in popularity, second only to the US dollar and the euro. It was introduced in 1872 by a government headed by Meiji, with the aim of creating a system similar to the European one. The emperor signed the corresponding decree a year earlier. The new Japanese currency meant the use of a decimal accounting system. At that time, the value of one yen was 0.78 troy ounces, which was equivalent to the price for one and a half grams of gold. As of today, the same amount can be purchased more than 3.5 thousand yen.

Japanese coins and banknotes

For the first time in Japan coins were introduced in 1870. They were made of gold and silver. In the first case, the denomination was 5, 10, 20, 50 sep and 1 yen, and in the second - 2, 5, 10, 20 yen. Almost twenty years later, a coin with a face value of 5 seasons appeared in circulation, for the manufacture of which a copper and nickel alloy was used. In 1897, the government of the country withdrew silver yen from circulation and twice reduced the size of gold coins. Beginning in 1954, in Japan, all the coins lost less than one yen have ceased to be valid and all coins have ceased to be accepted. Now the biggest denomination of coins in Japan is 500 yen. It should be noted that they are one of the most expensive on the planet, therefore they very often become objects of forgery.

Throughout its history, the Japanese currency was issued in bank notes in the range of ten to ten thousand yen. The only body that has the right to issue them is the National Bank. It should be noted that for all time five series of Japanese banknotes were issued.

The fixed yen rate and its rise in price

As during the Second World War, and after it, Japanese money has significantly lost its value. In this regard, in order to ensure economic stability in the country, in 1970 a fixed rate was set at 360 yen per US dollar. A year after this, due to some depreciation of the dollar, its value was already 308 yen. At that time, the government understood that if the Japanese currency continued to appreciate, then the country's output would become less competitive, and this, in turn, would do great harm to the export and development of local industry. As a result, Japan in 1973 began to actively participate in the purchase and sale of foreign currency in international markets. Despite such measures, as the official exchange rate showed, the Japanese yen continued to appreciate. If at the end of the year for one US dollar was given 271 yen, then in 1980 - 227.

The Plaza agreement and its impact on the yen

In 1985, leading world financiers and analysts came to the conclusion that the US dollar is a highly overvalued currency. As a result, the so-called "Plaza" agreement was signed, which confirmed this fact. As a result, in 1988 the value of one dollar was 128 yen. In other words, the Japanese currency, in relation to the American currency, has increased its value almost twofold. It reached its peak in early 1995, when the exchange rate was 80 yen per dollar.