Japanese yen (JPY)

The Japanese yen (JPY, symbol ¥) is the official currency of Japan, issued by the Bank of Japan. Established by the New Currency Act of 1871 during the Meiji Restoration, the yen modernized Japan's monetary system by adopting a decimal scale based on silver and gold standards. Subdivided historically into 100 sen and 1,000 rin, these subunits were demonetized in 1953, leaving the yen as one of the world's most traded reserve currencies.