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Japanese Yen

The Japanese yen, also written as JPY, is the official currency of Japan. The yen was created in 1872, replacing the mon currency of the feudal era. The yen lost most of its value by the end of World War II and was pegged to the U.S. dollar in 1949. When the U.S. went off the gold standard in 1971, the yen was taken off the dollar peg in 1973 and has been a floating currency since. The yen is the third most traded currency in the foreign exchange market after the United States dollar and the euro.

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