According to the Encyclopaedia Britannica, the Japanese currency is called the yen. The symbol of the yen is ¥. The yen is among the major international currencies, due to Japan's economic renaissance in the second half of the 20th century.Know More
The Encyclopaedia Britannica states that the name for the yen comes from the name of an ancient Chinese coin known as the yuan. The yen had completely replaced the clan notes of Japanese feudal lords by 1879. It was first introduced in 1871 as part of a major monetary reform. The Bank of Japan is the sole issuer of yen banknotes and coins. Banknotes range in value from 1,000 to 10,000 yen, while coins are used for values between 1 and 500 yen.