Yen

The yen is the national currency of Japan and as such is one of the financial community’s fundamental instruments. Not surprisingly, the yen is a one of the most important currencies in Forex. The international code for the currency is JPY. The yen was introduced into circulation 1871 with the purpose of replacing a complicated monetary system in which the country’s government and empire used both gold and bank notes as currency simultaneously. The yen acquired the status of an international currency in 1953.