Japanese Yen

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Japanese Yen

The currency of Japan. It was introduced by the Meiji government in 1871. The yen decimalized the previously used Tokugawa currency. It was originally pegged to gold (smaller units were pegged to silver). Following World War II, the yen switched its peg to the U.S. dollar through the Bretton Woods System. In 1971, the yen began to float because it had become undervalued and because the United States left the Bretton Woods System. The currency suffered from exceptionally low value in the wake of the Asian financial crisis, but stabilized by the mid- and late-2000s. It is a common reserve currency, and is one of the most commonly traded currencies in the world.
References in periodicals archive ?
Product (PS21867-AJ) samples will be available in March 2004 at 5,000 Japan yen per piece with monthly mass production of 20,000 pieces scheduled to begin from January 2005.

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