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 ?
Japan's export dependency has increased due to the weakening yen.
In the year through last March, Alps Electric paid a total of 12 yen in per-share dividends, including a year-end dividend of 6 yen.
Nippon Conlux, a developer of coin mechanisms for vending machines, fell 21 yen to 685 yen.
Market nervousness about the risks of a further round of currency depreciation in Asia increased after certain Chinese officials voiced dissatisfaction with the effect of yen depreciation on Chinese trade and economic conditions.
A lot of speculation in Treasury securities has been financed by borrowing yen at an interest rate of about one-half of a percent.
Using a sharing formula, the price decrease would be 668,421 yen for a net price of 10.
Despite the large appreciation of the yen in the late 1980s, the Japanese trade surplus declined only modestly, and then primarily because of the investment and consumption boom, which led to a rapid increase in imports.
The dollar began the quarter by continuing its upward movement against the yen, supported by expectations for further monetary tightening in the United States and steady monetary policy in Japan.
84 yen but still was more than 35 percent above its April record low.
For instance, if you hedge your yen receivable at 100 yen per dollar with a forward contract, you'll get $1 for every 100 yen you deliver to the bank in, say, six months.
now expects 203 billion yen in group net profit instead of an earlier-estimated 197 billion yen and 260 billion yen in pretax profit instead of 250 billion yen on 1.
Despite the diminishing impact of increasingly large interventions and signals to the market that the government fully intends to intervene as much as necessary, Japanese exporters are moving to hedge the risk that the yen will move through the [yen]100 milestone this year.