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 ?
The 15 trillion yen flowing overseas is just 1 percent of the total.
The company said it plans to pay a year-end dividend of 5 yen per share thanks to stronger-than-expected orders since the start of this year.
Meanwhile, stocks related to the planned issuance of 2,000 yen bills moved down, due mainly to profit-taking following their gains the previous day.
The yen depreciated beyond the [yen] 136 level after the Birmingham Group of Eight summit meeting in mid-May.
National is exposed to currency movements on the full 10.6 million yen in the range (100.70 to 111.30) without a price adjustment.
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.
Denso now expects a group net profit of 10 billion yen, down from its initial projection of 101 billion yen, and a pretax profit of 59 billion yen, down from 205 billion yen, on sales of 3.3 trillion yen, down from 3.65 trillion yen.
As the yen fell to 107.5, a number of carmakers were understood to be dumping large amounts of their foreign-earned dollars on the market.
Foreign exchange market volatility was slightly higher during die quarter, with the average daily trading range for the dollar widening to 1.0 percent against both the mark and the yen, compared with average daily ranges of 0.9 percent experienced in the first quarter of 1997 and 0.7 percent in the second quarter of 1996.
The forward contract is an agreement with a bank - a derivative - that allows us to sell the bank our future yen flow, for example.
By sector, the animal-derived components/materials segment will rise from 60.2 billion yen ($510 mil) in 2005 to 102.6 billion yen ($869 mil) in 2010; the plant-derived components/materials segment will climb up from 40.9 billion yen ($346 mil) in 2005 to 57.9 billion yen ($490 mil) in 2010.