The Japanese Yen is the official currency of Japan, represented by the symbol “¥” and the currency code “JPY.” It is the third most traded currency in the world, following the US dollar and the Euro. The yen is subdivided into 100 sen or 1,000 rin, although these subdivisions are rarely used in practice. The currency is issued by the Bank of Japan, which is the central bank, and its value can fluctuate based on various economic factors, including interest rates, inflation, and trade balances.
The yen is notable for its role in international trade and finance, often serving as a reserve currency for several countries. It is also commonly used in currency pairs in the foreign exchange market, where it is frequently traded against other major currencies. The Japanese Yen is characterized by its stability, making it a safe-haven currency during times of economic uncertainty.
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