JPY

Yen from Japan.

The first western-style coins stamped in Yen units and the 1 yen silver coin used for trading following the New currency act promulgated by the Meiji government in Meiji 4 (1871).

The Meiji government started to reform the complicated monetary system of Edo Period into a modern system resembling those in European countries. It was accomplished by the enactment of the New currency act, which stipulated:
  • the adoption of the decimal accounting system of yen, sen, and rin.
  • that gold coins shall be the monetary standard, while silver and copper coins be subsidiary. (Adoption of the gold standard).
  • the adoption of round-shaped stamped-out currency for gold and silver coins as in the modern western countries.

Yen, literally means "circle". One yen corresponds to 100 sen. However, sen are not used in everyday life anymore.

Similar financial terms

No similar financial terms found in the dictionary.
Termbox
Digg the financial term Digg it!
Share financial term on facebook! Share on Facebook
Add to Yahoo My Web Add to Yahoo!
Add to Google bookmarks! Add to Google
Add financial term to del.icio.us Add to del.icio.us
Add financial term to Reddit! Add to Reddit
Add financial term on Spurl Add to Spurl
Add financial term to Furl Add to Furl
E-mail term to a friend! E-mail term to friend!
Printer friendly version Printer friendly version


Did you know?

Odd lot dealer

A broker who combines odd lots of securities from multiple buy or sell orders into round lots and executes transactions in those round lots.


Popular terms


About us  About bizterms.net
Contact us  Contact us
Bookmark us