The Japanese yen (Sign: ¥, Abbreviated: JPY) is the official currency of the country of Japan. It is the world’s fourth largest reserve currency, behind the dollar, the euro, and the pound. In addition, it is also the third most heavily traded international currency in the foreign exchange (forex) market. The JPY exchange rate has always been a key factor in international trade and economics.
The JPY was adopted by the Meiji on May 10th, 1871 and was released for circulation gradually starting in July of that year. The yen was undervalued with other currencies including the U. S. Dollar. By 1897 the yen was worth only about .50 USD because it was on a gold and silver standard instead of the gold standard of the US dollar. In 1971 Japan agreed to a fixed exchange rate of ¥308 per USD $1. These rates became difficult to maintain due to the supply and demand of the forex market. In 1973 Japan and the other major markets agreed to let their currencies to float.
Use our Japanese Yen (JPY)currency converter to calculate exchange rates for other currencies such as the United States Dollar (USD), Euro (EUR), or the Pound Sterling (GBP). Simply enter amount in JPY and select the currency you would like to convert to. Our conversion rates are updated daily, and will give you an extremely close estimate of the actual conversion amount. We recommend double checking the current rates before committing to any large financial transactions.