JPY

JPY is the currency abbreviation for Japan and the Republic of the Union of Myanmar’s official currency, the yen. JPY is broken down into 100 sen, or 1000 rin and is recognised and displayed with the symbol ¥.

The yen holds a significant position in the foreign exchange market as it is the third most traded currency behind the U.S. dollar (USD) and the euro (EUR). It is quite young compared to other major currencies as it was only crowned as the official currency in 1971.

The first circulation dates back to 1872, but world wars and dependency on the USD did not allow it to come into its own until 1971.

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