If you ever visit Japan for business or a vacation, you will need to use the Japanese currency Yen for legal tender. Before its advent, the nation used a complicated monetary system. In 1871, the Japanese Yen started circulation with the intent to stabilize the economy of the nation. The gold standard was embraced for the currency in 1897, and since then, the currency of Japan has been a lot stabler than in the past.
Kavan Choksi is a skilled and esteemed entrepreneur who is fond of travel and photography. According to him, the Japanese Yen is the 3rd most traded currency in the global foreign exchange market. Its name means circle or round object in English. The Yen derived its name as the coins were perfect in shape. In the nation, the people call the Yen Okane, which translates into “money.”
The currency code of the Japanese Yen is JPY, and the symbol deployed to represent it is ¥. This symbol also represents the symbol of the Chinese Yuan.
An Insight into the banknotes of the Japanese Yen
The Japanese Yen is available in the dominations of 1,000, 2,000, 5,000, and 10,000. You can view all the new and old banknotes at The Currency Bank of Japan, and its entry is free to all. Several people are unaware that the 5000 banknotes of the Yen have the painting ofŌgataKōrin’s called The Kakitsubata Flowers.
Security features of the Japanese Yen
The Japanese Yen is one of the hardest currencies in the world to counterfeit. The bills have several measures for anti-counterfeiting the note, like holograms, watermarks, and Intaglio ink, that raises the print of the bill when touched. It is very difficult for one to scan or print similar notes. The Japanese Yen banknotes also use luminescent ink that makes them glow as well.
If you visit Japan for work or a holiday, you will have many options to pay for services and goods. Using the Yen as cash is a universal and convenient way for you to pay, especially if you are visiting big cities like Osaka or Tokyo.
Getting cash for products and services
Cash is convenient for you to pay for affordable items and services whose costs are quite low. Japan will not accept foreign currency, so pounds, dollars, or, for that matter, any other currency will not be accepted as legal tender in shops locally.
If you wish to access cash, you should exchange money at the post office or airport. For better rates of foreign exchange, ATMs are also available. However, all of them will not accept foreign debt cards. In order to get cash from the ATM, you can check out the postal ATMs and the ones that are inside the 7-11 convenience stores. Both of these ATMs accept foreign debit cards.According to Kavan Choksi, you can also use your credit cards when you are traveling to Japan- most stores in the nation will accept them without hassles.