The Japanese yen is the currency of Japan.
According to official data from the Bank for International Settlements (BIS) in its three-year report of 2007 shows that the level of participation of the Japanese yen in the forex market is 16.54% taking into account total 200% because the currency transactions involving simultaneous purchases and sales of currencies.
In this way, after the U.S. dollar and the euro, the Japanese yen is the third most traded currency in the forex market.
The ISO 4217 standard came to encode all the world’s currencies and the ISO code for the Japanese yen is JPY, mention being made with the first two letters to Japan and the last letter to his motto the yen.
The currency symbol used to represent the Japanese yen is the yen, but Japan is the Japanese yen 円 by this character.
Japan is now one of the major economies worldwide, and after the United States and the Euro Zone, stands as the third most developed country in the world.
It is important to remember that Japan is a state highly dependent on its export sector, and usually when its trade balance shows increases in exports with a surplus, national currency, namely the Japanese yen tends to appreciate in the forex market.
Also, the Tokyo stock market represents a major Asian financial centers, attracting thousands of investors who need Japanese yen to invest.
You can find Japanese yen bills in circulation of 1,000, 2,000, 5,000 and 10,000 yen.
This article is supplied by PLANETAFOREX.COM