What is the currency of Japan?a)Yenb)Rupeec)Eurod)DollarCorrect answer...
Currency of Japan:
Japan's official currency is the Yen. The Yen is denoted by the symbol ¥ and the currency code is JPY. It is one of the most traded currencies in the foreign exchange market.
Key Points about the Yen:
- The Yen has been the official currency of Japan since 1871.
- The Yen is issued by the Bank of Japan, which is the central bank of Japan.
- The Yen is used not only in Japan but also in some other countries, especially in East Asia, due to its stability and reputation.
Usage of the Yen:
- The Yen is used for all transactions in Japan, including shopping, dining, transportation, and other daily expenses.
- The Yen is also widely accepted in major international cities around the world, making it convenient for travelers to use in various countries.
Value of the Yen:
- The value of the Yen fluctuates in the foreign exchange market based on various factors such as economic conditions, government policies, and global events.
- The Yen is known for its stability and is considered a safe-haven currency by investors during times of economic uncertainty.
In conclusion, the Yen is the official currency of Japan and plays a crucial role in the country's economy and international trade. Its widespread usage and stable value make it an important currency in the global financial system.
What is the currency of Japan?a)Yenb)Rupeec)Eurod)DollarCorrect answer...
The official currency of Japan is the yen, and it is represented by the symbol "¥".