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 "¥".
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.