The country that uses yen as its official currency is Japan. The Japanese yen is one of the most traded currencies in the world and is symbolized by ‘¥’.
Yen was first introduced in Japan in 1871, as part of the Meiji Restoration, which aimed to modernize the country’s economy. The currency has gone through various changes and is now managed by the Bank of Japan, which is the country’s central bank.
The yen is used for nearly all transactions in Japan, from everyday purchases to large-scale business dealings. People can find yen notes in denominations of 1,000, 2,000, 5,000, and 10,000, and coins in denominations of 1, 5, 10, 50, 100, and 500.