In the next article in our series on currencies, we present the currency of the Land of the Cherry Blossom, Japan. Japan’s currency is one of the most important in the international monetary system, as it ranks fifth in terms of the share of international transactions, behind only the dollar, the euro, the British pound and, more recently, the Chinese yuan. Money in Japan is thus a fairly clear theme, well known around the world. You should also be aware that in Japan you can play at online casinos using not only Japanese currency, but also Bitcoin. That’s why we can ビットコイン カジノ おすすめ that allow you to play for bitcoin. Additionally, it’s important to keep in mind the size of the Japanese economy, as it is the third largest economy in the world in terms of nominal GDP! A trip to Japan should be preceded by knowledge of what currency to bring with you to Japan?
A brief history of Japan’s currency
The first banknotes were issued by the Bank of Japan in 1885. However, Japan’s official currency – the Japanese Yen – debuted much earlier, in 1872. At that time, after the Meiji Revolution, a new decimal system, modeled on Western countries, was created to replace the previous complicated currency system. Initially coins were minted and round, the Japanese yen was to be gold and divided into 100 sen and 1000 rin (the division was abandoned in 1954).
The currency of Japan – how is the Japanese yen JPY divided?
1 Japanese yen was equivalent to 100 sen and 1000 rin. Currently in circulation are:
- coins with denominations of 1, 5, 10, 50, 100 and 500 Japanese yen;
- banknotes with denominations of 1000, 2000, 5000 and 10,000 Japanese yen.
Japan currency – what does the Japanese yen look like?
Japanese yen is not one of the frequently counterfeited currencies, but due to its popularity it is worth looking at the money you receive, especially the largest note, the 10000 JPY.
How can you quickly and conveniently check if your banknote is genuine? First of all, check the watermark – in the bright circular area in the middle of the banknote, held against the light, you can see an image of a person (or a building as on the 2000 yen banknote). There is also a hologram on the 5,000 and 10,000 yen banknotes, which should shimmer in different colours from different angles and change smoothly as the banknote changes position, rather than abruptly.
How do I pay in Japan?
When planning a trip to Japan we should also plan where to buy Japanese yen. With a strong economy and numerous international links, the Japanese Yen is one of the global currencies and is relatively easy to access at a good price.
Prices Japan 2021, or how much money to take to Japan?
The prices in Japan presented in the table below are only illustrative values. There are also our preferences, such as shopping and cooking on our own, or eating out in restaurants, and many other factors. All of this makes it difficult to determine unequivocally and confidently what money in Japan will provide us with a peaceful holiday. When planning your holiday budget, please do not take the prices quoted as absolute and the only source.