What currency does Japan use?
Japan uses the Japanese yen, written as ¥ and with the code JPY. It is one of the most traded currencies in the world, along with the US dollar and the euro.
The yen was introduced in 1871 by the Meiji government to replace a complicated system of feudal currencies. The word yen means round object or circle. Coins come in 1, 5, 10, 50, 100 and 500 yen, and banknotes in 1,000, 2,000, 5,000 and 10,000 yen.
In July 2024, Japan released new banknotes featuring updated designs and 3D hologram portraits to prevent counterfeiting. The 10,000-yen note shows Eiichi Shibusawa, called the father of Japanese capitalism. The 5,000-yen note features educator Umeko Tsuda, and the 1,000-yen note shows scientist Kitasato Shibasaburō.
Cash in Japan
Japan has traditionally relied heavily on cash, though cashless payments using cards and smartphones have grown quickly. The yen is considered a safe-haven currency, often rising in value during global financial uncertainty.
Did You Know?
The 5-yen and 50-yen coins have holes in the center. The 5-yen coin is often given as an offering at shrines because go-en sounds like the word for good fortune or connection.