Japanese yen

The Japanese yen (円 or 圓, en, symbol: ¥; code: JPY) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling.

Pronunciation and etymology

Yen is pronounced "en" [eɴ] in Japanese. The word (Shinjitai: 円, Kyūjitai: 圓) literally means "round" in Japanese, as yuán does in Chinese or won in Korean. Originally, Chinese had traded silver in mass (see sycee) and when Spanish and Mexican silver coins arrived, the Chinese called them 銀圓 (silver round) for their circular shapes, The coins and the name also appeared in Japan. Later, the Chinese replaced 圓 with 元 which has the same pronunciation in Mandarin (but not in Japanese). The Japanese preferred 圓, which remains until now (albeit in its simplified form, 円, since the end of World War II).