The currency of Japan is called the Japanese Yen.
The Japanese Yen (JPY) is the official currency of Japan, playing a fundamental role in the nation's economy and daily transactions. It is globally recognized by its unique symbol, ¥.
Key Details of the Japanese Yen
Understanding the essential characteristics of the Yen is crucial for anyone engaging with Japan's economy or planning a visit.
| Aspect | Detail |
|---|---|
| Currency Name | Japanese Yen |
| Currency Code | JPY |
| Currency Symbol | ¥ |
| Issuing Authority | The Bank of Japan is responsible for issuing and managing the Japanese Yen. |
Japan's Cash-Centric Society
Japan is generally considered a cash society. While the adoption of digital payment methods has increased, cash remains widely accepted and frequently preferred across the country. This preference is particularly evident in smaller shops, traditional establishments, rural areas, and for various daily transactions. Consequently, visitors and residents alike find it practical to always have a supply of Japanese Yen on hand.
Denominations and Practical Usage
The Japanese Yen is issued in a variety of denominations, designed to facilitate convenient daily commerce.
- Coins: Common coin denominations include ¥1, ¥5, ¥10, ¥50, ¥100, and ¥500.
- Banknotes: Standard banknote denominations are ¥1,000, ¥5,000, and ¥10,000. A ¥2,000 note exists but is rarely encountered.
Practical Insights for Using Yen:
- Small Denominations: It's highly advisable to carry smaller banknotes and coins, especially for vending machines, public transport fares, and purchases at smaller vendors or convenience stores.
- ATM Access: ATMs are readily available throughout Japan, particularly within convenience store chains like 7-Eleven, FamilyMart, and Lawson. Many of these ATMs offer multilingual services and accept international debit and credit cards, making cash withdrawals convenient for travelers.
- Card Acceptance: While major hotels, large department stores, and many restaurants in urban areas accept credit and debit cards, having cash is always recommended as a reliable backup, especially outside major metropolitan centers.
Exchanging Currency
Travelers can exchange foreign currency for Japanese Yen at international airports, major banks, and a selection of hotels across Japan. It's often practical to exchange a small initial amount before or upon arrival and then utilize ATMs or currency exchange services as needed for larger sums.
