Money and Capital Market

[pic] NAME: VINCENT CLASS: NEW MEXICO SUBJECT: MONEY AND crown MARKET ABOUT YEN Yen (sign: ¥, code: JPY) is the currentness of Japan. It is the third most(prenominal)-traded currency in the foreign exchange market after the Euro and the linked States dollar. It is also widely used as a reserve currency after the U.S. dollar, the Euro and the Pound sterling. Pronunciation and etymology The Japanese pronunciation is en, the spelling and pronunciation waste is standard in English. This is due to a historical Portuguese transliteration which included the earn y based on Romanization of an obsolete writing of the denomination which included the kana ? (ye/we). Similar examples of this Romanization are found in such words as Yebisu, Iyeyasu, and Yedo, although the actual pronunciation was e. The word was borrowed from the Chinese (Mandarin) yuán (? or ?) History The hankering was introduced by the Meiji government in 1872 as a system resembling those in Europe. The New property Act of 1871 stipulated the adoption of the decimal accounting system of yen (1, ?), sen (1?100, ?), and rin (1?1000, ?), with the coins being round and cast as in the West. The yen was legally defined as 0.78 troy ounces (24.26 g) of pure silver, or 1.5 grams of pure flamboyant.

The same amount of silver is value almost 1181 modern yen, while the same amount of gold is worth about 4715 yen. The Act also moved Japan onto the gold standard. The sen and the rin were eventually taken out of circulation at the end of 1953. unconquerable value of the yen to the US dollar The yen lost most of its value during and after World War II. After a period of instability, in 1949, the value of the yen was fixed at ¥360 per US$1 through a United States jut to stabilize prices in the Japanese economy. That exchange rate was hold until 1971, when the United States abandoned the gold standard, which had been a key agent of the Bretton Woods System, and imposed a 10 percent dowse on imports, setting in... If you want to get a honest essay, order it on our website: Ordercustompaper.com

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