Did you Know That…
The Japanese yen is one of the world’s most traded currencies and although it might not as famous as the euro or the USD, it plays a significant role in global economy. On this page we’ll bring you just 11 fun, interesting facts that you may or may not know about this Asian currency.
- The Japanese yen is the third most traded currency in the world.
- It’s popular as reserve currency, following the USD, the euro and the GBP.
- According to various reports, the five yen coin was originally created with a hole to save materials following the war, when the country faces serious inflation.
- The 50 yen coin, which appeared years later, was created with a hole because it was frustratingly similar to the one-hundred-yen coin.
- Microwaving a one-coin yen makes it squashy. Don’t ask us how we know.
- Placing a yen at a microwave while you’re in Japan can result in a 200,000 yen fine, according to the Monetary Damage Control Act. Don’t; say we didn’t warn you.
- The yen might be the only currency that can float. Well, to be more accurate it floats if you place it carefully on the face of the water, due to its light weight, but if you push it down it’ll sink.
- The five hundred yen coin is – sometime – the most valuable standard currency coin on the face of the planet. Why sometime? Because, as every forex trader knows, foreign exchange rates change and it has rivals, most notably the Swiss five franc.
- It costs more to make one-yen coin than it is actually worth.
- Since 1872, when Japanese banknotes were first issued, their denominations have ranged quite a bit – from 0.05 yen to 10,000 yen. Today though, the lowest-value banknote is the 1,000 yen.
- At iFOREX, you can trade the yen in the form of CFDs, so you don’t actually need to buy and store it.