For my project I will be explaining and talking to you about the Japanese yen. A comparison of the yen with the Canadian dollar will be shown. The Momme, Ryo, Bu, Shu, Rin and Sen will be spoken about. I will be telling you about different monetary unit values. The Japanese currency in relation to the world wide monetary system will be discussed.
The money used in a country is called it's currency. The Japanese currency is called the Yen. The value of the currency is based on the county's economy. The Yen comes in coin and paper. 86.15 Yen =$1.00 Canadian. The Yen is one of the strongest currencies in the world. Japan's economy is one of the best in the world. The Japanese government runs the country's budget without a deficit. That means the country does not have to borrow money from other countries to operate. This is unlike Canada which has a large deficit in it's budget. Many other countries have a deficit, this helps to make Japan's currency more valuable.
The most commonly used coins used in Japan are 5, 10, 50, 100 and 500 Yen. Paper money is printed in 1000, 5000 and 10,000 Yen. Japan is one of the only countries that produces their own money. Most other countries have their money produced in countries that have mints. Japan's main mint is
Osaka. The bank of Japan and the ministry of finance control Japan's money institutions. At the end of 1993 there was 528.2 trillion Yen in banks, which equals 588.86 trillion dollars Canadian. The bank of Japan issues the Yen.
Japan's money supply includes more than just coins and paper (checking accounts). The Tokyo stock exchange is one of the world's largest. Japan's stock exchange is well developed. Japan has 13 city banks (5 of the world's 10 largest banks). Japan's city banks hold most of the country's assets.
Units of Japan's currency are called Momme, Ryo, Bu, Shu, Rin and Yen. Rin and Sen were taken out of circulation in 1954. Bu, Shu and Ryo were used before 1870.
In conclusion to my project on the Japanese Currency, I must say Japan has a very strong currency. I liked learning about the Japanese currency and the exchange rate. It was interesting and fun looking up the information for my project. I learned that a country's exchange rate for it's currency is based on the country's economy. Japan has a strong economy and therefore has a strong currency.