The Yen (¥) is the official currency of Japan. It is abbreviated as JPY, and its ISO code is JPY. The yen is used for a wide range of transactions in Japan, including consumer purchases, business transactions, and financial transactions.The yen is one of the major currencies in the world, along with the US dollar, the euro, the British pound, and the Swiss franc. The value of the yen relative to other currencies can fluctuate based on a number of economic and political factors, such as changes in interest rates, the trade balance, and government policies.As a result, the yen is widely traded in the foreign exchange market, and is often used as a currency for international transactions and as a hedge against currency risk. The yen is also used as a reserve currency by many central banks, meaning that it is held as a source of liquidity in the event of economic turmoil or other financial emergencies.
