The chief currency of Japan is the Japanese yen, symbolized by "¥" and denoted by the currency code "JPY." The yen was first introduced in 1871 as the country's standard currency, aiming to modernize Japan's economy during the Meiji Restoration. Managed by the Bank of Japan, the yen is one of the most traded currencies globally and is known for its stability and relatively low inflation rates. The yen also plays an important role in international finance, with many countries holding it as part of their foreign exchange reserves.