If you’ve ever traveled around Japan, you’re probably familiar with the yen symbol (¥). But in today’s interconnected world, you don’t need to visit Japan to see this currency in use. Online shopping, the world of finance, and even anime are just a few areas where the yen sign is common.
The yen has a long history, and today it represents Japan on the global stage. As the country’s official currency, it plays a key role in everything from tourism and technology to international business and more.
At Remitly, we understand the importance of global currencies, which is why we’ve created this simple guide to the history, significance, and everyday uses of the Japanese yen.
What is the yen symbol, and why does it matter?
Before we dive deeper into the yen’s long and storied past, let’s break down the basics first.
The yen symbol (¥) represents the Japanese legal tender, and you’ll often see it used standalone in various contexts. However, you might also spot the three-letter code “JPY”, designated by the International Organization for Standardization (ISO). The ISO maintains a comprehensive list of currency codes to easily show how money is flowing through countries worldwide.
How it’s used
Both the ¥ symbol and the “JPY” code are recognized and used locally and globally in price tags, bank transfers, financial documents, and investment transactions. They are a guaranteed way for everyone to quickly identify that a given amount is in Japanese yen and not some other currency, say the United States Dollar (USD) or the South Korean Won (KRW).
Visually, the ¥ symbol looks like a capital Y with two horizontal bars through the middle, or stem. Like the dollar sign ($), it appears right before the number. If you find yourself dining in Japan or shopping on a Japanese website, you might see prices written as ¥2,500 instead of “2,500 yen.”
The yen symbol and global finance
As one of the world’s most traded currencies, the yen is a key player in the global financial market. It’s a symbol of stability and safe investment, offering a “safe haven” for investors looking to take advantage of Japan’s strong economy and ultra-low interest rates.
Even if you’re not trading directly, recognizing the ¥ symbol can help you understand global economic headlines. Like the US dollar, the yen fluctuates in response to world events and market trends. Expanding your knowledge of different currencies and their symbols will enhance your understanding of the world, especially if you plan to travel or relocate abroad.
A brief history of the yen symbol
The yen officially debuted at the end of the Meiji era as Japan began adopting Western financial systems for international trade. In 1882, the Bank of Japan was established with a capital of ¥10 million JPY.
These funds have continued to grow over time, strengthening the Japanese economy while also making it a significant financial player on the global stage. Today, the yen is the third most traded currency in the world, after the US dollar and the euro.
From 円 to ¥: the difference between yen symbol variations
Like any language, words and symbols evolve over time. In Japanese, “円” means “circle”, a reference to the round shape of coins. When Japan modernized its currency system in the late 19th century, the symbol 円 became ¥, and the new national currency, the yen, was born.
As the country opened up to international trade, the need for a universally recognizable currency symbol grew. The yen sign (¥) was easy to remember and distinguish from other currencies, and today, it’s become well-known as both a currency and a cultural symbol.
How to type the yen symbol: easy shortcuts for every device
It used to take months to ship anything from Japan. But we can now easily shop on Japanese websites, purchase products in Japanese yen using our US credit cards, and have our package delivered by the end of the week.
In today’s digital world, it’s quite common to use different currency symbols when conducting business online. And while we’re accustomed to seeing the ¥ sign, we don’t always know how to type it when making transactions.
Luckily, different devices have different shortcuts for writing the Japanese currency symbol. Here’s a quick reference table to help you easily write the yen sign, no matter the device:
| Device/system | Shortcut keys | Notes |
| Windows | Alt + 0165 or Alt + 157 | Press and hold the Alt key, type the corresponding number code, and then release the Alt key. |
| macOS | Option + Y | When using a US Mac keyboard, this shortcut works across many apps and programs, including Word.
For this shortcut, the Caps Lock key must be off. If it’s on, it will produce a different symbol. |
| iPhone | Hold down the $ sign and choose ¥ | Currency signs will appear for you to select when you hold down the $ sign. |
| Android | Press !#? key and find the ¥ sign | Key symbols may vary across different Android devices. |
Many systems today use international keyboards, so you can easily access different symbols, accents, and characters. On macOS, for instance, you can have multiple keyboards linked to your device, allowing you to easily switch between them when needed.
Where you’ll see the yen symbol in everyday life
You don’t have to be in Japan to come across the ¥ sign: there are plenty of other places to encounter it in person or online. And if you are planning a trip or even an international move across the Pacific, it’s never a bad idea to prepare for immersing yourself in a new country and culture.
Let’s take a look at the most common places you’ll find the ¥ sign.
Every day shopping in yen
In Japan, prices are often listed with the now widely recognized ¥ symbol, but you’ll also see the 円 sign just as frequently on menus and price tags. They may read as:
- ¥500
- 500円
Both mean the same thing: 500 Japanese yen. Understanding this will lead to less confusion while traveling or even just shopping from the comfort of your home.
Japanese online retailers like Rakuten, Uniqlo Japan, or Amazon Japan display prices in yen. Travelers booking hotels or trains through Japanese sites can also benefit from recognizing these symbols.
In banking, transactions, and statements
If you’re an expat in Japan or simply visiting, you’ll see the ¥ sign when withdrawing money from the ATM. You could also find it on bank statements, in debit or credit transactions, and in currency conversion rates.
Financial media
The yen plays a massive role in financial trade. It became a floating currency in 1973, meaning the forces of supply and demand set its value on the foreign exchange market, rather than it being fixed to another currency.
Since then, it has maintained its strength for over 50 years, even with global fluctuations. That’s due to the Bank of Japan reducing interest rates over time and the Japanese government implementing measures to mitigate signs of a recession. Plus, as a leading exporter of goods, the country’s currency reserves are held in banks worldwide, helping prop up Japan’s economy during difficult times.
With the yen being so strong, financial news outlets like Nasdaq, Reuters, and Bloomberg regularly report and feature the ¥ symbol in their publications.
Using the yen symbol when sending money abroad
Sending money abroad is quite common these days. Remittances to loved ones or even to yourself often require handling cash in different currencies. Many nations have similar names and symbols for their currencies. Australia and the US are examples of two countries that use the dollar sign ($) and refer to their currency as “dollars.”
Yen vs yuan
In China, the national currency is the renminbi. However, while the renminbi refers to the currency in China as a whole, the yuan is its basic unit.
The yuan shares the same sound and symbol as the yen. So, how can you differentiate them? Check the standardized ISO codes.
- China: CNY or CN¥
- Japan: JPY
Keeping currency similarities in mind will help you when sending money internationally, not only to ensure you’re using the correct currency but also to verify the accurate exchange rates.
For first-time senders
If it’s your first time sending money abroad or to Japan, using trusted service providers like Remitly can help you complete the transaction quickly and securely.
Before making your first money transfer, keep these tips in mind:
- Select Japanese yen (JPY) as the destination currency.
- Double-check that the amount displays the ¥ sign.
- Keep your receipts and other records to track currency rate changes and for tax purposes.
Also, remember that exchange rates are constantly changing. Tomorrow, the rate could look very different, affecting how much you can send.
Yen: more than just a currency symbol
The ¥ sign is recognized worldwide. It’s not just a symbol of the Japanese currency, but of its rich culture and history. Being able to identify the yen sign and recognizing what makes it unique will help you avoid currency mix-ups while shopping, investing, or sending money abroad.
Familiarizing yourself with different currencies can open up new worlds, whether you’re a traveler, a financial guru, or someone simply interested in learning more about the world.
Want to learn more about world currencies or international money transfers? Check out our blog for more!
FAQs
How do I know if a ¥ price means Japanese yen or Chinese yuan?
If you’re unsure whether you’re using the correct ¥ symbol, check the country code. If you’re sending money to Japan, you’ll see “JPY,” and for China, “CPY” or “CP¥.”
Can I use the yen symbol when writing prices in English?
Yes, you can write ¥5,000 or ¥5,000 JPY if you want to make it clear that the price is in Japanese yen.
Do I need to use the yen symbol when sending money online?
Yes. If you’re sending money abroad to Japan, double-checking the yen symbol (¥) and the country code (JPY) will ensure your transfer goes through correctly.
How important is the yen in the global finance market?
The Japanese yen (¥) is the third-most traded currency in the world after the US dollar and the euro, making it an important player in global finance.