The Japanese Yen is the official currency of Japan, symbolized by ¥. It is one of the most traded currencies in the world, often used as a benchmark for the Asian economy. The yen is subdivided into smaller units called sen, although sen coins are no longer in circulation. The currency was first introduced in 1871 and has since become a key player in global finance. The Bank of Japan is responsible for issuing and regulating the yen, ensuring its stability and value in international markets. The yen is also commonly used as a reserve currency by many countries.