The basic unit of currency in Japan is the yen, symbolized by "¥" and represented as JPY in currency codes. Introduced in 1871, the yen has evolved to become one of the world's major currencies, frequently traded in global markets. The term "yen" translates to "circle" in Japanese, indicating the currency's round shape. The yen is subdivided into smaller units called sen, although sen are rarely used in transactions today. The Bank of Japan, the country's central bank, is responsible for issuing yen notes and coins, ensuring stability and integrity in the Japanese monetary system.