Yen

Isn't the yen one of the major currencies of the world? I am
wondering why they still have all the 000? You need 10,000 to make a
$100. Seems kind of odd. Thanks for any and all answers.

" wrote in message
...
Isn't the yen one of the major currencies of the world? I am
wondering why they still have all the 000? You need 10,000 to make a
$100. Seems kind of odd. Thanks for any and all answers.

For the Japanese, their currency earlier in the last century was nearly at
par with the dollar, then hit 2:1 which it was until WWII broke out it began
a downward slide. For many years after WWII it continued down as low as
360:1 against the dollar. In the 1970's it began appreciating in value, and
it pretty much stays within a band of 101-120 against the dollar. It does
get discussed to revalue the yen, but never progresses beyond the planning
stage because of the feared confusion that it would cause.

Just like in the USA where we have dollar stores, they have 100 yen stores.
People are used to the yen's value. The lowest value paper bills are 1000
yen, roughly about $10, and they have a 500 yen coin about $5. Actually
having spent a couple of visits in Japan I found their money very easy to
use and reckon values in.

Now in other countries it is something different, inflation is usually such
that it would render new currencies valueless and it is costly to change
currencies every few years, just look at Brazil, Argentina, recently
Venezuela as examples.

On Mar 12, 6:46 am, "scottishmoney" wrote:
" wrote in message

...

Isn't the yen one of the major currencies of the world? I am
wondering why they still have all the 000? You need 10,000 to make a
$100. Seems kind of odd. Thanks for any and all answers.

For the Japanese, their currency earlier in the last century was nearly at
par with the dollar, then hit 2:1 which it was until WWII broke out it began
a downward slide. For many years after WWII it continued down as low as
360:1 against the dollar. In the 1970's it began appreciating in value, and
it pretty much stays within a band of 101-120 against the dollar. It does
get discussed to revalue the yen, but never progresses beyond the planning
stage because of the feared confusion that it would cause.

Just like in the USA where we have dollar stores, they have 100 yen stores.
People are used to the yen's value. The lowest value paper bills are 1000
yen, roughly about $10, and they have a 500 yen coin about $5. Actually
having spent a couple of visits in Japan I found their money very easy to
use and reckon values in.

Now in other countries it is something different, inflation is usually such
that it would render new currencies valueless and it is costly to change
currencies every few years, just look at Brazil, Argentina, recently
Venezuela as examples.

Thank you very much. You answered my question.

scottishmoney wrote:
" wrote in message
...
Isn't the yen one of the major currencies of the world? I am
wondering why they still have all the 000? You need 10,000 to make a
$100. Seems kind of odd. Thanks for any and all answers.

For the Japanese, their currency earlier in the last century was
nearly at par with the dollar, then hit 2:1 which it was until WWII
broke out it began a downward slide. For many years after WWII it
continued down as low as 360:1 against the dollar. In the 1970's it
began appreciating in value, and it pretty much stays within a band
of 101-120 against the dollar.


When I lived in Japan in 1964-65, the Yen was 360:1. When I moved to Germany two
years later, the Mark was 4:1. Oh for those exchange rates today! :-)


©¿©¬
~
Ed Hendricks

"Ed Hendricks"
When I lived in Japan in 1964-65, the Yen was 360:1. When I moved to
Germany two
years later, the Mark was 4:1. Oh for those exchange rates today! :-)


©¿©¬
~
Ed Hendricks


My father was in Japan just a bit later, and he hoarded change like I do, so
I have a pile of older Japanese change too.

In article " writes:
On Mar 12, 6:46 am, "scottishmoney" wrote:
....
It does
get discussed to revalue the yen, but never progresses beyond the planning
stage because of the feared confusion that it would cause.
....
Now in other countries it is something different, inflation is usually such
that it would render new currencies valueless and it is costly to change
currencies every few years, just look at Brazil, Argentina, recently
Venezuela as examples.

Thank you very much. You answered my question.

It is just a government issue. While Japan does not want to revalue their
currencies, there have been other countries that did revalue while their
currency was just as stable, or nearly as stable (France, Poland, Turkey
perhaps). In France it did indeed lead to confusion, and it appears that
even now there are people that recalculate all amounts they see in euros
back to old francs from before revaluation, i.e. to the currency used
some 40+ years ago. Luckily such confusions have the tendency to die out...
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

On Mar 13, 11:52 am, "Dik T. Winter" wrote:
In article " writes:
On Mar 12, 6:46 am, "scottishmoney" wrote:
...
It does
get discussed to revalue the yen, but never progresses beyond the planning
stage because of the feared confusion that it would cause.
...
Now in other countries it is something different, inflation is usually such
that it would render new currencies valueless and it is costly to change
currencies every few years, just look at Brazil, Argentina, recently
Venezuela as examples.

Thank you very much. You answered my question.

It is just a government issue. While Japan does not want to revalue their
currencies, there have been other countries that did revalue while their
currency was just as stable, or nearly as stable (France, Poland, Turkey
perhaps). In France it did indeed lead to confusion, and it appears that
even now there are people that recalculate all amounts they see in euros
back to old francs from before revaluation, i.e. to the currency used
some 40+ years ago. Luckily such confusions have the tendency to die out...
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland;http://www.cwi.nl/~dik/

I will admitted right off, I have a very low opinion of the French so
that does not surprise me in the least. I was in Paris for 10 hours a
few months ago and I was surprised that all prices on the receipts has
both the euro and French frank. It's been 7/8 years since the euro was
introduced and they still can't figure it out? I would hope the
Japanese are a smarter.

In article " writes:
On Mar 13, 11:52 am, "Dik T. Winter" wrote:
....
It is just a government issue. While Japan does not want to revalue their
currencies, there have been other countries that did revalue while their
currency was just as stable, or nearly as stable (France, Poland, Turkey
perhaps). In France it did indeed lead to confusion, and it appears that
even now there are people that recalculate all amounts they see in euros
back to old francs from before revaluation, i.e. to the currency used
some 40+ years ago. Luckily such confusions have the tendency to die out...

I will admitted right off, I have a very low opinion of the French so
that does not surprise me in the least. I was in Paris for 10 hours a
few months ago and I was surprised that all prices on the receipts has
both the euro and French frank. It's been 7/8 years since the euro was
introduced and they still can't figure it out? I would hope the
Japanese are a smarter.

It is not only the French. I believe that in most euro countries a large
part of the population is *still* recalculating the price in the old
valuta, especially when assessing the actual value (still frequently being
heard on shows: a price of so-and-so many euros that is about so-and-so of
old guldens). And it can take a long time before that is eliminated. In
the UK the change was so drastic (non-decimal to decimal) that people were
forced to change themselves (recalculation it very tedious).
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

On Thu, 13 Mar 2008 09:50:38 -0400, "scottishmoney"
wrote:

"Ed Hendricks"
When I lived in Japan in 1964-65, the Yen was 360:1. When I moved to
Germany two
years later, the Mark was 4:1. Oh for those exchange rates today! :-)


©¿©¬
~
Ed Hendricks


My father was in Japan just a bit later, and he hoarded change like I do, so
I have a pile of older Japanese change too.

A lot of the older 100Y coins are silver. If I did me maths right,
they're worth $1.91 each. Good deal!

Padraic

--
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