メルバ先生 英文記事紹介 No.71
In modern times yen is the currency of Japan and is the third world's most traded currency. It is use to trade with other currency like Australian Dollar and the US Dollar because of its low interest rates.The word Yen (which means 'circle' or 'round object') was created in 1871. In early times in Japan,the currency system used coins made of silver and gold called as the Wado Kaichin and began to be minted in 708 but when its demand decreases it was being changed to Toraisen and Shichusen, entered circulation from the 14th to 16th century.
Every country has its curency but there is what we call currency war.Currency war, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a particular currency falls so too does the real price of exports from the country. Imports become more expensive. So domestic industry, and thus employment, receives a boost in demand from both domestic and foreign markets. However, the price increase for imports can harm citizens' purchasing power. The policy can also trigger retaliatory action by other countries which in turn can lead to a general decline in international trade, harming all countries.