Because for example 1,000,000 yen is how much in US dollar?
then if $1,000,000, how much it is in yen?
then 100 yen is $1? Am I right? Explain it to me please!
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June 23rd, 2008 at 9:02 am
It's Effin' Arbitrary. Doesn't mean anything.
June 23rd, 2008 at 9:02 am
USD has cent as sub currency unit while Japanese yen does not have anything like that. That's why.
The lowest monetary unit is 1 cent in US and 1 yen in Japan.
It's $1=103 yen now. But roughly,we can say that $1=100 yen.
So 1M yen is about $10K and $1M is 100M yen.
June 23rd, 2008 at 9:02 am
well 1000000 is like $10000.00 that is only a rough estimatebut ya
99 yen = 99 cents
100 yen = 1 dollar
June 23rd, 2008 at 9:02 am
1,000,000 yen = about $ 9,671
$1,000,000 = about 103,350,000 yen
100 yen = about $0.97
I suppose Japanese currency (yen) is so big because it has not been re-denominated for a long time.
June 23rd, 2008 at 9:02 am
As a matter of fact, this issue has been discussed for the past few decades. For foreign exchange purposes, it may be more convenient to redenominate 100 yen to 1 yen, which makes 1 yen almost equivalent to one USD more or less.
In reality, re-denomination is not an easy task for a variety of reasons in Japan.
1) Yen has been used as Japan's unit currency since 1871; re-denomination of yen would cause a tremendous social confusion.
2) In order to re-denominate yen, a sub currency unit needs to be created, which requires the government of Japan to renew all the bills and coins, and quickly recollect old currencies throughout the nation, which is technically impossible.
3) It is totally inconceivable that the nation would allow the government to spend a huge amount of tax payers' money for something that would not produce anything except for making foreign exchange a little bit easier.
June 23rd, 2008 at 9:02 am
actually,i think that the japanese currency is not that expensive. but the things in japan are :/ but japan is a nice country
June 23rd, 2008 at 9:02 am
Yes you are correct, one yen is approximately a penny.
Japan is not the only country where currency is big by US standards. Korean won is even worse! 1000 won is about a dollar there!