Comments on: Why is japanese currency is so big? http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/ Discussion of Forex Trading and Currency Trading Sat, 19 May 2012 13:01:45 +0000 http://wordpress.org/?v=2.3.3 By: Whats up? http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4756 Whats up? Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4756 It's Effin' Arbitrary. Doesn't mean anything. It's Effin' Arbitrary. Doesn't mean anything.

]]> By: thecheapest902 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4757 thecheapest902 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4757 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. 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.

]]> By: lolzimjapanese http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4758 lolzimjapanese Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4758 well 1000000 is like $10000.00 that is only a rough estimatebut ya 99 yen = 99 cents 100 yen = 1 dollar well 1000000 is like $10000.00 that is only a rough estimatebut ya

99 yen = 99 cents

100 yen = 1 dollar

]]> By: Akiko http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4759 Akiko Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4759 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. 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.

]]> By: area52 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4760 area52 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4760 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. 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.

]]> By: mikan http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4761 mikan Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4761 actually,i think that the japanese currency is not that expensive. but the things in japan are :/ but japan is a nice country :) actually,i think that the japanese currency is not that expensive. but the things in japan are :/ but japan is a nice country :)

]]> By: Orangeaporange http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4762 Orangeaporange Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/why-is-japanese-currency-is-so-big/#comment-4762 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! 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!

]]>