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JPY / BGN
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Mar 19, 8:12:00 AM UTC · Disclaimer
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The yen is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as 1.5 g of gold, or 24.26 g of silver, and divided decimally into 100 sen or 1,000 rin. The yen replaced the previous Tokugawa coinage as well as the various hansatsu paper currencies issued by feudal han. The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II, the yen lost much of its prewar value. To stabilize the Japanese economy, the exchange rate of the yen was fixed at ¥360 per US$ as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$ in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per US$ by 1980. Wikipedia
The lev is the currency of Bulgaria. In old Bulgarian, the word "lev" meant "lion"; the word "lion" in the modern language is lаv. The lev is divided in 100 stotinki. Stotinka in Bulgarian means "a hundredth" and in fact is a translation of the French term "centime." Grammatically, the word "stotinka" comes from the word "sto". Since 1997, the lev has been in a currency board arrangement with initially the Deutsche Mark at a fixed rate of BGL 1000 to DEM 1. After the introduction of the euro and the redenomination of the lev in 1999, this has resulted in a fixed rate to the euro of BGN 1.95583: EUR 1. Since 2020, the lev has been a part of the European Exchange Rate Mechanism. When all the conditions are met, Bulgaria is supposed to join the Eurozone by 1 January 2025. In November 2023, Bulgarian euro coin design has been revealed and approved by the Bulgarian National Bank. Wikipedia
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