HomeJPY / KHR • Currency
Follow
JPY / KHR
Previous close
26.13
Market news
About Japanese Yen
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. WikipediaAbout Cambodian riel
The riel is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system. A second currency, also named "riel", has been issued since 20 March 1980. Since the late 1990s, the riel has had an unofficial fixed exchange rate of 4,100:1 with United States dollar, Cambodia's second de facto currency for commercial transactions.
Popular belief suggests that the name of the currency comes from the Mekong river fish riĕl. It is more likely that it derives from the high-silver content Spanish-American dollar, whose value is eight reales, a coin widely used for international trade in Asia and the Americas from the 16th to 19th centuries. Wikipedia