Many elements are capable of representing the country's history and culture. Historical monuments, food, clothing, physical characteristics and socializing habits, following the idea that the people make the government. Now another prominent element is the money local.
The very choice of currency says a lot about a country's history, such as the events that led to its appointment as a government's monetary base, whether it replaced any previous currency, and even this exchange model was institutionalized by your country.
Disputes and historical issues between different countries are capable of interfering in the power of one currency over another, reflecting on their economies, their trade relations with other markets, among other topics.
Therefore, important issues for large companies and investors, who operate in the stock market and depend on forecasting the economic situation of different countries and nations, can define a positive investment for your company or industry.
In addition to the giants, these economic transactions are also important for you end consumers, who browse international websites in search of the best price and discount.
Importing a dress into China or buying parts for a industrial mixer, with your supplier in Europe, depends on the relationship between the Brazilian currency and the money used in these locations, which may make this acquisition more expensive or cheaper.
Following the changes in history, new coins emerge, replacing outdated models, as others remain strong, seeking to represent the legacy and prestige of this money with the traditional and cultural heritage of a country.
It is a contrasting relationship that can be seen between the Brazilian and Japanese currency. While the Real has been in circulation for less than 30 years, being adopted to regularize the Brazilian economy due to the period of inflation, the Yen is a little older.
A distance greater than a century separates them in the case.
The History of Japanese Currency
After the great circulation of silver coins in Southeast Asia, resulting from the flow between trades, using the so-called Spanish dollar, the Japanese government decided to establish its own currency, the Yen.
Adopted in 1871, with a name that symbolizes a round object, the coin has undergone transformations in terms of materials and design, but in a general context, the same money used in transactions during the period of wars is used today.
Both in negotiations in the electronic sector, which has become one of the largest markets in the country, and in the import of gluten free products used in Japanese cuisine.
Currently, the Japanese monetary system works with notes and coins, which use lower cost materials compared to their original manufacture. If before, yen coins were made of silver, today, the base material for this production is aluminum.
The only exception ends up being commemorative coins, such as those produced for the Tokyo Olympic Games, which featured silver and gold decorations. Using less valuable inputs helps in inventory and cash control of the economy as a whole.
Currently, the cells in circulation in the country are one thousand, two thousand, five thousand and ten thousand yen, which adopt the symbol (¥). The ¥2,000 banknotes, launched in July 2000, are out of this traditional pattern, and for that reason they are almost not found, being denied in trades.
The banknotes have unique features, such as strategies to prevent counterfeit banknotes from circulating among Japanese markets.
Some of these aspects are:
- Low relief printing to make copying difficult;
- Holograms that change according to angle;
- Hidden images, which also appear at certain angles;
- Microprint of the Bank of Japan name.
Even with its evolution, Japanese money still shows the traditional legacy of the Japanese people, which is reflected in the relationship that the population has with the local financial system.
Japanese financial education
Much is said today about the need to teach financial education in schools, teaching the population from a young age on how to deal with their finances and savings, as well as recognizing the importance of a accounting consultancy for your company.
From the little ones to the older ones, knowing in depth about economics techniques and financial strategies can change a person's life, ensuring a greater probability of success for their projects.
Both those looking to open a business, and those looking to save their wages, to take a family trip during the children's vacation. The little ones also want to see their allowance pay off.
The Japanese people are already used to this kind of discipline, which is naturally transmitted to the way they handle money. And all this determination is realized through a small object, known as kakebo.
The kakebo, whose name can be translated into something like an account book for the household economy, has a clear function, like that described by its title, acting as a kind of financial diary.
With an origin dating back to 1904, it is believed that the conception of kakebo was given to Hani Motoko, considered the first female journalist in Japan. family economy.
Especially those who lost their husbands in the war and now need to take care of their families. Seen as a revolutionary tool, for inducing the freedom and responsibility of these women with money, kakebo is now common in the country.
Like a notebook, it is possible to write down the expenses of a family, as well as the importance of each of these expenses, allowing the owner of the small book to better manage their expenses and needs.
If companies search for "financial management outsourcing” on the internet, to find the best company to carry out this type of work, in Japan, this type of management is passed on to everyone through the local culture.
Therefore, the paper diary was replaced by applications and computer programs when adapting to current technological means, but its financial aid function remains the same.
This respectful relationship with the Japanese monetary system takes place even through its link with local banknotes.
Curiosity about Japanese money
Physical money has been gaining a strong competitor with digital transactions, causing a payroll advice perform their services without even using a single sheet of paper, dealing only with a computerized system.
However, banknotes are still responsible for a large part of the circulation of money in the world, and in Japan this role is more carefully compared to other parts of the world.
In the country, the circulation of banknotes is produced and controlled by Nippon Ginko, the Bank of Japan. Located in the Nihombashi business district in Chūō, Tokyo, this financial institution works with a frequent renewal of this money.
In Japan, damaged banknotes are transferred back to the bank through commercial organizations. Thus, these banknotes undergo a recycling process, resulting in products such as:
- Housing materials;
- Solid fuel;
- Office supplies;
- Toilet paper.
When the banknotes are badly damaged, they then proceed to the incineration process. What makes a farmer in search of agricultural credit, after having the deal approved, receive a brand new set of notes to put into circulation.
Also because a ¥10,000 note lasts about 4 to 5 years, as well as notes with a lower value perish in a similarly reduced period, from 1 to 2 years.
In addition to commercial institutions, the exchange of old banknotes can also be done by the population. The exchange value, however, is equivalent to the quality of the banknote, which can be a full value, half or non-fulfillment, if the note is significantly impaired.
Another curiosity is that the production of the yen costs more than the value of a unit yen, but because it is a large-scale production, the costs end up being reduced in relation to a large quantity.
The yen is a currency with long circulation time, in addition to being a money of great influence in the world, being even a reference currency for the economy of other Asian countries, such as Vietnam, Laos and Cambodia.
After becoming a major technology exporter, the yen also started to receive attention for those who work with the import of electronic devices, thus being an important currency for those who make the property security of this sector.
Therefore, it is for reasons such as this that the yen remains one of the most traditional currencies in the world, as it represents an economy that adapts, as well as its people, to new historical events, without ever leaving its traditional past to one side.
This text was originally developed by the blog team Investment Guide, where you can find hundreds of informative content on different segments.