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Japanese military currency (日本軍用手票) is the name given to money used by the Japanese armed forces for the purchase of supplies in occupied territories. [1] It was mainly issued in denominations of yen, and subsidiary currency of sen with the exception of the first Sino-Japanese War series.
Japanese military currency (Chinese and Japanese: 日本軍用手票, also 日本軍票 in short) was money issued to the soldiers of the Imperial Japanese Armed Forces as a salary. [ citation needed ] The military yen reached its peak during the Pacific War period, when the Japanese government excessively [ clarification needed ] issued it to ...
Japan participated in World War I from 1914 to 1918 as a member of the Allies/Entente and played an important role against the Imperial German Navy.Politically, the Japanese Empire seized the opportunity to expand its sphere of influence in China, and to gain recognition as a great power in postwar geopolitics.
It is more than a decade since Japan intervened directly in the foreign exchange market and more than two decades since it intervened to support its currency, which it last did during the Asian ...
The Japanese government responded by re-issuing subsidiary currency through a new series in 1882. [8] This new currency only included twenty and fifty sen notes which were hurried through the process. Meiji Tsūhō ten sen notes were eventually suspended from circulation either in March or June 1887 (year 20) leaving no medium of exchange.
In 1946, following the Second World War, Japan removed the old currency (旧円券) and introduced the "New Yen" (新円券). [1] Meanwhile, American occupation forces used a parallel system, called B yen, from 1945 to 1958. Since then, together with the economic expansion of Japan, the yen has become one of the major currencies of the world. [9]
After World War II the United States-administered Okinawa issued a higher-valued currency called the B yen from 1946 to 1958, which was then replaced by the U.S. dollar at the rate of $1 = 120 B yen. Upon the reversion of Okinawa to Japan in 1972 the Japanese yen then replaced the dollar.
The idea of a world currency surfaces regularly in economic discussions — and for good reason. In theory, it could eliminate exchange rates, reduce transaction costs and simplify international ...