

They were removed by the New Currency Act of 1871, and the yen was introduced as the new acceptable decimal currency. It was designed based on the European Decimal Monetary System.īefore the Meiji Restoration, all the feudal fiefs of Japan issued their own currency, Hansatsu, in a collection of inconsistent denominations. The idea of the yen was part of the modernization policy of Japan’s economy formed by the Meiji government during the late 19 th century, which asserted the adoption of a common currency throughout the world.

