Asian currencies: Yen and Shekels

yen

Asian Coins

There is still a long time before we in the world use a single currency, in the style of science fiction films that speak of a united world under a single political and financial system, without geopolitical barriers. Will that ever happen?

In the meantime and even despite some changes or common markets, there are still many currencies. Today we have to speak the yen and the shekel, the currency of Japan and Israel

The Japanese yen

banknotes japan It is the national currency of Japan and one of the most important currencies in the world. The word, if we translate it literally, means Circle o round and it seems that the original currency that inspired the design copied the Mexican peso.

The yen was introduced during the Restoration Meiji, the period in Japanese history that marks the end of feudalism and the return to political life of the emperor after a few hundred years of being overshadowed by the most powerful feudal lords of old Japan.

restoration-meiji

 

The Meiji Restoration also meant the modernization of the country, which is basically seen in the film The last Samurai starring Tom Cruise and having to do with the formation of a modern European-style state.

In these years of profound changes for Japanese society is when the yen arrives to replace the mon, the currency of the previous period, the Edo Period.

It is legally established as a national currency through an act of 1871 and it was necessary for the country to enter the modern system that at that time revolved around the Gold Pattern.

yen-1

What is the Gold Standard? Each national currency issued had its gold backing and this was the case for quite some time, although nowadays that parity is no longer respected. The truth is that from then on the yen entered the game of floating system currencies and of course, all the changes in the financial system have influenced it since that distant 1871 to date.

For the coins are 1, 5, 10, 50, 100 and 500 y the 1, 2, 5 and 10 yen bills. Coins are widely used and the Japanese are always desperate for accounts.

It is a country where the cash, the cash, so although the credit card is present and advances more and more, stores, supermarkets and gastronomic places will always prefer cold and hard cash. Keep this in mind if you are thinking of visiting Japan.

The shekel

old-shekel

It is an ancient name, Akkadian or Hebrew but with roots in ancient Sumeria. In that very distant time its value was directly linked to the weight of wheatSo it is calculated that one shekel was equal to about 180 grams of wheat, more or less. We speak of about XNUMX years before Christ, to get an idea.

shekel-of-israel-1

There were several peoples that used the name and this currency, but instead of being related to the weight of wheat, they were already related to that of gold and silver. Today the country that continues to use the shekel is Israel. Here the name has a great weight and is a symbol for the nation.

new-shekel-bill

Israel has had many coins throughout its short history as a country: Gerah Kurus, Akce, the Palestinian pound, the shekel and the shekel prior to the current one. El shekel, shekel or shekel is the currency of Israel since 1980 and it replaced the Israelite lyre.

coin-of-israel

Five years later this was in turn replaced by the New Shekel, with coins and bills, of course, and with the intention of revitalizing and developing the Israeli economy. Each shekel is divided into 100 agorot (agora in singular).

There are notes of 20, 50, 100 and 200 shekels and coins of 10, 5 and 1 shekel and 50, 10 and 5 agorot. I tell you that if you are thinking of visiting Israel you can enter the country with foreign currency and make the corresponding change in banks, exchange houses, hotels and post offices throughout the country.

shekel-coin

Of course, from the country's own tourism website they advise keep a few dollars or euros because there are very tourist sites that accept this foreign currency directly.

Also, if you have ever traveled you know that you do not have to change all the money at once but little by little, to take advantage of the exchange rates and not lose a penny. In Israel too you can withdraw money from banks if they accept your international credit cards.

ben-gurion-airport

And of course, if you kept some shekels and you are at Ben Gurion International Airport you can exchange them again. A maximum exchange rate of up to US $ 500 or its equivalent in other currencies is accepted.

Y if your currency is the euro you are in luck because although the new shekel is a currency that allowed Israel's economic growth, it is not at the level of the euro so you have an advantage.

Finally, If you are Spanish, do not keep shekels because in Spain you will not be able to change the currency So don't leave Israel without changing everything.

 

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