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Japan does not remove zeros from its national currency


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Japan does not remove zeros from its national currency

Sept 11, 2021

In 1872, Japan issued its paper currency in denominations ranging from 10 sen (sen) to 100 yen (yen), where 1 yen equals 100 sen. In 1945, Japan issued a 1,000 yen coin. In 1953, Japan abolished banknotes under 1 yen, so there was no longer a single yen note.

In the early 1950s, Japan exchanged notes of less than 50 yen into coins, followed by 50 and 100 yen notes in the late 1950s. In 1957 and 1958 Japan issued the 5,000 yen and 10,000 yen notes.

It is also noted from the above historical narrative that the Japanese yen since its issuance in 1872 has been hit by inflation and its value has decreased at certain times and many zeros were added to it and its monetary mass increased, but the Japanese specialists did not suggest or even think of deleting zeros from their national currency under the pretext of reducing The monetary mass circulating in order to revive the Japanese economy, because they find in this procedure a waste of effort and money, and it opens the doors to many problems. They are indispensable. Instead, they dealt with the issue realistically and logically. mentally.

The Iraqi dinar, in the style of the Japanese yen, was hit by inflation and its value decreased at certain times and many zeros were added to it and its monetary mass increased, but the Iraqi specialists do not act like the Japanese specialists. Iraqi specialists rant from time to time that deleting three zeros from the Iraqi currency to reduce the monetary mass in circulation will revive the Iraqi economy. May the Iraqi specialists follow the example of the Japanese specialists in dealing rationally and logically with Iraq's economic crises so that the Iraqi economy recovers according to the Japanese economy's approach.

The recovery of the Iraqi economy begins with the elimination of corruption and the corrupt, not by deleting the zeros, as the claimants of Iraqi experience and conception utter.

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