The name of the Japanese currency Why the Yen?
近代的貨幣制度の立役者・大隈重信。2024年から流通する新しい一万円札の顔に渋沢栄一が選ばれました。その渋沢と終生友情を保ち続けた早稲田大学創立者・大隈重信は、「円」という通貨の誕生に大きく関わっています。2019年度の創立記念特集は、「円」を通じて私たちの生活、さらには日本経済・世界経済の根底に息付いている大隈の功績を振り返ります。
新貨幣の名称となった「円」は、丸い形状から中国において「銀圓（円）」と称されたメキシコドル銀貨、および香港造幣局の「一圓(えん)銀貨」に由来すると考えられる。ちなみに中国の貨幣「元」の本来の名称は「圓」であり、今日の人民元紙幣にもそのように記されている。
(English) Shigenobu Okuma, the driving force behind the modern monetary system. Eiichi Shibusawa has been chosen as the face of the new 10,000 yen bill circulated in 2024. The founder of Waseda University, Shigenobu Okuma, who maintained a lifelong friendship with Shibusawa, was extensively involved in creating the yen currency. The 2019 founding commemorative unique feature looks back on the achievements of Okuma, who has been at the root of our lives and the Japanese and global economies through the Yen.The name "yen'', which became the name of the new currency, is thought to be derived from the Mexican dollar silver coin, which was called "silver yuan (yen)'' in China because of its round shape, and the "one-yen silver coin'' of the Hong Kong Mint. By the way, the original name of the Chinese currency, "GEN (Yuan)", was "EN (Yuan)", and it is written as such on today's RMB banknotes.
The name of the Japanese currency Why the yen?
A)
The Japanese currency was born in 1871. In the Meiji era, the national isolation policy was abolished, and at that time, the unit was changed to "yen". There are several theories as to why it was called the yen. The most influential is that Shigenobu Okuma, finance minister at the time, called Western money in China "yen silver", and Japanese cash is represented by making a circle (ring) with a finger. It is said that it was named.
Another theory is that the coins are round.
Alternatively, the unit of silver coins used in China was the "yen", which was brought from China.
B)
Why write YEN?
When writing "yen" in the alphabet, it is usually spelt "YEN". However, if you write "en" as it is written in romaji, it becomes "EN". But why do we use this way of writing? There are three theories.
The first is that when foreigners pronounce "EN", it sounds more like "in" than "en". This is said to be the case.
The second is that "EN" existed in Dutch, Spanish and French to distinguish it from other words.
The third is that 1-yen silver coins circulated in East Asia. In southern China, the yuan was initially called "yen", so it was thought it would replace the Mexican dollar used there.
C)
Summary
As for the origin of the name "yen", it is believed that Shigenobu Okuma named it "yen" for various reasons.
The reason why it is written as YEN is as follows.
1) Because it is easy for foreigners to pronounce.
2) To distinguish it from other words
3) Because they wanted to promote it in East Asia.
The name of the Japanese currency Why the Yen?
https://contest.japias.jp/tqj20/200334R/menu2-japan-meiji2.html
Why is Japan's currency the "yen"? Shigenobu Okuma and the new 10,000-yen note, Eiichi Shibusawa [Part 1]
https://www.waseda.jp/inst/weekly/feature/2019/10/21/67340/
Why is Japan's currency the "yen"? Shigenobu Okuma and the new 10,000-yen note, Eiichi Shibusawa [Part 2]
https://www.waseda.jp/inst/weekly/feature/2019/10/21/67375/