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base info Reserve Rights

Reserve Rights to Japanese Yen Converter and calculator

Convert 1Reserve Rights (RSR) to Japanese Yen (JPY) equals ¥ 1.02 | Bitget
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Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter offers real-time exchange rates, allowing for easy conversion of Reserve Rights(RSR) to Japanese Yen(JPY). This is the real-time data. The current conversion shows 1 RSR at a value of 1 RSR for 1.02 JPY . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

JPY information

About the Japanese Yen (JPY)

What Is the Japanese Yen (JPY)?

The Japanese Yen, abbreviated as JPY, is the national currency of Japan. The symbol for the Japanese Yen is "¥", which is used to denote the currency in international financial transactions. The yen's introduction in 1871 was a significant part of Japan's modernization policy under the Meiji government, aligning with the European Decimal Monetary System. The Japanese Yen is the sole legal tender in Japan, and it is used for all transactions within the country.

The Japanese Yen is issued by the Bank of Japan (BOJ), which is the central bank of Japan. Established in 1882, the Bank of Japan is responsible for issuing and managing the country's currency and monetary policy. It plays a crucial role in the Japanese financial system, including controlling the money supply, setting interest rates, and ensuring the stability of the Japanese financial system.

What Is the History of JPY?

The yen replaced a diverse range of currencies issued by feudal fiefs, known as Hansatsu, following the New Currency Act of 1871. This change was part of Japan's transition from a collection of feudal fiefs to a unified, modern state. The Bank of Japan, established in 1882, eventually took over the issuance of currency, marking a significant step in centralizing and stabilizing Japan's monetary system.

Notes and Coins of JPY

The Japanese Yen includes coins like the lightweight 1 Yen, the lucky 5 Yen with a hole, the 10 Yen featuring Byodo-in Temple, the 50 Yen, the commonly used 100 Yen with cherry blossoms, and the highest value 500 Yen coin. Banknotes comprise the 1,000 Yen with Hideyo Noguchi, the less common 2,000 Yen depicting a scene from "The Tale of Genji," the 5,000 Yen featuring writer Ichiyo Higuchi, and the highest 10,000 Yen note with Yukichi Fukuzawa. These currencies reflect Japan's culture, history, and natural beauty.

Current Status and Global Standing

As of 2024, the Japanese yen was recognized as one of the top-performing currencies, with projections indicating its potential to surpass the US dollar in terms of strength. JPY also holds the distinction of being the third most traded currency in the forex market, following the US dollar and the euro. It also serves as a commonly used reserve currency alongside the USD, euro, and pound sterling. Factors contributing to this include liquidity from Japan's central bank, government spending, and global demand for Japanese exports. The yen's appreciation is often attributed to the strengthening of the US dollar and the growth of the Japanese economy.

Bank of Japan's Monetary Policy

The Bank of Japan maintains a near-zero interest rate policy, historically aligning with Japan's strict anti-inflation stance. Post the 2008 Global Financial Crisis, Japan faced a period of deflation. In response, in 2013, the Bank of Japan announced an expansion of its Asset Acquisition Policy by $1.4 trillion over two years, aiming to shift from deflation to a target inflation rate of 2%. This policy intended to double the money supply, reflecting a significant shift in Japan's monetary approach.

What Is Digital Yen?

The Digital Yen, or DCJPY, is a Japanese yen-backed digital currency set to launch in July 2024. Developed by DeCurret Holdings, the DCJPY ecosystem will feature two distinct blockchain networks: the "Business Zone'' for issuing user assets, including digital assets and non-fungible tokens (NFTs), and the "Financial Zone" for banks to mint deposits as digital assets. This initiative aligns with the vision of Hiromi Yamaoka, chairperson of the Digital Currency Forum, who believes that digital currencies will play a central role in the future economic development and welfare by enhancing the functions of information and data processing. The DCJPY is designed to coexist with a central bank digital currency (CBDC), marking a significant step in Japan's embrace of digital financial technology.

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Bitget crypto-to-fiat exchange data shows that the most popular Reserve Rights currency pair is the RSR to JPY, with for Reserve Rights's currency code being RSR. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for JPY.

RSR to JPY conversion rate trend

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In the past 1D, Reserve Rights has changed +10.56% to JPY. Based on the trend and price charts, Reserve Rights(RSR) has changed +10.56% to JPY while Japanese Yen(JPY) has changed % to RSR in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
¥1.02
0.0001% / 0.0004%vip-iconVIP
Binance
¥1.02
0.1000% / 0.1000%
Yes
OKX
¥1.02
0.080% / 0.100%
Yes
Huobi
¥1.02
0.1000% / 0.1000%
Yes
Gate.io
¥1.02
0.1000% / 0.1000%
Yes
KuCoin
¥1.02
0.1000% / 0.1000%
Yes
Last updated 2024/04/21 09:00:30(UTC+0)

What factors influence the conversion rate of Reserve Rights to Japanese Yen?

Reserve Rights to Japanese Yen is rising this week.
Reserve Rights's current market price is ¥ 1.02 per RSR, with a total market cap of ¥ 51,553,600,417.02 JPY based on a circulating supply of 50,600,000,000 RSR. The trading volume of Reserve Rights has changed by +91.55% (¥ 1,679,211,038.59 JPY) in the last 24 hours. Last trading day, RSR's trading volume was ¥ 1,834,251,114.
Market cap
$333.41M
24h volume
$22.72M
Circulating supply
50.60B RSR

Conversion tables

The exchange rate of Reserve Rights is decreasing.
1 RSR is currently valued at ¥ 1.02 JPY , which means buying 5 RSR will cost ¥ 5.09 JPY . Similarly, ¥1 JPY can be traded for 0.9815 RSR, and ¥50 JPY can be converted to 49.08 RSR, excluding any platform or gas fees.
The exchange rate of 1 RSR to Japanese Yen has changed by +6.69% in the last 7 days. In the last 24 hours, the rate has fluctuated by +10.56%, reaching a high of 1.06 JPY and a low of 0.9140 JPY . One month ago, the value of 1 RSR was ¥ 1.28 JPY , which represents a -20.18% change from its current value. Over the last year, Reserve Rights has changed by
+¥
0.4292JPY
, resulting in a change of +72.77% in its value.

RSR to JPY

Amount
09:34 am today
0.5 RSR
¥0.5094
1 RSR
¥1.02
5 RSR
¥5.09
10 RSR
¥10.19
50 RSR
¥50.94
100 RSR
¥101.88
500 RSR
¥509.42
1000 RSR
¥1,018.85

JPY to RSR

Amount09:34 am today
0.5JPY0.4908  RSR
1JPY0.9815  RSR
5JPY4.91  RSR
10JPY9.82  RSR
50JPY49.08  RSR
100JPY98.15  RSR
500JPY490.75  RSR
1000JPY981.5  RSR
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Today vs. 24 hours ago

Amount09:34 am today24 hours ago24h change
0.5 RSR$0.003295$0.002980
+10.56%
1 RSR$0.006589$0.005960
+10.56%
5 RSR$0.03295$0.02980
+10.56%
10 RSR$0.06589$0.05960
+10.56%
50 RSR$0.3295$0.2980
+10.56%
100 RSR$0.6589$0.5960
+10.56%
500 RSR$3.29$2.98
+10.56%
1000 RSR$6.59$5.96
+10.56%

Today vs. 1 month ago

Amount09:34 am today1 month ago1M change
0.5 RSR$0.003295$0.004128
-20.18%
1 RSR$0.006589$0.008255
-20.18%
5 RSR$0.03295$0.04128
-20.18%
10 RSR$0.06589$0.08255
-20.18%
50 RSR$0.3295$0.4128
-20.18%
100 RSR$0.6589$0.8255
-20.18%
500 RSR$3.29$4.13
-20.18%
1000 RSR$6.59$8.26
-20.18%

Today vs. 1 year ago

Amount09:34 am today1 year ago1Y change
0.5 RSR$0.003295$0.001907
+72.77%
1 RSR$0.006589$0.003814
+72.77%
5 RSR$0.03295$0.01907
+72.77%
10 RSR$0.06589$0.03814
+72.77%
50 RSR$0.3295$0.1907
+72.77%
100 RSR$0.6589$0.3814
+72.77%
500 RSR$3.29$1.91
+72.77%
1000 RSR$6.59$3.81
+72.77%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.