What's the story behind Zimbabwe using the Japanese yen?

Zimbabwe is not going to use the Japanese Yen. Rumours have circulated that Zimbabwe would adopt the Chinese RMBs but as of now, Zimbabwe is using US dollars, and bond coins which were introduced to reduce cash shortages, esp changed money in smaller denominations. read more

Both Chinese and Japanese use the same symbol ¥ (called the Yen Sign in Unicode) for their currencies. The reason is essentially because Japan adopted this and many other elements of China’s relatively advanced civilization, including its writing system. read more

In a roundabout way, the yen will also go where the Chinese economy goes, as any further complications in the economic situation in China will likely cause more carry trade unwinding and a stronger yen at a time when the Bank of Japan (BOJ) is targeting precisely the opposite — a weaker yen. read more