The Yen was made the official currency of Japan during the Meiji era. It was the third most traded currency in the foreign exchange market after the United States dollar and the euro. It was also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling. The concept of the yen was a component of the Meiji government's modernization program of Japan's economy, which postulated the pursuit of a uniform currency throughout the country, modeled after the European decimal currency system.
In 1992 a treaty established the EEC. Zones of Control and Protective Tariffs regulated the activities of the member nations (France, United Germany, Britain, Japan, and Italy). A common currency unit (The Eurodollar, Eb) was then established.
However just 10 years after the the EEC was established, Japan was removed in early 2015. That same year the Japanese government had planned so that a new form of currency that was based on the original Yen would be available. They established the 'New Yen' currency to counter the Eurodollar. The New Yen wasn't much different than the Yen prior, and kept the same theme and style as the last. New Yen is very common and popularly used in Asia.