10,000 yen note
The 10,000 yen note (1万円紙幣 "1Man-en shihei") is the largest banknote denomination of the Japanese yen. The front side of the 10,000 yen note includes a portrait of Yukichi Fukuzawa, a Meiji era philosopher and the founder of Keio University. The back of the note shows a drawing of the Hōō (, Fenghuang) in the Hall of the Phoenix, Byōdō-in.
Japanese yen
Since 1973, the Japanese government has maintained a policy of currency intervention, and the yen is therefore under a "dirty float" regime. This intervention continues to this day. The Japanese government focuses on a competitive export market, and tries to ensure a low yen value through a trade surplus. The Plaza Accord of 1985 temporarily changed this situation from its average of ¥239 per US$1 in 1985 to ¥128 in 1988 and led to a peak value of ¥80 against the U.S. dollar in 1995, effectively increasing the value of Japan’s GDP to almost that of the United States. Since that time, however, the yen has greatly decreased in value. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has previously had an extreme anti-inflation policy.