Yamataian En

The En (: 圓; symbol: 円) is the official currency of Yamatai, issued by the National Bank of Yamatai. It is the second-most traded currency in Escar behind the Chiseian Woryube. It is also used as a reserve currency by several countries, including Dai Hoa, Hinomoto, Masuka, and Shojin.

Historically, Yamatai had a centralised currency since the formation of the First Empire of Yamatai in the 9th century, mainly in the form of coins in gold, silver, and bronze denominations. In the 12th century, the Imperial Court began issuing banknotes after a major shortage of precious metals in the Naichi archipelago. Decline of the Yamataian government in the 14th century led to the devaluation of the central currency and the rise of various independent regional and provincial currencies issued by feudal lords, which extended into the subsequent period of Hinoan rule.

After the Second Yamataian Civil War and the restoration of the Imperial Court's control over Yamatai, currency reforms were carried out in 1720 to impose a centralised and uniform national currency. The National Bank of Yamatai was also founded as part of the governmental reforms, replacing the old Imperial Treasury and placed in charge of issuing the new central currency. This currency project is commonly known as the New En, a period generally held to have lasted between 1720 and 1952. The New En was backed in gold, with an initial exchange of 1 ' of gold (roughly 600g) to 500 En, or 2.5 ' (roughly 9.4 kg) of silver. Coins of the New En were minted in low-value metals and banknotes were commonly issued. The New En was subdivided into 100 Sen, which eventually fell out of use due to high inflation in the 20th century.

During the 19th century and early 20th century, the En was one of the most powerful currencies in the world as Yamatai was a major economic and industrial powerhouse, and was also used throughout the Yamataian colonial empire. However, the En lost much of its value following the Second Escar-Varunan War, and severe hyperinflation plagued the post-war Yamataian economy. In 1952, the Okabe Nariakira regime carried out a major monetary reform and established the Reformed En, which abandoned the gold standard and was allowed to float.

Since then, the Yamataian government has maintained a policy of currency intervention, placing the En under a. The Yamataian government focuses on a competitive export market and attempts to ensure a low exchange rate for the En through a constant trade surplus. The Yamataian government has a strict anti-inflation policy and has been carrying out a monetary easing policy since 2019 to encourage private investments. Between 2021 and 2022, the En suddenly began appreciating at a steady rate, driving fears that Yamatai is entering an economic bubble.

Ancient En
After the unification of Yamatai after the Teigai War in the 8th century, the newly-formed Empire of Yamatai began carrying out administrative reforms influenced by the Hua. A unified currency was created backed by copper, silver, and gold, and came in the form of coins. In the 13th century, the first banknotes were issues due to a shortage of precious metals in the Naichi archipelago.

Old En
Hinoan Yamatai era

New En
Second Empire era.

Reformed En
Revaluation, later rise in value.

Coins
Due to seeing little use, the National Bank of Yamatai has stopped issuing new 円1 coins since 2005.

Banknotes
En banknotes are colour coded by valuation. 円500 notes are green, 円1,000 notes are blue, 円5,000 notes are purple, and 円10,000 notes are gold. This colour scheme was first adopted in 1985. Prior to this, all En banknotes since the introduction of the New En in 1860 were generally printed in a uniform dark purple ink (known colloquially as "Imperial En Purple") on a yellowish linen-paper blend. The current Yamataian banknotes are s made from biaxially oriented polypropylene (BOPP). The En began its transition to polymer notes in 2006 to increase security and durability, and paper notes of the pre-2006 series are increasingly rare.

On 22nd February 2022, new notes were issued for all denominations under the To Series (直列と). Mount Aozora, the tallest mountain in Yamatai and a national symbol of Yamatai, is prominently featured on both sides. The obverse side of the notes display a portrait of Empress Kazuko, and the reverse side of the notes prominently feature artworks by Yamataian artists from throughout Yamataian history, depicting a range of scenes representing all four corners of the Yamataian state.

Even though text on the notes state that the notes are legal tender "in all territories of the Yamataian Empire", the En is not generally accepted in Hinomoto, a self-governing region of Yamatai which uses the Hinoan Kin as its main currency.