JAPANESE YEN AND INTERNATIONAL MONETARY-SYSTEM

The paper discusses the position of Japanese Yen in the International Monetary System and especially in the South-East Asia countries. A significant step on the way towards liberalization and internationalization of Japanese Yen was taken by introducing the process of deregulation of Japanese financial market. After that the share of Japanese Yen as a settlement currency of Japan's export and imports has increased rapidly. The article also describes also the facts that Japanese manufacturers have realized a ''pricing to market strategy''. The future of Japanese Yen will depend on further liberalization of Japanese financial market as well as on political rapprochement between Japan and Asian countries.