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In page Japanese yen:

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The name yen derives from the Japanese word 圓 (en; [eɴ]; lit. 'round'), which borrows its phonetic reading from Chinese yuan, similar to North Korean won and South Korean won. Originally, the Chinese had traded silver in mass called sycees, and when Spanish and Mexican silver coins arrived from the Philippines, the Chinese called them "silver rounds" (Chinese: 銀圓; pinyin: yínyuán) for their circular shapes.[1] The coins and the name also appeared in Japan. While the Chinese eventually replaced 圆; 圓 with 元,[a] the Japanese continued to use the same word, which was given the shinjitai form 円 in reforms at the end of World War II.[citation needed]