Plaza Accord
The origins of endaka began in 1971 with the Smithsonian Agreement. The term was coined with the first usage in 1985 during the Plaza Accord, in which the yen was revalued sharply overnight. However, its use in the context of recession was first used in 1992, when Japan's economy slowed down, and again in 1995, when the yen hit its then-postwar high of 79 to the dollar.