DENOMINATION

Denomination

In a currency, there is usually a main unit, and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 kuruş = 4000 para = 12000 akçe. Today, only a few places have more than one subunit, notably Chinese speaking regions: the mainland China, the Hong Kong, and Republic of China's . In addition, the Jordanian dinar is divided into 10 dirham, 100 qirsh/piastres, or 1000 fils. Many countries where Western European languages are spoken currently have their main units divided into 100 subunits. Some currencies that previously had subunits no longer do, because inflation has rendered the ...

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denomination

Noun

  1. The act of naming or designating.
  2. That by which anything is denominated or styled; an epithet; a name, designation, or title; especially, a general name indicating a class of like individuals; a category; as, the denomination of units, or of thousands, or of fourths, or of shillings, or of tons.
  3. A class, or society of individuals, called by the same name; a sect or religious sub-goup; as, a religious denomination.
    She follows the Ahmadiyya denomination of Islam.
  4. A unit in a series of units of weight, money, etc
    What denomination is that money? They are all 50 euro notes.


The above text is a snippet from Wiktionary: denomination
and as such is available under the Creative Commons Attribution/Share-Alike License.

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