monetary unit

  

Definition

Currency unit (such as the dollar, euro, peso, rupee) issued as a coin or banknote, and used as a standard unit of value and a unit of account. A monetary unit may be issued in several denominations which are multiples (such as $1, $5, $10, etc.) or fractions (such as ¢1, ¢5, ¢10, etc.) of the basic unit.

Use monetary unit in a sentence

  • You need to figure out what monetary unit will be best to use when doing business with anyone from another country.

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  • When you create your table of monetary units, remember to include the denomination and currency type, such as euros or rupees.

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  • I was told what a monetary unit was and I was surprised because I did not realize that I had so many.

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