Definition, Meaning & Synonyms
currency-unit
noun
/ˈkɜrənsi juːnɪt/
Definition
A currency unit is a standard monetary unit that signifies the value of a specific currency.
Examples
- The dollar is a well-known currency unit used in many countries.
- In the exchange market, different currency units are compared to determine their value against one another.
- When traveling internationally, it’s important to understand the local currency unit to make purchases.
Meaning
It represents the smallest denomination of currency that can be used as a medium of exchange.
Synonyms
- monetary unit
- currency denomination
- payment unit
