Generic term for pounds/pence or euro/cents wanted
Paul Moloney
Is there a generic for:
* The component of a currency that comes before the decimal point
* The component of a currecny that comes after the decimal point?
As in the sentence:
"Pounds and dollars are examples of ________ while pences and
cents are examples of _______"?
Thanks,
P.
Sebastian Hew
> As in the sentence:
>
> "Pounds and dollars are examples of ________ while pences and
> cents are examples of _______"?
Pences?
Sebastian.
Irwell
>Hi there,
>
>Is there a generic for:
>
>* The component of a currency that comes before the decimal point
>* The component of a currecny that comes after the decimal point?
>
>As in the sentence:
>
>"Pounds and dollars are examples of UNITS OF CURRENCY_______ while pences and
>cents are examples of DIVISIONS OF CURRENCY UNITS_______"?
>
>Thanks,
>
>P.
Jerry
"Paul Moloney" <paul_m...@hotmail.com> wrote in message
news:b917d6bd.02103...@posting.google.com...
pounds and dollars are unit currency (units of currency)
pences and cents are fractions (of a unit)
You can go even lower and get fractional cents eg where you buy 10 for a
penny.
Donna Richoux
Denominating currency? Where's Garry? The financial world will have a
name for this.
--
Best -- Donna Richoux
Paul Moloney
> pounds and dollars are unit currency (units of currency)
>
> pences and cents are fractions (of a unit)
So something like:
* unit currency
* fractional currency
would be correct?
Thanks for all the answers,
P.
Mike Lyle
Would "small change" be too imprecise for low-value coins? "Low-value coins"?
Mike.
Garry J. Vass
news:1fkxguy.4tsc3c1g4t8tmN%tr...@euronet.nl...
Pounds and dollars are examples of sovereign currencies.
In manifest, pounds are notes, while dollars are bills. Pence and cents are
simply coins that represent fractional units of their currencies. In the
strictest sense, coins do not carry the backing of their sovereign entity to
make good on their extrinsic value (or their intrinsic value for that
matter).
In fact, both the Royal Mint and the Federal Reserve have capped the amounts
for which coins can be used as legal tender. If memory serves, the US cent
is capped at USD 25, and the UK pence is capped at GBP 2.
As an interesting side-note, both pence and cents are further divided into
units called "pips". 100 pips = 1 cent, and so on. The etymology of "pip"
in this sense is reported to come from gambling and dates back to the 17th
century.
And finally, for reasons that are mystifying to me (who is of Scottish
extract and wears highland kit to formal events), I always try to pass off
Scottish notes to the next person as quickly as I can.
Kind regards,
GJV
M. J. Powell
<ga...@totally-official.com> writes
>And finally, for reasons that are mystifying to me (who is of Scottish
>extract and wears highland kit to formal events), I always try to pass off
>Scottish notes to the next person as quickly as I can.
Snap!
Mike
--
M.J.Powell
tomca...@yanospamhoo.com
> As an interesting side-note, both pence and cents are further divided into
> units called "pips". 100 pips = 1 cent, and so on. The etymology of "pip"
> in this sense is reported to come from gambling and dates back to the 17th
> century.
Is US money divided into pips? Anyone who clips coupons knows that
1 cent = 10 mills, but I've never seen anything with the cash value of a pip.
Garry J. Vass
news:as04fj$daa$6...@news1.radix.net...
Yes, all of the G7 currencies are divided into pips, which is the smallest
coin divided by 100. Non-G7 currencies are handled differently. Here's an
extract from the Bloomberg Dictionary...
Pip. 1) Dealer's term for the minimum price change in floating foreign
exchange
rates. For example, a quoted price of 1.7814 to 1.7815 is equal to one pip
as
well as a quoted price of 120.40 to 120.41. 2) Philippine peso.