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Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment such as gift cards. For example, ''five euros'' is the denomination of a five-euro note. Subunit and super unit In a currency, there is usually a main unit (base) 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 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 subunit useless. A prominent example is the Japanese yen, which was formerly divided into 100 sen or 1000 rin. Both subunits were dem ...
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Currencies On White Background
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term " ...
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Iranian Rial
The rial ( fa, ریال ایران, riyâl-è Irân; sign: ﷼; abbreviation: Rl (singular) and Rls (plural) or IR in Latin; ISO code: IRR) is the official currency of Iran. There is no official symbol for the currency but the Iranian standard ISIRI 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it. The Unicode Standard has a compatibility character defined . A proposal has been agreed to by the Iranian parliament to drop four zeros, by replacing the rial with a new currency called the toman, the name of a previous Iranian currency, at the rate of 1 toman = 10,000 rials. History The rial was first introduced in 1798 as a coin worth 1,250 dinars or one-eighth of a '' toman''. In 1825, the rial ceased to be issued, with the qiran subdivided into 20 shahi or 1,000 dinars and was worth one-tenth of a toman, being is ...
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Malagasy Ariary
The ariary (sign: Ar; ISO 4217 code MGA) is the currency of Madagascar. It is notionally subdivided into 5 '' iraimbilanja'' and is one of only two non-decimal currencies currently circulating (the other is the ''Mauritanian ouguiya''). The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary (from the Spanish word " real") being the name for a silver dollar. Iraimbilanja means literally "one iron weight" and was the name of an old coin worth of an ariary. However, as of 2021 the unit is effectively obsolete, since one iraimbilanja is worth less than US$0.005 and the coins have fallen into disuse. History The ariary was introduced in 1961. It was equal to 5 Malagasy francs. Coins and banknotes were issued denominated in both francs and ariary, with the sub-unit of the ariary, the ''iraimbilanja'', worth of an ariary and therefore equal to the franc. The ariary replaced the franc as the official currency of Madagascar on January 1, 2005. Coins and ba ...
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Integer
An integer is the number zero (), a positive natural number (, , , etc.) or a negative integer with a minus sign ( −1, −2, −3, etc.). The negative numbers are the additive inverses of the corresponding positive numbers. In the language of mathematics, the set of integers is often denoted by the boldface or blackboard bold \mathbb. The set of natural numbers \mathbb is a subset of \mathbb, which in turn is a subset of the set of all rational numbers \mathbb, itself a subset of the real numbers \mathbb. Like the natural numbers, \mathbb is countably infinite. An integer may be regarded as a real number that can be written without a fractional component. For example, 21, 4, 0, and −2048 are integers, while 9.75, , and  are not. The integers form the smallest group and the smallest ring containing the natural numbers. In algebraic number theory, the integers are sometimes qualified as rational integers to distinguish them from the more general algebraic in ...
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Kreuzer
The Kreuzer (), in English usually kreutzer ( ), was a coin and unit of currency in the southern German states prior to the introduction of the German gold mark in 1871/73, and in Austria and Switzerland. After 1760 it was made of copper. In south Germany the ''kreuzer'' was typically worth 4 ''pfennigs'' and there were 60 ''kreuzers'' to a ''gulden''. Early history The ''kreuzer'' goes back to a '' groschen'' coin minted in Merano in South Tyrol in 1271 (the so-called ''Etscher Kreuzer''). Because of the double cross (German: ''Kreuz'') on the face of the coin, it was soon given the name ''Kreuzer''. It spread in the 15th and 16th centuries throughout the south of the German-speaking area. The Imperial Coinage Act of 1551 made them the unit for small silver coins. In 1559 a value of 60 ''kreuzer'' to 1 ''gulden'' had been adopted throughout the southern states of the Holy Roman Empire, but the northern German states declined to join, and used '' groschen'' instead of ''kr ...
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South German Gulden
The South German Gulden was the currency of the states of southern Germany between 1754 and 1873. These states included Bavaria, Baden, Württemberg, Frankfurt and Hohenzollern. It was divided into 60 kreuzer, with each kreuzer worth 4 pfennig or 8 heller. History This specific ''Gulden'' was based on the '' Gulden'' or ''florin'' used in the Holy Roman Empire during the Late Middle Ages and Early Modern period. The ''Gulden'' first emerged as a common currency of the Holy Roman Empire after the 1524 ''Reichsmünzordnung'' in the form of the ''Guldengroschen''.Shaw (1896), p. 364: Imperial Mint Ordinance of 1524 defines a silver piece = 1 Rhenish gold gulden. On p 363: the silver equivalent of the guld gulden... received the name gulden groschen. In the succeeding centuries the ''Gulden'' was then defined as a fraction of the ''Reichsthaler'' specie or silver coin. As of 1690 the ''Gulden'' used in Southern Germany and the Austrian Empire adhered to the Leipzig standar ...
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Non-decimal Currencies
A non-decimal currency is a currency that has sub-units that are a non-decimal fraction of the main unit, i.e. the number of sub-units in a main unit is not a power of 10. Historically, most currencies were non-decimal, though today virtually all are now decimal. Contemporary situation Today, only two countries have non-decimal currencies: Mauritania, where 1 ouguiya = 5 khoums, and Madagascar, where 1 ariary = 5 iraimbilanja. However, these are only theoretically non-decimal, as in both cases the value of each sub-unit is too small to be of any practical use and coins of sub-unit denominations are no longer used. The official currency of the Sovereign Military Order of Malta, which retains its claims of sovereignty under international law and has been granted permanent observer status at the United Nations, is the Maltese scudo, which is subdivided into 12 tarì, each of 20 grani with 6 piccioli to the grano. All other contemporary currencies are either decimal or have no ...
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Exponentiation
Exponentiation is a mathematical operation, written as , involving two numbers, the '' base'' and the ''exponent'' or ''power'' , and pronounced as " (raised) to the (power of) ". When is a positive integer, exponentiation corresponds to repeated multiplication of the base: that is, is the product of multiplying bases: b^n = \underbrace_. The exponent is usually shown as a superscript to the right of the base. In that case, is called "''b'' raised to the ''n''th power", "''b'' (raised) to the power of ''n''", "the ''n''th power of ''b''", "''b'' to the ''n''th power", or most briefly as "''b'' to the ''n''th". Starting from the basic fact stated above that, for any positive integer n, b^n is n occurrences of b all multiplied by each other, several other properties of exponentiation directly follow. In particular: \begin b^ & = \underbrace_ \\ ex& = \underbrace_ \times \underbrace_ \\ ex& = b^n \times b^m \end In other words, when multiplying a base raised to one ...
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Decimal Currency
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are to a power of 10, most commonly 100, and exceptionally 1000; and sometimes at the same time changing the name of the currency or the conversion rate to the new currency. Today, only two countries have non-decimal currencies: Mauritania, where 1 ouguiya = 5 khoums, and Madagascar, where 1 ariary = 5 iraimbilanja. However, these are only theoretically non-decimal, as, in both cases, the value of the main unit is so low that the sub-units are too small to be of any practical use and coins of the sub-units are no longer used. Russia was the first country to convert to a decimal currency when it decimalised under Tsar Peter the Great in 1704, resulting in ...
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Indian Numbering System
The Indian numbering system is used in all South Asian countries (Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka and Afghanistan) to express large numbers. The terms ''lakh'' or 1,00,000 (one hundred thousand, written as ''100,000'' outside India) and ''crore'' or 1,00,00,000 (ten million written as ''10,000,000'' outside India) are the most commonly used terms in Indian English to express large numbers in the system, while Pakistani English groups the numbers in international format (10,000,000) but still using the same terms as India. The Indian system The Indian numbering system corresponds to the Western system for the zeroth through fourth powers of ten: one (100), ten (101), one hundred (102), one thousand (103), and ten thousand (104). For higher powers of ten, the names no longer correspond. In the Indian system, the next powers of ten are called one lakh, ten lakh, one crore, ten crore, one arab (or one hundred crore), and so on; there are new wor ...
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Crore
A crore (; abbreviated cr) denotes ten million (10,000,000 or 107 in scientific notation) and is equal to 100 lakh in the Indian numbering system. It is written as 1,00,00,000 with the local 2,2,3 style of digit group separators (one lakh is equal to one hundred thousand, and is written as 1,00,000). It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka. It is often used in Bangladeshi, Indian, Pakistani, and Sri Lankan English. Money Large amounts of money in Bangladesh, India, Nepal, and Pakistan are often written in terms of ''Koti'' or ''crore''. For example (one hundred and fifty million) is written as "fifteen ''crore'' rupees", "15 crore" or "". In the abbreviated form, usage such as "15 cr" (for "15 ''crore'' rupees") is common. Trillions (in the short scale) of money are often written or spoken of in terms of ''lakh crore''. For example, ''one trillion rupees'' is equiva ...
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Lakh
A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For example, in India, 150,000 rupees becomes 1.5 ''lakh'' rupees, written as 1,50,000 or INR 1,50,000. It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka. It is often used in Bangladeshi, Indian, Pakistani, and Sri Lankan English. Usage In Indian English, the word is used both as an attributive and non-attributive noun with either an unmarked or marked ("-s") plural, respectively. For example: "1 ''lakh'' people"; "''lakhs'' of people"; "20 ''lakh'' rupees"; "''lakhs'' of rupees". In the abbreviated form, usage such as "5L" or "5 lac" (for "5 ''lakh'' rupees") is common. In this system of numeration, 100 ''lakh'' is called one ''crore'' and is eq ...
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