Banknotes of 5000 denomination in different currencies including Franc, Yen, Lire,and Dollar

Denomination is a proper description of a currency amount, usually for coins or banknotes. A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is main - title Coin keywords numismatics coin review A banknote (often known as a bill, paper money or simply a note) is a kind of Negotiable instrument, a Promissory note made by a Denominations may also be used with other means of payment like gift cards. Scrip is any Substitute for Currency which is not Legal tender and is often a form of credit.

## Subunit and super unit

In a currency system, there is usually a main unit (base), and a subunit that is a fraction amount of the main unit. In Mathematics, a fraction (from the Latin fractus, broken is a concept of a proportional relation between an object part and the object In some countries, there are multiple levels of subunits. In the Ottoman Empire, 1 lira = 100 kuruş = 4000 para = 12000 akçe. The Ottoman Empire (1299–1923 ( Old Ottoman Turkish: دولتْ علیّه عثمانیّه Devlet-i Âliye-yi Osmâniyye, Late Ottoman and Modern Turkish Kuruş (derived from the German Groschen; Ottoman Turkish: غروش gurûş) is a Turkish currency subunit A Silver Coin, the akçe was the chief monetary unit of the Ottoman Empire. Today, only a few places use this practice, notably Chinese speaking regions: mainland China (renminbi), Hong Kong (Hong Kong dollar), and Republic of China (New Taiwan dollar). Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term synonymous with the area that is under the jurisdiction Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders REPUBLIC OF CHINA ARTICLE GUIDELINES The New Taiwan dollar ( ( Currency code TWD and common abbreviation NT$) or simply Taiwan dollar, is the official Currency of the In addition, Jordanian dinar is divided into 10 dirham, 100 qirsh/piastres, or 1000 fils. The dinar ( ISO 4217 code JOD; unofficially known as JD) is the currency of Jordan. Many countries today where Western European languages are spoken have their main units divided into 100 cents or derivatives of the word cent. Western Europe at its most general meaning means 'all the countries in the West of Europe ' In many national currencies, the cent is a monetary unit that equals 1/100 of the basic monetary unit Occasionally, a super unit is used as multiples of the main unit. Examples include Korean whan = 5 yang in 1893, Iranian toman 10 rials (used informally today). Korea is a geographic area composed of two sovereign countries a civilization and a former state situated on the Korean Peninsula in East Asia. The yang (양/兩 was the currency of Korea between 1892 and 1902 The toman (تومان in Persian, pronounced) is a superunit of the official currency Rial. The rial (ریال in Persian; ISO 4217 code IRR) is the currency of Iran. In the Ottoman Empire, lira and kuruş were super units at some point before becoming the main unit. The Ottoman Empire (1299–1923 ( Old Ottoman Turkish: دولتْ علیّه عثمانیّه Devlet-i Âliye-yi Osmâniyye, Late Ottoman and Modern Turkish ## Decimal v. s non-decimal A decimal currency is a currency where the ratio between the main unit and the subunit is an integral power of 10. In the management of currencies, decimalisation (or decimalization) is the process of converting from traditional denominations to a " Decimal " Non-decimal currencies have the advantage in daily life transactions. A non-decimal currency is one which has sub-units that are a non-decimal fraction of the main unit For example, 1 South German Gulden = 60 Kreuzer. The Gulden was the currency of the states of southern Germany between 1754 and 1873 The Kreuzer, in English usually kreutzer, was a silver coin and unit of currency existing in the Southern German states prior to the unification 60 Kreuzer can be divided into 2, 3, 4, 5, or 6 parts that are still integers, making pricing easy. The integers (from the Latin integer, literally "untouched" hence "whole" the word entire comes from the same origin but via French The underlining difference is that 60 has a higher density of divisors (1260 = 20%) than 100 (9100 = 9%). In Mathematics, a divisor of an Integer n, also called a factor of n, is an integer which evenly divides n without The main reason why many currencies before modern times were non-decimal is because the main units at that time were often quite large and computers were not invented yet. A computer is a Machine that manipulates data according to a list of instructions. ## Choice of name It is common to name a unit with a unit of weight, such as pound, lira, and baht. The pound, a unit of currency originated in England as the value of a pound mass of Silver. Etymology The word Libra developed its Lira shape from Italian, a language famed for its loss of initial consonants in two-part clusters (ie These currencies are usually originally defined as that amount of some precious metal. Precious Metal is the eighteenth episode in the of the popular American Crime drama, which is set in Las Vegas, Nevada. Another choice of name is some form of derivative of the political entity. Afghan afghani and euro fall into this category. This article refers to the currency For other uses see Afghani. Please update other articles as well to avoid contradiction within Wikipedia e Sometimes the name is simply the name of the metal, of which the coins are made, such as Polish złoty and Vietnamese đồng. The złoty (/ˈzwɔtɨ/, plural for numbers ending in 2 3 and 4 (except 12 13 and 14 złote /ˈzwɔtɛ/ plural for all other numbers złotych /ˈzwɔtɨx/ The đồng (IPA dɔŋ ( sign: ₫; code: VND) is the Currency of Vietnam since May 3, 1978 ## Redenomination ### Inflationary Due to inflation, the same amount of monetary units have continuously decreasing purchasing power. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time Purchasing power is the amount of value of a good/services compared to the amount paid with a Currency. In other words, prices of the same products or services must be expressed in higher numbers. When prices reach a certain point, the high numbers can impede the well being of daily transactions because of the risk and inconvenience of carrying stacks of bills, strain on systems, e. g. , automatic teller machines (ATMs), and because human psychology does not handle large numbers well. Psychology (from Greek grc ψῡχή psȳkhē, "breath life soul" and grc -λογία -logia) is an Academic and To address this problem, authorities can alleviate it through the process of redenomination. Redenomination is the process where a new unit replaces the old unit with a certain ratio. If inflation is the reason for redenomination, this ratio is some number larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million. Recent examples include New unit=xOld unityear Revalued Zimbabwean dollar=1000old dollars2006 New Mozambican metical=1000old meticais2006 This table is not exhaustive. The dollar is the Currency of Zimbabwe. It is subdivided into 100 cents. The metical (plural meticais) is the Currency of Mozambique, abbreviated with the symbol MZN or MTn. Although the ratio is often a positive integral power of 10, sometimes it can be a×10n where a is a single digit integer and n is a positive integer. Partial examples include New unit=xOld unityear Chinese "gold" yuan=3 millionold yuan1948 Chinese "silver" yuan=500 million"gold" yuan1949 New Taiwan dollar=40,000old dollars1949 Azerbaijani new manat=5000old manat2006 This table is not exhaustive. The New Taiwan dollar ( ( Currency code TWD and common abbreviation NT$) or simply Taiwan dollar, is the official Currency of the The Old Taiwan dollar (舊臺幣 or 舊台幣 sometimes called Old Taiwan yuan, was the Currency of Taiwan, Republic of China from The manat ( currency code: AZN is the Currency of Azerbaijan.

Occasionally, the ratio is defined in a way such that the new unit is equal to a hard currency. Hard currency or strong currency, in Economics refers to a globally traded Currency that can serve as a reliable and stable Store of value. As a result, the ratio cannot be a nice even numbers. Examples include

New unit=xOld unit=Anchor currencyyear
Brazilian real=2750cruzeiro reais=United States dollar1994
Yugoslav novi dinar=10~13 million1994 dinara=German mark24 January 1994
This table is not exhaustive. The real (meaning "royal" ɹeˈal in English, [xe{{IPA|ˈ}}aw] in Brazilian Portuguese) ( sign: R$; code: The cruzeiro real (\mathrm{CRS}\!\!\!\Vert plural cruzeiros reais) was the short-lived Currency of Brazil between 1st August 1993 The United States dollar ( sign:$; code: USD) is the unit of Currency of the United States; it has also been The dinar ( Cyrillic script: динар was the Currency of the three Yugoslav states the Kingdom of Yugoslavia (formerly the Kingdom Events 41 - Gaius Caesar (Caligula, known for his eccentricity and cruel Despotism, is Assassinated by his disgruntled Year 1994 ( MCMXCIV) was a Common year starting on Saturday (link will display full 1994 Gregorian calendar)

In the case of hyperinflation, the ratio can go as high as millions or billions, to a point where scientific notation is used for clarity or long and short scales are mentioned to disambiguate what kind of billion/trillion is meant. Certain figures in this article use Scientific notation for readability Scientific notation, also sometimes known as standard form or as exponential notation, is a way of writing numbers that accommodates values too large or small to be The long and short scales are two different numerical systems used throughout the world Short scale is the English translation of the French

In the case of chronic inflation or regular inflation, the authorities have a choice: a large redenomination ratio or a small redenomination ratio. Chronic inflation is characterized by much higher price increases than ordinary Inflation, at annual rates of 10% to 30% in some Industrialized nations and even 100% When using a small ratio, more redenomination processes must be carried out in the long run. And each occurrence incurs costs of productivity in the financial, accounting, and computing industry. As a result, small ratio has the disadvantage of more cost associated to the changeover. However, the period of prices with large number can be shortened with a small ratio.

During a redenomination process, the new unit is often the same as the old unit, with the addition of the word "new". The word "new" may or may not be dropped a few years after the change. Sometimes the new unit is a completely new name, or a "recycled" name from previous redenomination or from ancient times.

New unit=xOld unityearNature of the new unit
Turkish new lira=1 millionold lira2005"new" is an official designation and will be dropped in 2009
New Taiwan dollar=40,000old dollars1949"new" is an official designation and is still used in official documents today
Argentine austral=1,000Peso argentino1985completely new name
Yugoslav 1993 dinar=1 million1992 dinara1993no official designation
Brazilian real=2750cruzeiro reais1994recycled unit of Brazil before 1942
This table is not exhaustive. The new lira (yeni türk lirası is the Currency of Turkey. The de facto independent state of the Turkish Republic of Northern Cyprus also The Lira ( Turkish Türk lirası or TL) was the currency of Turkey until 2005 The New Taiwan dollar ( ( Currency code TWD and common abbreviation NT$) or simply Taiwan dollar, is the official Currency of the The Old Taiwan dollar (舊臺幣 or 舊台幣 sometimes called Old Taiwan yuan, was the Currency of Taiwan, Republic of China from The austral was the currency of Argentina between June 15, 1985 and December 31, 1991. The peso argentino was the currency of Argentina between June 6, 1983 and June 14, 1985. The dinar ( Cyrillic script: динар was the Currency of the three Yugoslav states the Kingdom of Yugoslavia (formerly the Kingdom The real (meaning "royal" ɹeˈal in English, [xe{{IPA|ˈ}}aw] in Brazilian Portuguese) ( sign: R$; code: The cruzeiro real (\mathrm{CRS}\!\!\!\Vert plural cruzeiros reais) was the short-lived Currency of Brazil between 1st August 1993

### Monetary union

When countries form a monetary union, redenomination may be required and the conversion ratio is often not a nice even number, or even less than 1.

New unit=xOld unityearMonetary union
Austro-Hungarian krone=0. The Krone or korona ( Österreichisch-ungarische Krone ( German) or osztrák-magyar korona Hungarian) was the official currency 5gulden/forint1892Latin Monetary Union
euro=0. The Gulden or forint (Österreichisch-ungarische Gulden or osztrák-magyar forint was the Currency of the Austro-Hungarian Empire between 1754 and The Latin Monetary Union ( LMU) was a 19th century attempt to unify several European currencies into a single currency that could be Please update other articles as well to avoid contradiction within Wikipedia e 787564Irish pound1999/2002Eurozone
euro=40. The Irish pound ( English) or punt Éireannach ( Irish) was the Currency of Ireland until 2002 Euro Enlargement of the Please update other articles as well to avoid contradiction within Wikipedia e 3399Belgian or Luxembourgian francs1999/2002Eurozone
This table is not exhaustive. The franc ( Dutch: frank - French: franc - German: Franken) was the currency of Belgium until 2002 when the The franc ( French, Frang Franken was the Currency of Luxembourg between 1854 and 1999 (except during the period 1941 and 1944 Euro Enlargement of the

### Decimalisation

In many countries where an £sd system (£1 = 20 shillings = 240 pence) is used, the process of decimalisation was carried out. £sd (pronounced and sometimes written Lsd) was the popular name for the pre-decimal currencies ( sterling) used in the United Kingdom and The shilling is a unit of Currency used in current and former Commonwealth countries and was continued to be used in countries that left the commonwealth A penny (pl pence or pennies) is a Coin or a unit of Currency used in several English -speaking countries In the management of currencies, decimalisation (or decimalization) is the process of converting from traditional denominations to a " Decimal " While they were at it, some chose to change the main unit as well. By defining 1 dollar = £0. 5 = 100 cents, 1 shilling would conveniently turn into 10 cents. In many national currencies, the cent is a monetary unit that equals 1/100 of the basic monetary unit This is also a prime example where the ratio is less than 1.

New unit=xOld unityear
German gold mark=1/3Vereinsthaler1873
(New) Penny=2. The Goldmark (officially just Mark) is the name used for the currency of the German Empire from 1873 to 1914 The Vereinsthaler ("union" thaler was a standard Silver Coin used in most German states and the Austrian Empire in the years prior The penny sterling (plural pence) is a subdivision of Pound sterling, the currency for the United Kingdom. 4Penny1971
South African rand=0. The rand ( sign: R; code: ZAR) is the Currency of South Africa. 5South African pound1961
Australian dollar=0. The pound was the currency of South Africa between 1825 and 1961. The Australian dollar ( sign: $; code: AUD) is the Currency of the Commonwealth of Australia, including Christmas 5Australian pound1966 New Zealand dollar=0. The pound was the currency of Australia until 1966 It was subdivided into 20 Shillings each of 12 pence. The New Zealand dollar ( sign:$; code: NZD) is the Currency of New Zealand. 5New Zealand pound1967
This table is not exhaustive. The pound was the currency of New Zealand between 1840 and 1967

### Book keeping

When redenomination occurs, financial data that spans across the change must be presented with proper annotation. Otherwise, the data could give the illusion of astronomical change. For example, the GDP reported by the Central Bank of Nicaragua is properly documented.

### List of currency redenominations

See also: Remonetisation. Remonetisation is the restoration of some commodity such as silver or coins or bank notes that are not money as money

This is the list of currency redenominations that has happened so far in the world, including currency renaming where the exchange rate is 1:1.

To view the chronology of redenominations of a particular country: 1) Press sorting button of column Year 2) Press button of Country.

New unit =Exchange rate× Old unitYearCountryCauseNote
Chinese "silver" yuan 500,000,000"gold" yuan1949Chinainflation
Yugoslav novi dinar 10~13 million1994 dinara1994YugoslaviainflationAnchor currency: German mark
Chinese "gold" yuan 3,000,000(old) yuan1948Chinainflation
Yugoslav 1993 dinar 1,000,0001992 dinara1993Yugoslaviainflationno official designation
Turkish new lira 1,000,000Turkish lira2005Turkeyinflation"new" is an official designation and will be dropped in 2009
Hryvnia 100,000Karbovanets (third)1996Ukraineinflation
New Taiwan dollar 40,000Taiwan dollars1949Taiwaninflation"new" is an official designation and is still used in official documents today
Peso argentino 10,000Peso ley1983Argentinainflation
Peso (convertible) 10,000Austral1992Argentinainflation
Polish złoty 10,000Polish złoty1995Polandinflation
Azerbaijani new manat 5,000(old) manat2006Azerbaijaninflation
Real 2,750Cruzeiro real1994BrazilinflationAnchor currency: United States dollar
Cruzeiro (antigo) 1,000Real (old)1942Brazilinflation
Cruzeiro (novo) 1,000Cruzeiro (antigo)1967Brazilinflation
Austral 1,000Peso argentino1985Argentinainflation
Cruzeiro real 1,000Cruzeiro (third)1993Brazilinflation
Revalued Zimbabwean dollar 1,000(old) dollar2006Zimbabweinflation
New Mozambican metical 1,000(old) meticais2006Mozambicueinflation
euro 239. 640Slovenian tolar2006Sloveniamonetary unionEurozone
Peso ley 100Peso moneda nacional1970Argentinainflation
euro 40. 3399Belgian or Luxembourgian francs2002Belgium Luxembourgmonetary unionEurozone
Peso moneda nacional 25Peso moneda corriente1881Argentinainflation