Monetary Unit


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Monetary Unit

 

the weighed quantity of pure monetized metal that is established as the unit of currency on which the monetary system of a given country is based. Divided into its multiples, the monetary unit converts into a standard of value. Most countries employ the decimal system for such multiples (1 : 10 : 100), but in some countries a quartile system is used (1:2 : 4).

In Russia from 1897 to 1914 the gold ruble contained 0.77423 g of pure gold; a decimal system (1 ruble, 10 kopeks, 1 kopek) was combined with a quartile system (1 ruble, 50 kopeks, 25 kopeks). The gold content of the Soviet ruble since Jan. 1, 1961, has been fixed at 0.987412 g of pure gold.

References in periodicals archive ?
However, current rupee will not support to fulfil the expectations of the nation and this writer considers that changing the monetary unit rupee replacing RIX DOLLAR would definitely support to maintain internationally better valued currency unit in the country, which represents fair international value of Sri Lanka's assets.
Today, it is still possible to find older people, especially in the country, who use monetary units different from the peseta (in the Spanish case).
m) is the taint value for each monetary unit in the line item in error.
How can we speak of a global economy and a global marketplace, and not think in terms of a global monetary unit of account?
The central bank circulated 18 billion afghanis in 2002 when the monetary unit was newly defined.
Aetna needed a system with a global monetary unit capability to automate foreign account reconciliation.
Variants are not allowed The monetary unit is the euro.
In this article, my goal is far less ambitious, and that is to lay out a very practical and politically doable, and even simple, way to define a global monetary unit of account that is closer to a monetary constant than other alternatives now available, such as gold or commodity baskets.
More than five out of ten directors could not name the currency of India, the rupee, nine did not know that the real is the Brazilian monetary unit, and 14 per cent believed vodka, rather than oil, is Russia's main product.
Chronologies show the evolution of each monetary unit, and orthographies summarize the commonly accepted English spelling of the unit names as well as known abbreviations and symbols.
Meanwhile, European Commission President Romano Prodi suggested on 13 May in Copenhagen that the Euro will rally and supplant the dollar as the dominant global monetary unit in the medium term.