monetary unit


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monetary unit

one of the units of CURRENCY used in a country as the basis of payments and lending and borrowing transactions. The units of currency used in the UK, for example, are pounds and pence, while in the USA they are the dollar and cent. The monetary units of different countries are related to each other for INTERNATIONAL TRADE and INVESTMENT purposes through their EXCHANGE RATE values.

monetary unit

the standard unit of CURRENCY that forms the basis of a country's domestic MONEY SUPPLY, e.g. the pound (UK), or dollar (USA). The monetary units of countries are related to each other for international trade and investment purposes through their EXCHANGE RATE values. See MONEY.
References in periodicals archive ?
It is this feature of the monetary unit that permits the isolation of time preference to be expressed in inter-temporal trade.
After taking over the power by British rulers, Sri Lanka was introduced British pound as the valid monetary unit and historical evidence denotes that first batch of treasury notes for exchanging purpose were issued in 1927 cancelling the Rid Dollar unit, which had been widely using in Sri Lanka before the introduction of British pound.
A "dollar" derives from the Spanish milled dollar, which was proposed as America's monetary unit by Thomas Jefferson, adopted as such by the Continental Congress, and then designated the standard of value in the Constitution (Article I, Section 9, Clause 1) and the Bill of Rights (the Seventh Amendment).
Auditors should be aware, however, that the auditing literature often mistakenly identifies the monetary unit as the sampling unit.
WHILST it is far too early to decide whether the euro - the European monetary unit - has been a success or not, the early signs are encouraging.
There are certain elements (or monetary elements) where the monetary unit has two different functions: a unit of measure and a measure of payment.
While the adverse effects of shocks to the financial sector can never be eliminated, their disruptive influence can be minimized if monetary authorities continue to provide a stable monetary unit.
Every additional monetary unit created-whether by gold miner, the
Other factors indicating the need for a common monetary unit are high currency exchange and transaction costs, hedging costs, and the recurring turbulence in the foreign exchange markets.
The euro is a new monetary unit that, second to the U.
The euro is the monetary unit of European Monetary Union (EMU) and will be launched on Jan.
For example, many companies are promising future upgrades designed to be Y2K-compliant or able to handle European monetary unit transactions.