Cent (currency)
|
|
In currency, the cent is a monetary unit that equals <math>1/100<math>th of the basic unit of value. It also refers to the coin which is worth one cent. In the United States and Canada, a common nickame of the 1¢ coin is penny, plural pennies. (In the United Kingdom the name of the one pence coin is also penny.)
Etymologically, the word cent derives from the Latin word centum which means hundred. Mints all over the world usually create coins with values ranging from <math>1/100<math>th to <math>100/100<math>th of the monetary unit, while reserving banknotes for higher values. However, coins with a <math>200/100<math>th or <math>500/100<math>th value are not uncommon, especially in cases of commemorative coinage.
Cent amounts between 1 and 99 cents are usually indicated by the one or two digits followed by a lower-case letter c (1c, 2c), or by a cent sign which is usually pierced top to bottom by a forward slash or a vertical line: ¢ (e.g., 1¢, 2¢).
Other monetary unit subdivision systems are possible, such as the old pound sterling, which until decimalisation in 1970 was subdivided into <math>1/20<math>ths (shillings - s) and <math>1/240<math>ths (old pence - d).
Examples of currencies around the world featuring cents are:
- Argentine peso - divided into 100 centavos
- Australian dollar - divided into 100 cents
- Brazilian real - divided into 100 centavos
- Canadian dollar - divided into 100 cents
- Chinese renminbi - divided into 10 jiao, which are also divided into 10 fen; a jiao would be equivalent to a dime while a fen would be equivalent to a cent
- European Monetary Union euro - the coins bear the text EURO CENT; actual usage varies depending on language. Greek coins have "ΛΕΠΤΟ" ("lepto") on the obverse of the 1c coin and "ΛΕΠΤΑ" ("lepta") on the obverse of the others.
- Iranian rial - divided into 100 dinars, although no longer in use due to devaluation
- Malaysian ringgit - divided into 100 sen
- Mexican peso - divided into 100 centavos
- New Zealand dollar - divided into 100 cents
- Philippine peso (piso) - divided into 100 centavos (sentimos)
- Russian ruble - divided into 100 kopeks
- South African rand - divided into 100 cents
- United States dollar - divided into 100 cents
Examples of currencies which do not feature cents
- Japanese yen - the yen in modern times doesn't feature any subdivision of the monetary unit
- Chilean peso - was divided into 100 cents until 1984. Since then, the peso doesn't feature any subdivisions
- Kuwaiti dinar - divided into 1000 fils
- Mauritanian Ouguiya - divided into 5 khoums
- Malagasy ariary - divided into 5 iraimbilanja
- Vietnamese dong - No longer subdivided