Timeline for Is there a generally accepted term for fractions of Currency Units?
Current License: CC BY-SA 3.0
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| Apr 13, 2017 at 12:25 | history | edited | CommunityBot |
replaced http://money.stackexchange.com/ with https://money.stackexchange.com/
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| Mar 4, 2013 at 16:25 | comment | added | MrEdmundo | Exactly you'll use that rate (124.3333) and eventually you'll reach a real world amount based on some kind of logic but that 124.3333 could be refereed to as something that separates it from a valid monetary amount for USD. Anyway you get the point. Thanks. | |
| Mar 4, 2013 at 16:18 | comment | added | Vicky | As an aside, if you transfer money between currencies this is a normal problem, too, isn't it? You say "I've got GBP100 and I want to buy USD, how much will you sell me" and the bureau de change does some sums that come out at GBP100 = USD 124.3333 (or whatever) so they adjust both sides to get as close to a matching currency value as possible, and end up selling you USD 122.50 for GBP 97.80 or whatever. (Numbers pulled out of thin air, but you get the gist) | |
| Mar 4, 2013 at 16:16 | comment | added | Vicky | OK, in that case I would probably use terms like "monetary amount" or "monetary value" for the $24.4955 and "currency value" or "rounded up/down/off monetary value" for the $24.50. | |
| Mar 4, 2013 at 16:13 | comment | added | MrEdmundo | That's a fair enough point, but you need to know in certain circumstances that they're two different things. For example in order for an amount of money to be transferred the amount needs to be denominated based on the rules for that currency e.g. two decimal places for USD. So if you decided to buy my piece of paper of me you would probably give me $24.50. That $24.50 is a different thing (maybe); it's a real amount of US dollars not a value used for approximating the value like $24.4955. Perhaps it's unimportant but we think we'd like to force understanding of this subtle difference. | |
| Mar 4, 2013 at 16:05 | comment | added | Vicky | Perhaps I wasn't specific enough: it can directly be considered money, just not money for which there is a unit of currency in circulation. "Money" is a perfectly valid term for it. You must have seen petrol stations showing the price as "149.99p / litre" or whatever - nobody complains that this isn't money or that they can't pay for their fuel. | |
| Mar 4, 2013 at 15:55 | comment | added | MrEdmundo | So the question remains is there something that describes this amount that cannot directly be considered "money"? Your answer doesn't really answer the specific question, although perhaps you're just saying there isn't a specific word for such as concept. | |
| Mar 4, 2013 at 15:31 | history | answered | Vicky | CC BY-SA 3.0 |