Currency Subunit
A currency subunit is a smaller unit of a currency that is used to facilitate transactions. For example, in the United States, the main currency is the U.S. dollar, and its subunit is the cent, where 100 cents equal one dollar. This system allows for easier pricing and change-making in everyday transactions.
Different countries have their own currency subunits. In the Eurozone, the main currency is the euro, and its subunit is the cent, similar to the U.S. system. Understanding currency subunits is essential for international trade and travel, as they help in converting and comparing values across different currencies.