Glossary / Banking

Minor Unit - Currency Glossary Definition

What is Minor Unit? Detailed financial and typographic definition, background, and practical usage examples.

Definition

Minor Unit

The fractional division of a currency unit, such as cents (1/100 USD), pence (1/100 GBP), or paise (1/100 INR).

Detailed Overview & Context

Some currencies like the Japanese Yen (JPY) or Chilean Peso (CLP) have an exponent of 0 (no minor unit in circulation).

Example Currencies Operating Under This Term

¢
Cent SymbolCENT
→£
British PoundGBP
→¥
Japanese YenJPY
→

Authoritative Regulatory & Standards References

SIX Group

ISO 4217 Fractional Currency Subunit Specification Table

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