Currencies with more than one level of subunits

[<k>]

In the UK of the 1960s, I used pounds, shillings and pence.

There were two levels of subunit.

A shilling consisted of 12 pence.

A pound consisted of 20 shillings.

From Wikipedia:

In a currency there is usually a main unit (base) and a subunit that is a fraction of the main unit. In some countries there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 kuruş = 4000 para = 12000 akçe. Today only a few places have more than one subunit. The Jordanian dinar is notably divided into 10 dirham, 100 qirsh/piastres, or 1000 fils.

Some currencies that previously had subunits no longer do, because inflation has rendered the subunit useless. A prominent example is the Japanese yen, which was formerly divided into 100 sen or 1000 rin. Both subunits were demonetized at the end of 1953.

Occasionally, a super unit is used as a multiple of the main unit. Examples include Korean won = 5 yang in 1893, Iranian toman=10 rials (used informally today). In the Ottoman Empire, lira and kuruş were super units at some point before becoming the main unit.

[<k>]

So, is Jordan the only country nowadays with a currency that has more than one level of subunit in real terms, with the appropriate coins in circulation?

[chrisild]

China might be another one. Have not been there so far, but they use a setup where 1 yuán = 10 jiǎo = 100 fēn. Now whether fēn coins are common these days, I do not know.

[<k>]

Now whether fēn coins are common these days, I do not know.

Somehow I would doubt it. Pabitra may know the answer.

[Figleaf]

The three tier denomination systems are obviously the successors of the three metal denomination systems that preceded them: copper / silver / gold e.g. guinea, shilling, penny or gold rider, stuiver, duit.

With that in mind, it is clear that US is still on a three tier denomination system: 1 and 5 cent(s), di(s)me, ¼ dollar.

Peter

[chrisild]

Was tempted to add the US, but then I did not. After all, this "middle denomination" is not used except on that one piece. Prices and other amounts are always expressed in dollars and cents, never in dimes ...

[Pabitra]

Somehow I would doubt it. Pabitra may know the answer.

Fen coins - minting and issuing stopped about 4 years back. They are still legal tender. In urban areas, their value is almost nothing but they are still in use in rural areas and hinterland, especially western part which is ecoconomically less well off.

[<k>]

Thank you, Pabitra.