Because dollar is our denomination. Cents are fractions of that dollar.
A quarter is literally a quarter of a dollar.
A dime comes from the french word for one-tenth.
Cent comes from the latin word “centum,” meaning “hundred.”
A cent of a yen would be .01 yen
HugoHancock on
We compare currencies in two different ways.
How many of a foreign currency for 1 of the local currency. So you would need 100 Yen for 1 USD if you are located in the USA for example. This is called indirect quotations.
In the other hand, how many units of a local currency for a foreign one is called direct quotations. So, taking the same example, you would need 0.01 USD for 1 Yen.
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Because dollar is our denomination. Cents are fractions of that dollar.
A quarter is literally a quarter of a dollar.
A dime comes from the french word for one-tenth.
Cent comes from the latin word “centum,” meaning “hundred.”
A cent of a yen would be .01 yen
We compare currencies in two different ways.
How many of a foreign currency for 1 of the local currency. So you would need 100 Yen for 1 USD if you are located in the USA for example. This is called indirect quotations.
In the other hand, how many units of a local currency for a foreign one is called direct quotations. So, taking the same example, you would need 0.01 USD for 1 Yen.