Denomination (currency) Denomination (currency) Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. For example, "five euros" is the denomination of a five euro note. 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, notably the Jordanian
Denomination effect monthly income of the participants, as 18.7% (28/150) earned less than CNY 300, 65% earned (97/150) between CNY 301 and 600 and 16.7% (25/150) earned over CNY 600. The average household size was about 3.3 people in both conditions. Some who purchased household items were less satisfied if they had received a large banknote, compared to the others who felt more satisfied spending smaller denominations. One study, conducted by marketing professors Arul Mishra, Himanshu Mishra and Dhananjay Nayakankuppam in 2006, documented a phenomenon whereby consumers spent less of a large denomination, but not with smaller denominations. In the study, they