Piaster (Noun)
Meaning 1
100 kurus equal 1 lira in Turkey.
Classification
Nouns denoting quantities and units of measure.
Synonyms
Hypernyms
Meaning 2
A fractional monetary unit in Egypt and Lebanon and Sudan and Syria.
Classification
Nouns denoting quantities and units of measure.
Examples
- In Lebanon, prices for items can fluctuate in piasters and sometimes can fluctuate drastically based on currency rates with other countries.
- Historically the Egyptian pound has been subdivided into one hundred piasters since 1834 but over time some smaller subdivisions were phased out.
- After high inflation the value of one Syrian pound had diminished and sometimes shops quoted prices directly in US dollars instead of in piasters.
- While still theoretically valid for business purposes some retailers do not quote items with less than a set amount of piasters as pricing less would only further cause deflation and destabilize market trends.
- Lebanese traders continue to hedge in multiple denominations using United States dollars to conduct more stable financial exchanges despite continuing to trade smaller amounts of money using local piasters for food or for street merchandise.scalablytyped