Mill (currency)

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The mill (American English) or mil (Commonwealth English, except Canada) is a unit of currency (sometimes symbolized as ₥), used in several countries as one-thousandth of the base unit. In the United States, it is a notional unit equivalent to a thousandth of a United States dollar (a hundredth of a dime or a tenth of a cent). In the United Kingdom, it was proposed during the decades of discussion on decimalisation as a 1⁄1000 division of sterling's pound. While this system was never adopted in the United Kingdom, the currencies of some British or formerly British territories did adopt it, such as the Palestine pound and the Maltese lira.

The term comes from the Latin "millesimum", meaning "thousandth part".^[1]