What does centesimo mean?
A centesimo is a monetary subunit representing one hundredth of a principal currency unit, much as a cent is one hundredth of a dollar. The term is used in several countries: Panama's balboa is divided into 100 centesimos, as is Uruguay's peso, and historically the Italian lira — along with the currencies of San Marino and Vatican City — was subdivided into centesimos before the euro replaced it in 2002. In practice, inflation has rendered most centesimo-denominated coins obsolete or nearly worthless, so the word today appears mostly in financial reporting, exchange-rate tables, and coin collecting. Borrowed from Italian and Spanish, it derives from the Latin centesimus, meaning 'hundredth,' making it a direct cousin of English words such as cent and percent. For travelers and readers of international finance, recognizing centesimos clarifies how small-value transactions are denominated in these currencies.
nounA fractional monetary unit equal to one hundredth of the basic unit of certain currencies, such as the Panamanian balboa and the Uruguayan peso; formerly also one hundredth of the Italian lira.
- A monetary subunit worth one hundredth of a principal unit of currency, as in the Panamanian balboa or the Uruguayan peso.
- Historically, a former subunit of the Italian lira and other now-defunct currencies.
"The bus fare cost just a few hundred balboas' worth of centesimos."
"He paid for the coffee with coins down to the last centesimo."
"The old lira's centesimos are now prized mainly by collectors of pre-euro currency."
The plural is regular, formed by adding -s. Amounts are conventionally expressed in the plural.
"A local call cost fifty centesimos."
Italy's old lira was split into 100 centesimos — but by its final decades, inflation had made the humble one-centesimo coin worth less than the metal it was minted from.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of centesimo
Centesimo comes from the Latin centesimus, meaning 'hundredth,' itself formed from centum, 'hundred.' The word entered English via Italian and Spanish, where both languages adopted it to name the hundredth part of their national currencies. Its Latin root also underlies English cognates such as cent, percent, centennial, and centesimal. The Italian lira ceased using centesimos when the euro was introduced in 2002.
Related word forms
How centesimo is actually used
The word is used almost exclusively in discussions of foreign currencies and appears chiefly in financial or numismatic contexts. The plural is centesimos. It is not part of everyday English vocabulary outside reference to these specific currencies.
Easily confused with centesimo
A centavo is the hundredth-part coin of Spanish-speaking currencies such as the Mexican or Philippine peso, while a centesimo serves that role in currencies like the Panama balboa, Uruguayan peso, and the former Italian lira.