Meaning of the word denominate in English

What does denominate mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

denominate

US /dɪˈnɑː.mə.neɪt/
UK /dɪˈnɑː.mə.neɪt/

Verb

1.

to express an amount of money in a particular currency (= units of money):

Example:
Oil sales were denominated in US dollars.
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