Definition of "monetary system" []

• Anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region (noun)

WordNet. Princeton University. 2010.

• "In 1835 Gregory XVI regulated the monetary system of the Pontifical States, establishing the scudo as the unit, and dividing it into 100 baiocchi, while the baiocco was divided into 5 quattrini (the quattrino, until 1591, had been equal to ¼ of a baiocco)."
• "The scudo is equal to 5·3 lire in the monetary system of the Latin Union."