ELI5: Explain Like I'm 5

Mil (currency)

A mil is a type of currency that is used in some countries, but not all. It is a very small amount of money that is sometimes used for very small items, like candies or snacks.

Imagine you have a big box of candies, and each candy costs one penny. Now imagine you only have one-tenth of a penny. That's a really small amount of money, right? Well, that's what a mil is. It's one-tenth of a penny.

In some countries, like Israel and Belarus, they use mils as part of their currency. They may use it instead of a penny or a cent. So, if you go to the store in one of these countries and want to buy a candy that costs 5 cents, you might have to pay 50 mils instead.

Overall, a mil is just like a really tiny piece of money that some countries use to buy really small things.