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Was (wer) ist European Currency Unit - definition
BASKET OF THE CURRENCIES OF THE EUROPEAN COMMUNITY MEMBER STATES, USED AS THE UNIT OF ACCOUNT OF THE EC BEFORE BEING REPLACED BY THE EURO
XEU; ₠; European currency unit; ECU (currency); XEU (currency); European ECU; Hard ECU; ISO 4217:XEU
European Currency Unit
The ecu is a "basket" of specified amounts of each E. C. currency. Amounts were determined according to the economic size of EC members, all of whose currencies participate in the ecu basket. In the European Monetary System (EMS), the ecu is used as a basis for setting central rates in the exchange rate mechanism, as an accounting unit, and as a reserve instrument and means of settlement among EMS central banks. The ecu is not used by persons. Under provisions of the Maastricht Treaty, the ecu is scheduled to be adopted as the single European currency in Stage III of European Monetary Union (by 1999 at the latest). The composition of the basket comprising the ecu was frozen on November 1, 1993 in accordance with a provision of the Maastricht Treaty which entered into force also on November 1. See: Maastricht Treaty
currency
GENERALLY ACCEPTED MEDIUM OF EXCHANGE FOR GOODS OR SERVICES
Monetary unit; Currencies; Market currency; Foreign currency; Currency transfer rules; Currancy; Curency; Coin of the realm; Proto-currency
n.
paper money
1) to issue; print currency
2) to call in, withdraw currency
3) convertible, hard; foreign; non-convertible, soft, weak; stable, strong currency
general use
4) to enjoy, have currency (to enjoy wide currency)
currency
GENERALLY ACCEPTED MEDIUM OF EXCHANGE FOR GOODS OR SERVICES
Monetary unit; Currencies; Market currency; Foreign currency; Currency transfer rules; Currancy; Curency; Coin of the realm; Proto-currency
(currencies)
Frequency: The word is one of the 3000 most common words in English.
1.
The money used in a particular country is referred to as its currency.
Tourism is the country's top earner of foreign currency...
More people favour a single European currency than oppose it.
N-VAR
2.
If a custom, idea, or word has currency, it is used and accepted by a lot of people at a particular time. (FORMAL)
'Loop' is one of those computer words that has gained currency in society.
= acceptance
N-UNCOUNT
3.
see also common currency
Wikipedia
European Currency Unit
The European Currency Unit (French: Unité de compte européenne, German: Europäische Währungseinheit ; ₠, ECU, or XEU) was a unit of account used by the European Economic Community and composed of a basket of member country currencies. The ECU came in to operation on 13 March 1979 and was assigned the ISO 4217 code. The ECU replaced the European Unit of Account (EUA) at parity in 1979, and it was later replaced by the euro (EUR) at parity on 1 January 1999.
As a unit of account, the ECU was not a circulating currency and did not replace or override the value of the currency of EEC member countries. However, it was used to price some international financial transactions and capital transfers.
Beispiele aus Textkorpus für European Currency Unit
1. "We have not intended to launch a currency unit like the Ecu [European currency unit, a precursor of the euro]," he said.
2. "We have not intended to launch a currency unit like the ECU [European Currency Unit, a precursor of the euro]," he said.
3. Modelled on the European Currency Unit, the forerunner of the euro, the Acu would be calculated using a basket of 13 regional currencies, weighted according to the size of each economy.
4. Giovanni Capannelli, senior economist in the ADB‘s Office of Regional Economic Integration, said the name might even be changed to the softer "Asian Currency Index" to avoid giving the impression that the proposed unit was the equivalent of the European Currency Unit that foreshadowed the euro.
5. He said there was no specific launch date yet but hopefully it would be unveiled "in the next few months". But Kawai played down suggestions that the ACU could foreshadow a single Asian currency like the European Currency Unit (ECU), which existed for two decades before the creation of the euro in 1'''. He said: "The ECU had an official status but the ACU has no such official status.