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What (who) is currency basket - definition
Currency basket
A currency basket is a portfolio of selected currencies with different weightings. A currency basket is commonly used by investors to minimize the risk of currency fluctuations and also governments when setting the market value of a country’s currency.
Asian Monetary Unit
The Asian Monetary Unit (AMU) is a basket of currencies proposed by the Japanese government's Research Institute of Economy, Trade and Industry (RIETI). It is similar to and modeled on the European Currency Unit (ECU), predecessor to the euro.
Hard Currency
GLOBALLY TRADED CURRENCY THAT SERVES AS A RELIABLE AND STABLE STORE OF VALUE
Hard Currency; Hard currencies; Soft currency; Sound money; Safe-haven currency; Safe haven currency; Haven currency; Strong currency; Weak currency
The currency of a nation which may be exchanged for that of another nation without restriction. Sometimes referred to as convertible currency. Hard currency countries typically have sizeable exchange reserves and surpluses in their balance of payments. See: Soft Currency
Examples of use of currency basket
1. As a result, the currency basket rose by 11.6 percent.
2. The ruble is up by nearly 4 percent on the currency basket this year.
3. But in any case, groups are based on the currency basket, which includes the dollar, euro and yen, and the weakening of these currencies over the past year points to a lowered currency basket value and lower license groups.
4. Kuwait tracks it dinar against a currency basket dominated by the dollar.
5. By shifting to a currency basket, the Chinese may have less need to accumulate dollar assets.