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European Currency Unit

   Also found in: Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
European Currency Unit
n
(Economics, Accounting & Finance / Currencies) See ECU


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The common currency would be similar to the European currency unit and the monetary union currency in 2013 of the Gulf Cooperation Council countries that include Bahrain, Kuwait, Qatar and Saudi Arabia.
The release of the ACU can be seen as an initial step toward the integration of Asian currencies just as the European currency unit, a similar floating exchange rate system adopted in 1979 at the start of the European Monetary System, was replaced with the euro in 1999, it said.
Kneppeck said his parents aren't pleased with what they see as Germany losing its identity when it joined the European Union and abandons the Deutschmark for the European Currency Unit.
 
 
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