European Currency Unit


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Related to European Currency Unit: European Monetary System

European Currency Unit:

see European Monetary SystemEuropean Monetary System,
arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members.
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References in periodicals archive ?
Stage three began on January 1, 1999 with the introduction of the euro (the European currency unit).
Concerns early in the quarter over the possible future weakness of the European Currency Unit may have also contributed to the decline of the German mark.
As Europe inches closer to the January 1, 1999, debut of the ECU (European currency unit), Kountz Laupa is poised to help her bank make a market for Euro-denominated securities.
It stands for European Currency Unit and took its name from an old French coin.
The institutional facilitation of the EMS was the implementation of the European Currency Unit (ECU) or Ecu and the ERM[7].
Generally, the mark-to-market rule applies to hedging instruments dealing with the following currencies: Japanese yen, British pound, Australian dollar, French franc, Swiss franc, German mark, Canadian dollar and European Currency Unit.
Kredietbank, world leader in European Currency Unit (ECU) clearing, is the second largest bank in Belgium with more than 700 domestic and international branches.
A common European currency--known as the European Currency Unit or ECE--will go into full use by 1999 at the latest.
Before the close of the millennium-by 1, January 1999 at the latest-a single currently, the ECU (European Currency Unit), is scheduled to replace national currencies in broad areas of Europe.
More recently, on February 12, 1986, options in the European Currency Unit (ECU) began trading.
The European currency unit will become the standard monetary exchange by Jan.

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