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What is the European Currency Unit (ECU)?
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The European Currency Unit (French: Unité de compte européenne, Spanish: Unidad Monetaria Europea, 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.
Sep 21, 2022 · The European Currency Unit (ECU) was the monetary unit used by the European Monetary System (EMS) before being replaced by the euro. The ECU was introduced in 1979 and replaced by the euro in...
- Will Kenton
The European Monetary System (EMS) was a multilateral adjustable exchange rate agreement in which most of the nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations in relative value.
Euro is the currency of the countries in the eurozone. One euro is divided into 100 cent (officially) (singular) or "cents" (unofficially). Because of the number of different languages in the European Union, there are different, unofficial, names for this unit (the French call them "centimes" and the Spanish "céntimos", for example).
The European Currency Unit, ECU for short, was an artificial "basket" currency that was used by the member states of the European Union (EU) as their internal accounting unit.
Apr 29, 2024 · euro, monetary unit and currency of the European Union (EU). It was introduced as a noncash monetary unit in 1999, and currency notes and coins appeared in participating countries on January 1, 2002. After February 28, 2002, the euro became the sole currency of 12 EU member states, and their national currencies ceased to be legal tender.
