European Currency Unit

Also known as ECU

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

Key facts

Code: XEU
Symbol: ₠ ‎
Nickname: ECU
Date of introduction: 13 April 1979
Replaced: European Unit of Account
Date of withdrawal: 31 December 1998
Replaced by: Euro
User s: European Economic Community (1979–1998) European Union (1993–1998)
Pegged with: 8 currencies (1979–1989) 12 currencies (1989–1998)

via Wikipedia infobox

Wikidata facts

Image: Unicode 0x20A0.svg

Sources (5)

wikidata.org

Article

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. 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.