European Currency Unit

Business, Legal & Accounting Glossary

Definition: European Currency Unit


European Currency Unit

Quick Summary of European Currency Unit


A composite monetary unit consisting of a basket of European Community currencies that served as the predecessor to the Euro. While it was being used, the purpose of the ECU was to provide investment opportunities that weren’t specific to one currency, allowing investors a way to diversify.




Examples of European Currency Unit in a sentence


You may find that it would be easier to also keep an ECU account so that you are not always changing money.

The ECU was a way to diversify things and give more investment opportunities to people, which I thought was really great.

Years ago, my father told me about his investment ventures dabbling with the ECU and how it had made him a tidy sum of money.


Synonyms For European Currency Unit


ECU


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Definition Sources


Definitions for European Currency Unit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 30th October, 2021 | 0 Views.