european currency unit
ACRONYM
ˌEuropean ˈCurrency ˌUnit noun
european currency unit (ecu) :سبد ارزی اروپا، بازرگانی: واحد پول اروپایی
▼ ادامه توضیحات دیکشنری؛ پس از بنر تبلیغاتی ▼
English DictionaryˌEuropean ˈCurrency ˌUnit noun an
ECU [TahlilGaran] Dictionary of Contemporary English ▲
Acronyms and AbbreviationsEuropean Currency Unit The ecu is a "basket" of specified amounts of each E. C. currency. Amounts were determined according to the economic size of EC members, all of whose currencies participate in the ecu basket. In the European Monetary System (EMS), the ecu is used as a basis for setting central rates in the exchange rate mechanism, as an accounting unit, and as a reserve instrument and means of settlement among EMS central banks. The ecu is not used by persons. Under provisions of the Maastricht Treaty, the ecu is scheduled to be adopted as the single European currency in Stage III of European Monetary Union (by 1999 at the latest). The composition of the basket comprising the ecu was frozen on November 1, 1993 in accordance with a provision of the Maastricht Treaty which entered into force also on November 1. See: Maastricht Treaty [TahlilGaran] Acronyms and Abbreviations Dictionary ▲