European currency unit

European currency unit definition - finance
A currency, created from the first attempt at European economic and monetary union, that was replaced when the euro was introduced in 1999 as a financial unit. The ECU was a basket of currencies from countries across Europe. ECUs could not be spent and thus were an artificial currency.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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