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EUROPEAN CURRENCY UNIT (ECU)

Statistics Directorate    
French Equivalent: Unité monétaire européene (écu)

Definition:
European Currency Unit (ECU) was a basket currency made up of the sum of fixed amounts of 12 of the 15 currencies of the European Union Member States. The value of the ECU was calculated as a weighted average of the value of its component currencies.

The ECU was replaced by the euro on a one-for-one basis on 1 January 1999.

Source Publication:
European Central Bank Annual Report.

Cross References:
Euro

Hyperlink:
http://www.ecb.int/pub/html/index.en.html

Statistical Theme: Financial statistics

Created on Tuesday, September 25, 2001

Last updated on Monday, June 10, 2013