European Unit of Account
The European Unit of Account (EUA) was a unit of account used in the European Communities from 1975 to 1979, when it was replaced at parity by the European Currency Unit, in turn replaced at parity in 1999 by the euro.
The EUA was a basket of European currencies, originally designed to have the same value in mid-1974 as the IMF special drawing rights basket, both worth US$1.20635; they immediately moved apart in value. Different units of account had previously been used for different purposes, including the budget, the European Coal and Steel Community, and the Common Agriculture Policy following the abandonment of the gold parity unit of account in the early 1970s in the wake of the collapse of the Bretton Woods system.
Bond market baskets of currencies
|Alphabetic code||Numeric code||Name|
|XBA||955||European Composite Unit (EURCO)|
|XBB||956||European Monetary Unit (E.M.U.-6)|
|XBC||957||European Unit of Account 9 (E.U.A.-9)|
|XBD||958||European Unit of Account 17 (E.U.A.-17)|
|XEU||954||European Currency Unit|
- "Timeline of the European Union | EU Facts". Europeaninstitute.org. Retrieved 2010-06-30.
- The Units of Account as a Factor of Integration CEC 87/75
- European Union Public Finance[permanent dead link], European Commission, ISBN 92-894-1620-3, published 2002, accessed 20112-01-09
- ISO currency codes list
|This Europe-related article is a stub. You can help Wikipedia by expanding it.|