Europe is the unit used for internal valuation and settlement in European Community countries.
The European Monetary Unit is also known as the ECU.
The European Monetary Unit is also known as the EGU.
It is a unit of currency commonly used in European Community countries for internal pricing and settlement.
It began on March 13, 1979, and is a key link in the European monetary system.
The European Currency Unit is made up of 12 currencies, such as the French franc and the Italian lira.
The proportion of each currency in the ECU is usually adjusted every five years.
Based on these weights and contents, and for each component currency, the currency value is calculated daily using the weighted average method.
The main purpose of establishing the ECU is to ensure that Europe avoids the negative effects of sudden exchange rate changes to the maximum extent possible, while maintaining the convergence of member economies.
