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Revision as of 18:55, 8 March 2012
A currency basket is a portfolio of selected currencies with different weightings. A currency basket is commonly used to minimize the risk of currency fluctuations.[1] An example of a currency basket is the European Currency Unit that was used by the European Community member states as the unit of account before being replaced by the euro.[2] Another example is the Special Drawing Rights of the International Monetary Fund.
See also
References
- ^ "Currency Basket". Investopedia. Retrieved 18 September 2010.
- ^ Kent, Penelope (2008). Law of the European Union. Pearson Education. p. 258. ISBN 9781405835268. Retrieved 19 September 2010.
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