Eurco

Summary of Eurco

A commercial version of the European Currency Unit (read this and related legal terms for further details). In order to stimulate interest in the European currency unit (ECU), in 1973 the European Investment Bank introduced eurco as the commercial equivalent of the ECU, which was limited to use by governmental holders only. The eurco is composed of the following national

currencies

.9 Deutschemarks

1.2 French francs

.35 Netherlands guilder

.075 Pounds sterling

.005 Irish pounds

80. Italian lira

4.5 Belgian francs

.2 Danish kroner

.5 Luxembourg francs

The market value of the eurco fluctuated daily in response to the market values of its component currencies.

See Artificial Currency Unit and Euro.

(Main Author: William J. Miller)