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What is the function of the ACU?

Overview of Asian Clearing Union The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis.

What is the mission of Assiniboine Credit Union?

Mission. As a socially responsible co-operative, we provide financial services for the wellbeing and resilience of our members, employees, communities, and environment.

What does ACU mean in banking?

Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis.

What is the function of the ACU?

Overview of Asian Clearing Union The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis.

What are the ACU nations?

The ACU is a proposed currency basket for the currencies of Asian countries that would include China, Japan, South Korea, Indonesia, Malaysia, and Singapore. In particular, it would serve as a common currency basket composed of 13 East Asian currencies, such as ASEAN 10 plus Japan, China, and South Korea.

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