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Asian Clearing Union |
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Asian Clearing Union An organization intended to provide a systematic way for transnational transactions in Asia to be settled. Eligible transactions are settled using an accounting currency equal to one U.S. dollar. A number of transactions are required to be settled through the Asian Currency Union, notably deferred-payment import/export transactions and direct transfers between residents of different member countries. It was established by the United Nations in 1974 and is based in Tehran, Iran. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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