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Currency Basket |
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Currency Basket A selected group of currencies whose weighted average is used as a measure of the value or the amount of an obligation. Notes: A currency basket is commonly used in contracts as a way of avoiding (or minimizing) the risk of currency fluctuations.Currency basket The value of a portfolio of specific amounts of individual currencies, used as the basis for setting the market value of another currency. It is also referred to as a currency cocktail. |
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dollar in the course of moving from a dollar peg to a currency basket peg. The ECU is a currency basket whose value is based on the currencies of the eleven euro participants, as well as the Danish krone, the Greek drachma, and the British pound sterling, whose issuers will not initially be among the euro group. Elsewhere, the euro received a lift from the Russian Central Bank's decision to raise the weighting of euros in its dual currency basket. |
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Currency Basket
