XEU


Also found in: Acronyms.

XEU

The ISO 4217 currency code for the European currency Unit (ECU).

XEU

ISO 4217 currency code for the European currency unit. Prior to the adoption of the euro, the XEU was set up as currency basket to provide a methodology for reconciling differing exchange rates between currencies who wished to participate in the single European currency. Established in the 1979, it was known as a "semi-pegged" system in which currencies were variable with respect to each other only within a certain range. After the introduction of the euro in 1999, the exchange rate mechanism was replaced by ERM II, which reconciles exchange rates for countries wishing to join the eurozone. See also: Exchange rate mechanism.
References in periodicals archive ?
Congress held a hearing on chemical weapons, Vang Pao and Xeu Vang Vangyi, then executive director of the Lao Family Community, Inc.
Varo's expressions tung [CHINESE CHARACTERS NOT REPRODUCIBLE IN ASCII] "grain harvest" and xeu tung [CHINESE CHARACTERS NOT REPRODUCIBLE IN ASCII] "to harvest," which are widely found in Fukien and contiguous Min-speaking areas but are not generally known elsewhere.
Tieto, the Finnish provider of information technology services, is to take over its Swedish rival, Enator, in a XEU 920m (USD1bn) deal that will form one of northern Europe's leading computer maintenance and systems management companies.