ACU

E706425

ACU is a regional payment arrangement among Asian countries that facilitates multilateral clearing of trade transactions to reduce reliance on hard currencies.

All labels observed (2)

Label Occurrences
ACU canonical 3
ACU Secretariat 1

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf intergovernmental organization
regional payment arrangement
abbreviation ACU
benefit improves efficiency of regional payment arrangements
reduces need for settlement in hard currencies such as the US dollar
reduces transaction costs for member countries
clearingMechanism multilateral netting of eligible transactions
clearingPeriod periodic settlement of net positions among members
currencyRole promotes settlement in participants’ currencies
dateFounded 1974
foundedBy United Nations Economic and Social Commission for Asia and the Pacific
foundingInstrument Agreement establishing the Asian Clearing Union
fullName Asian Clearing Union
geopoliticalScope Asian member states
governingBody Board of Directors
headquartersCountry Iran
headquartersLocation Tehran
legalStatus treaty-based organization
member Bangladesh
Bhutan
India
Iran
Maldives
Myanmar
Nepal
Pakistan
Sri Lanka
memberType central banks of member countries
officialLanguage English
purpose economize on use of foreign exchange reserves
facilitate multilateral clearing of trade transactions
promote monetary cooperation among member countries
promote use of participants’ currencies in regional trade
reduce reliance on hard currencies
regionServed Asia
relatedConcept multilateral clearing union
regional payment system
relatedOrganization International Monetary Fund
United Nations Economic and Social Commission for Asia and the Pacific
secretariat ACU Secretariat
linked to: ACU
sector international finance
payments and settlements
transactionType current account transactions
eligible trade-related payments
usesInstrument Asian Monetary Unit
website https://www.asianclearingunion.org

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Asian Clearing Union abbreviation ACU
subject linked to: ACU
Asian Clearing Union secretariat ACU Secretariat
subject linked to: ACU
linked to: ACU