XEU
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The XEU is the ISO currency code for the former European Currency Unit or ECU, the predecessor of the Euro. (The "X" indicates a synthetic currency). The ECU no longer exists, since the birth of the Euro. Thus, for historical trend analysis purposes, the XEU may be used with caution as a synthetic Euro. It was a trade-weighted basket of currencies in the European Monetary System: consequently in contained the GBP before Black Wednesday (October 1992), but not afterwards.
At its birth, the Euro was legally defined to have the same value as the ECU on that day. The legacy currencies were redefined to be subdivisions of the Euro in accordance with their value in ECU.
The definitive values in euros of these subdivisions (which represent the exchange rates at which the currency entered the euro) are as follows:
- 13.7603 Austrian schillings (ATS)
- 40.3399 Belgian francs (BEF)
- 2.20371 Dutch guilder (NLG)
- 5.94573 Finnish markka (FIM)
- 6.55957 French francs (FRF)
- 1.95583 German marks (DEM)
- 0.787564 Irish pounds (IEP)
- 1936.27 Italian lira (ITL)
- 40.3399 Luxembourg francs (LUF)
- 200.482 Portuguese escudos (PTE)
- 166.386 Spanish pesetas (ESP)
Until Black Wednesday in 1992, the GBP was in the basket of currencies that defined the ECU.
See also
XAU (synthetic unit of Gold)
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