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Author Topic: Use of currency baskets in history  (Read 13 times)
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July 05, 2018, 01:10:33 PM

-- Due to a shortfall of gold and US dollars, the International Monetary Fund created in 1969 the “XDR”, a unit of account whose value was based on a basket of key international currencies. The weights assigned to each currency were reviewed and adjusted according to their current prominence.

-- Before the Euro existed, the European Union created an artificial currency called ECU (European Currency Unit) which was, as a matter of fact, a currency basket composed by several European currencies.

-- In 2007, Kuwait decided to peg their currency “dinar” to a basket instead of the US dollar because the instability of the latter by that time was causing a high inflation.

What do you think of tokenized currency baskets?
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