currency basket

Definitions

Accounting

  • noun a group of currencies, each of which is weighted, calculated together as a single unit against which another currency can be measured

Economics

  • A group of two or more currencies that may be used as a unit of account, or to which another currency may be pegged.

Forex

  • A collection of select foreign currencies weighted by valuation used as an index for comparing price differentials in transactions involving multiple currencies. The use of a weighted average of multiple currencies broadens the comparisons and reduces the risk exposure associated with using a single currency.
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