Basket currency
A basket currency is an artificial currency made up of the weighted proportions of different currencies. The basket currency also develops depending on the development of the individual currencies.
In order not to peg one currency to another currency alone, basket currencies were created to which the respective currency was pegged. For example, the Austrian Schilling was tied to a basket currency by the OeNB in the late 1960s.
List of basket currencies
Individual evidence
- ^ Former Finance Minister Schmitz dead: Considered to be a pioneer in hard currency policy , news.at of November 16, 2008