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The Euro had two predecessors (kinda) - the European Unit of Account and the European Currency Unit. They weren’t day to day currencies, but they were used for
by pridkett 4y ago
The Euro had two predecessors (kinda) - the European Unit of Account and the European Currency Unit. They weren’t day to day currencies, but they were used for things like cross-border bonds. The EUA was originally defined to be one dollar worth of gold back in the gold standard days.
Each transition saw a 1:1 conversion with fluctuation - usually to benefit the EUA/ECU/Euro - along the way.