ACU Full Form, What is the Full form of ACU?
“The Asian Currency Union or the ACU is a currency proposal for Asian countries to have a common currency. The Asian Currency Union (ACU), with headquarters in Tehran, Iran, was established on December 9, 1974, at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It is similar to the European Currency Unit that preceded the Euro. Also, it is still being explored, and the ACU has not yet found any real traction among Asian governments. This is because of the lack of demand for a common currency. Most of the Asian trade happens outside of Asia, which is opposite to the trade taking place in Europe. However, it is undeniable that a common currency is helpful in trade due to shorter calculations.
Even though the currency proposal was said to be common for all Asian countries, only China, Japan, South Korea, Indonesia, Malaysia, and Singapore were included in it.