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<p>The <b>European Currency Unit</b> (, , ; <<b><i>'>, <b>ECU</b>, or <b>XEU</b>) was a <a href="page.php?w=unit_of_account">unit of account</a> used by the <a href="page.php?w=European_Economic_Community">European Economic Community</a> and composed of a <a href="page.php?w=Currency_basket">basket</a> of member country currencies. The ECU came in to operation on 13 March 1979 and was assigned the <a href="page.php?w=ISO%26nbsp%3B4217">ISO&nbsp;4217</a> code. The ECU replaced the <a href="page.php?w=European_Unit_of_Account">European Unit of Account</a> (EUA) at parity in 1979, and it was later replaced by the <a href="page.php?w=euro">euro</a> (EUR) at parity on 1&nbsp;January 1999.</i></<b></p><p>
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