when that organisation was formed in 1950. The EUA was defined as 0.888671 grams of gold, or one US dollar. The unit was first used outside the EPU in 1961, when Kredietbank Luxembourgeoise issued a bond denominated in EUA. After the collapse of the Bretton Woods system, the EUA was redefined as a basket of European currencies.

The EUA was used for Lomé Convention and European Investment Bank operations