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What is a currency basket ?

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Danielle
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A currency basket is a portfolio of selected currencies with different weightings. A currency basket is commonly used to minimize the risk of currency fluctuations.[1] An example of a currency basket is the European Currency Unit that was used by the European Community member states as the unit of account before being replaced by the euro.[2] Another example is the special drawing rights of the International Monetary Fund.
reference: http://en.wikipedia.org/wiki/Currency_basket
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