Multilateral settlement through ACU enables authorised dealers to clear eligible current international transactions using ACU dollar accounts. The ACU provides a multilateral clearing mechanism using the Asian Monetary Unit (ACU dollar) for settlement of eligible current international ... Summary
Multilateral settlement through ACU enables authorised dealers to clear eligible current international transactions using ACU dollar accounts.
The ACU provides a multilateral clearing mechanism using the Asian Monetary Unit (ACU dollar) for settlement of eligible current international transactions between residents of member territories. Authorised dealers may open ACU dollar accounts with correspondents in all member countries and settle transactions through direct correspondent operations, with central banks (via the Clearing Union) settling net spill-overs. The central bank facilitates funding/repatriation of ACU dollar balances subject to corresponding credits to its correspondent account and applicable FEMA and Memorandum ACM requirements.
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