Settlement system under Asian Clearing Union (ACU) Mechanism

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....it Japanese Yen for settling payments among the ACU member countries. Accordingly, clause (a) and (b) of Article IV of the General Provisions of Agreement establishing the Asian Clearing Union have been revised and the Asian Monetary Unit is now denominated as "ACU Dollar", "ACU Euro" and "ACU Yen" which shall be equivalent in value to one US Dollar, one Euro and one Japanese Yen respectively. ....

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....settled by the concerned banks through these accounts. 5. The amended Memorandum of Procedure for Channelling Transactions through Asian Clearing Union (ACU) [Memorandum ACM] is enclosed. 6. Notwithstanding the above, it may be noted that as per circular RBI/2015-16/441 A.P. (DIR Series) Circular No. 81 dated June 30, 2016, operations in 'ACU Euro' has been temporarily suspended with effect ....