World currency unit

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Revision as of 16:52, 17 December 2013 by Doug Williamson (Talk | contribs) (removal of 'weighted' modifier for the basket)

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The WOCU is a global composite currency unit made up of a basket of the currencies of the 20 largest economies, weighted by relative GDP. It was created in particular to be a convenient unit of account for commodities transactions and having less volatility than the component currencies. It was launched in 2009 and is monitored by the WDX Institute.