European Unit of Account

Skojec was a medieval central European unit of account as well as a unit of mass.

After the collapse of Bretton Woods, more than one unit of account was used until the European Unit of Account (EUA) was eventually adopted as a universal replacement from 1977.

Before the introduction of the euro, exchange rates were based on the European Currency Unit (ECU), the European unit of account, whose value was determined as a weighted average of the participating currencies.