The Asian Clearing Union (ACU) is the easier
form of payment
agreements whereby the members settle international payments for intra-regional
transactions of international trade among the participating central banks.
The main objectives are to make easy international payments among member
countries for eligible transactions.
ACU was founded at the initiative
of the United Nations Economic and Social Commission for
Asia and the Pacific (ESCAP).
The Asian Clearing Union members are Bangladesh, Bhutan, India,
Nepal, Pakistan and Sri Lanka.
Since the beginning of the Asian Clearing Union (ACU), international transactions have experienced a
growth. In 2007, total of transactions (one way plus accumulated interest) amounted
to USD 15,830 million (31.4% growth compared to the previous
Based on the approval of the Asian Clearing Union (ACU) Board of Directors, the accounts of the
Asian Clearing Union (ACU) are held in "Asian Monetary
Units" (AMUs), comprising ACU dollar and ACU euro with effect from 2009
The Board of Directors may make agreements with a central bank or monetary
authority of a participant to supply the necessary services and facilities for
the operation of the clearing facility.
The Central Bank of Iran is the central
agent for the ACU.
Example of the course Asian Clearing Union: