WOCU

symbol of the Wocu.
The symbol of the Wocu.

The World Currency Unit WOCU is a standardized basket of currencies: the national currencies of the 20 largest national economies measured by GDP. The basket is reweighted semi annually according to the relative growth of the economies, whereby constituent currencies are replaced by other currencies should the size of the GDP be overtaken by that of another national economy. To provide a consistent calculation algorithm, the GDP figures used are those issued by the International Monetary Fund bi-annually, as part of its World Economic Outlook forecast.[1]

The WOCU algorithm is independently monitored by the WDX Institute, a not-for-profit research body established to further academic research on World Currency Baskets.

Conceived initially as a private sector and apolitical global alternative to the European Currency Unit, it is used to price commodities such as bunker fuel and as a reference currency for global investors and companies seeking to mitigate bilateral exchange rate volatility.[2]

Symbol

The currency's symbol comprises a Capital W within a circle. This characterizes the WOCU as a global, all encompassing currency.

The relative value of the WOCU

Since September 10, 2009 the value of the WOCU has been calculated in real-time 24 hours per day 7 days per week and the weighting of the basket is now being adjusted on the third Thursday of May and November each year.

Indicative Spot FX rates

Currency 21.02.2011 12.12.2014 Change
USD 1.7407 1.5514 12.2%
EUR 1.2726 1.2459 2.1%
CNY 11.4305 9.6019 19.0%
JPY 144.72 183.65 -21.2%
BRL 2.8983 4.1095 -29.5%
GBP 1.0730 0.9870 8.7%
RUB 50.7099 88.8573 -42.9%
CAD 1.7103 1.7906 -4.5%
INR 78.2473 96.8992 -19.2%
AUD 1.7250 1.8761 -8.1%
MXN 20.9956 22.9853 -8.7%
KRW 1949.32 1709.40 14.0%
IDR 15384.62 19230.77 -20.0%
TRY 2.7716 3.5547 -22.0%
CHF 1.6159 1.4962 8.0%
SAR 6.4045 5.8223 10.0%
PLN 5.0085 5.2001 -3.7%

See also

References

External links

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