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Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer?.

Solutions for Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Bank Exams. Download more important topics, notes, lectures and mock test series for Bank Exams Exam by signing up for free.

Here you can find the meaning of Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: The Asian Clearing Union (ACU) was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional cooperation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.The Asian Monetary Units (AMUs) is the common unit of account of ACU and are denominated as ‘ACU Dollar’, ‘ACU Euro’, and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro, and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts, and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro, and Japanese Yen Accounts respectively maintained for non-ACU transactions.Q. Which among the following is not a reason leading to the formation of a clearing union?a)Exploitation of economies of scaleb)Promotion of domestic currenciesc)Trade liberalizationd)Common ground for regional economic co-operationCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Bank Exams tests.