unit of account
Britishnoun
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economics the function of money that enables the user to keep accounts, value transactions, etc
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Also called (esp US and Canadian): money of account. a monetary denomination used for accounting purposes, etc, but not necessarily corresponding to any real currency
the ECU is the unit of account of the European Monetary Fund
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the unit of currency of a country
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
"We could get an extra 163 million of special drawing rights with the disbursements of the fifth and the sixth review" of the 2021 programme, Njoroge said, referring to the unit of account for the Fund.
From Reuters
Brazil's Executive Secretary of the Finance Ministry, Gabriel Galipolo, told Reuters that the "regional unit of account" would come alongside expanded credit to support exports to Argentina through banks that operate in the country.
From Reuters
“Anyone with even an undergraduate degree in economics, such as myself, can tell you that money serves three functions: medium of exchange, unit of account and store of value,” Mr. McKenzie, who received his bachelor’s in economics from the University of Virginia, said Wednesday.
From Washington Times
Money is supposed to be a store of wealth and a unit of account: When it ceases to perform these functions, the operating system of the economy crashes.
From Washington Post
The dollar is supposed to act as a unit of account and a store of value.
From Washington Post
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
