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.
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 • Jan. 23, 2023
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 • Oct. 2, 2022
A currency, as economists understand it, must fulfill three functions: It must be a relatively stable store of value, a commonly understood unit of account, and a widely accepted medium of exchange.
From Slate • May 18, 2022
“It’s not a reliable store of value, unit of account or medium of exchange.”
From New York Times • Mar. 31, 2022
As every one knows, the name, or unit of account, is affixed to a given number of grains of a specified fineness of a certain metal.
From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur
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.
