a former money of account of the European Common Market that was used in international finance until the euro was adopted and was based on the combined prorated values of the currencies of member nations.
Origin: E(uropean) C(urrency) U(nit), perhaps with play on écu
old Fr. silver coin, 1704, from O.Fr. escu, from L. scutum "shield" (see hide (n.1)). First issued by Louis IX; so called because the shield of France was imprinted on them.