European Unit of Account European Unit of Account The European Unit of Account (EUA) was a unit of account used in the European Communities from 1975 to 1979, when it was replaced at parity by the European Currency Unit, in turn replaced at parity in 1999 by the euro. Initially it was used for Lomé Convention and European Investment Bank operations before being gradually introduced into other sectors of Community activity. The EUA was a basket of European currencies, originally designed to have the same value in mid-1974 as the IMF special drawing rights basket, both worth US$1.20635; they immediately moved apart in value.
Korean currency also got devaluated. This was the reason for the reintroduction of won in 1962 as the official currency unit. South Korean currency was still pegged to the US dollar until in 1997 when it was floated into the world market. The Joseon Dynasty issued its first copper coins. In 1888, shortly before the yang was introduced, a small number of coins denominated in hwan (圜) and mun (文) were minted. Even though the yang had been used in past it was reintroduced as the main currency in 1892. One yang was subdivided in 100 fun, making it the first Korean