I would also like to share some of the recent steps we have taken in this area with a view to seeking your views and feedback for improvements. Introduction 3. Currency management has a great degree of significance for Central Banks the world over as it is one of the most visible functions which touches the lives of every individual.
The EMS marked the introduction of the European Currency Unit (ECU) as single unit of account and as starting point for the new exchange rate system. Yet it was no more than a technical arrangement.