The Asian Clearing Union (ACU), with headquarters at
Tehran (
Iran), was established on
9th December 1974 at the initiative of the Economic and Social Commission for Asia and Pacific (ESCAP) of the
United Nations. The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of monetary transactions among the members of the Union and to provide a system for clearing payments among the member countries on a multilateral basis.
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