Bancor - Financial definition
Financial acronyms
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Concise definition of the term bancor
The bancor was a supranational currency conceptualised in the years 1940–1942. The United Kingdom proposed to introduce it after World War II.
Comprehensive definition of the term bancor
The concept of the bancor was developed by John Maynard Keynes and E. F. Schumacher.
The name was inspired by the French banque or or bank gold. This newly created supranational currency would then be used in international trade as a unit of account within a multilateral clearing system — the International Clearing Union — which would also have to be founded.