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WOCU

The World Currency Unit WOCU is a standardized basket of currencies: the national currencies of the 20 largest national economies measured by GDP. The basket is reweighted semi annually according to the relative growth of the economies, whereby constituent currencies are replaced by other currencies should the size of the GDP be overtaken by that of another national economy. To provide a consistent calculation algorithm, the GDP figures used are those issued by the International Monetary Fund bi-annually, as part of its World Economic Outlook forecast.

The WOCU algorithm is independently monitored by the WDX Institute, a not-for-profit research body established to further academic research on World Currency Baskets.

Conceived initially as a private sector and apolitical global alternative to the European Currency Unit, it is used to price commodities such as bunker fuel and as a reference currency for global investors and companies seeking to mitigate bilateral exchange rate volatility.