What is the full form of ACU

ACU stands for Asian Clearing Union. ACU is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis.

It was established on December 9, 1974, with headquarters in Tehran, Iran.  The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis.