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Bancor
 

 

The term J. M. Keynes applied to the currency which he proposed a new central international bank should create and put into circulation for the payment of debts between countries. His proposal was rejected at the 1944 Bretton Woods Conference, which established the International Monetary Fund. However, the beginning of 1970 saw the introduction of a similar international currency in the allocation of special drawing rights through the I.M.F.

Reference: The Penguin Business Dictionary, 3rd edt.