Asian Currency Unit Deposit
From Financial Literacy Wiki
Asian Currency Unit deposit (ACU) are times deposits in foreign currencies, placed with a bank in Singapore. Your deposits are placed with the Asian Currency Unit, a separating operating entity of a bank that accepts foreign currencies other than Singapore Dollars. Although named Asian Currency Unit, popular ACU deposits are includes US Dollars, Austrailian Dollars , New Zealand Dollars British Pound, Canadian Dollar, Eurodollar, Japanese Yen, Hong Kong Dollars and Malaysian Ringgit.
ACU are valued on the 'spot', which means that the deposit will earn interest two business days from the contract date even though the interest rate and exchange rate is fixed on the contract date. And investors need to inform the bank whether you wish to terminate your ACU deposit two working days before the maturity, or the bank will just roll over the deposit for you. So please take note of when your ACU will mature. Upon termination of the deposit, interest and capital will be paid to the depositor.
