Definition of single currency in US English:

single currency

noun

  • 1A currency used by all the members of an economic federation.

    • ‘An equally important, albeit contested, factor is the link between the single market and a single currency.’
    • ‘Tukur thinks the African economy will do better under a single currency.’
    • ‘Colin also says ‘single currencies’ only work where there is ‘free movement of labour.’’
    • ‘Professor Robert Mundell, a Canadian economist famous for his work on single currencies, has long maintained that a currency union needs a high degree of political union to work successfully.’
    • ‘How irrevocable is a single currency if members have sovereign parliaments and can leave?’
    1. 1.1 The currency (the euro) which replaced the national currencies of twelve member states of the European Union in 2002.
      • ‘The third stage involved the irrevocable fixing of exchange rates and the replacement of national currencies by a single European currency.’
      • ‘The vast majority of the British population instinctively opposes the single currency.’
      • ‘As new entrants to the European Union happily join the single currency, Britain could easily be in a minority of one among 25.’
      • ‘Opponents of the single currency claim Britain's economy is doing fine without it.’
      • ‘We should only be part of the single currency if the economic conditions are met.’