Business Dictionary :


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Basket : noun :

(a) Container made of thin pieces of wood or metal or plastic

• A basket of apples

• Filing basket = container kept on a desk for documents which have to be filed

• Shopping basket = basket used for carrying shopping

• Waste paper basket = container into which paper or pieces of rubbish can be thrown

(b) Group of prices or currencies taken as a standard

• The pound has fallen against a basket of European currencies.

• The price of the average shopping basket or US the market basket has risen by 6%.

QUOTE : As a basket of European currencies, the ECU is protected from exchange-rate swings. (Economist)

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