The neutral unit of construction or neutral unit of currency (code: NUC) is a

private currency A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many count ...

used by the airline industry, to record fare calculation information. A set of exchange rates is issued by the

International Air Transport Association The International Air Transport Association (IATA ) is a trade association of the world's airlines founded in 1945. IATA has been described as a cartel since, in addition to setting technical standards for airlines, IATA also organized tariff ...

(IATA) every month. The ticket component prices are converted from the original currency (of the country of commencement of travel) and recorded on the

airline ticket An airline ticket is a document or electronic record, issued by an airline or a travel agency, that confirms that an individual is entitled to a seat on a flight on an aircraft. The airline ticket may be one of two types: a ''paper ticket'', whi ...

. The NUC system came into being on 1 July 1989, having superseded the older "Fare Construction Unit" (FCU) system. , the NUC depends on the COC (Country of Commencement) of the travel. Each country that has a strong currency has an IROE (IATA Rate of Exchange) too. A similar unit, formerly used by the European railway industry, is the UIC Franc (XFU).

References

Private currencies Airline tickets International Air Transport Association {{Money-unit-stub