Numeraire
From Open Risk Manual
Definition
Numeraire. A unit of account in terms of which the relative price of other traded goods, services or assets is expressed. The price of the good chosen as numeraire is by definition 1 (unity).
Numeraire. A unit of account in terms of which the relative price of other traded goods, services or assets is expressed. The price of the good chosen as numeraire is by definition 1 (unity).