What does the cryptic crossword clue "Coin once used in City University (3)" mean?

The definition is "Coin once". The wordplay uses a charade (building blocks). EC (abbreviation="City") + U (abbreviation="University") = ECU; definition: "Coin once" The answer is ECU.

Coin once used in City University (3)

Times Cryptic #28834 | 2 Down | 2024-02-08 flower

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