Arranged spree with union money (6)

I believe the answer is:

rupees

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'arranged spree with union money' is the definition.
I can't tell whether this definition defines the answer.

'arranged spree with union' is the wordplay.
'arranged' indicates anagramming the letters (letters rearranged).
'with' means one lot of letters goes inside another.
'union' becomes 'U' (common abbreviation as in Trades Union Congress).
'spree' is an anagram of 'rpees'.
'rpees' enclosing 'u' is 'RUPEES'.

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(Other definitions for rupees that I've seen before include "Indian monetary units" , "Coins of India" .)

I've seen this clue in The Mirror.

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