Abstract: A meter for measuring the velocity of a fluid by ascertaining propagation periods of acoustic wave packets transmitted therein, the meter including a pair of transducers for disposition in the fluid, a transmitter for transmitting a packet between the transducers in an upstream or downstream direction designated by an up/down signal at each time designated by a transmit signal and a receiver for developing a received signal marking the time of receipt by a transducer of each packet, the times being marked so as to avoid amplitude and half-cycle ambiguity errors.