Molecular interactions between chiral (nonracemic) and achiral compounds can give rise to induced circular dichroism (ICD) of the achiral counterpart, provided the latter absorbs in the UV or visible region under study. The CD spectra thus obtained are of interest as indicators of the absolute configuration of the chiral component, as well as of the orientation of the molecules relative to each other within the host–guest complex. The technique can provide unique information about supramolecular events, not only in solution but also in the solid state. The recent progress in the field is summarized in this brief review. Chirality 15:409–422, 2003. © 2003 Wiley-Liss, Inc.