Asian Currency Unit

Asian Currency Unit

The Asian Currency Unit (ACU) is a proposed weighted index of currencies for ASEAN+3. The ACU was inspired by the now defunct European Currency Unit, replaced by the Euro. The Asian Currency Unit's purpose is to help stabilize the region's financial markets.

ASEAN+3 is composed of the member countries of ASEAN, the People's Republic of China, Japan, and Republic of Korea.

The ACU as it is proposed is a currency basket and not a real currency , i.e., a weighted index of East Asian currencies that will function as a benchmark for regional currency movements.

Asian Development Bank research

The Asian Development Bank is currently reviewing different options concerning the technical aspects related to the ACU calculation, including the nature of the basket, the choice of fixed weights vs. fixed units, the selection of currencies to be included in the basket, the choice of weights, the criteria for their periodical revision, and other aspects as well.

The Asian Development Bank was to announce the details of the ACU in March 2006 or later. However external pressures delayed this announcement although the concept was still being studied in detail [ [ ADB website: Boost for new monetary scheme - ASEAN+3 finance ministers to back Asian Currency Unit plan] ] . A panel discussion in February 2007 cited technical and political obstacles as having prevented the project from advancing [ [ The Japan Times - Japan, South Korea can pull Asia together] ] . The unit, limited to ASEAN+3, was still said to be moving forward by mid-July 2007 [ [ The Inquirer (Philippines) - Asian currency unit shaping up] ] .

ee also

* Amero
* Euro
* European Currency Unit
* Eco (currency)
* Monetary union
* African Central Bank, proposed central bank for the African Union.
* The Eco, another attempt at an African common currency, within the ECOWAS community.
* The West African CFA franc and Central African CFA franc (C.F.A.), who are exsisting currecy unions in Africa.
* East Caribbean dollar
* Khaleeji
* Afro
* World Currency Unit


External links

* [ A news report of the ACU] zh icon
* [ Interview with Asian Development Bank representative 24/02/2006]

name = Asian Currency Unit
title = Asian Currency Unit
group1 = ASEAN
list1 = Brunei dollar· nowrap| Cambodian riel· nowrap| Indonesian rupiah· nowrap| Lao kip· nowrap| Malaysian ringgit· nowrap| Myanmar kyat· nowrap| Philippine peso· nowrap| Singapore dollar· nowrap| Thai baht· nowrap| Vietnamese đồng
group2 = +3
list2 = Chinese yuan· nowrap| Japanese yen· nowrap| South Korean won
state = autocollapse

Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Asian Currency Unit — Mitgliedsstaaten der ASEAN Plus Three Die Asiatische Währungseinheit oder ACU (engl. Asian Currency Unit) ist eine vorgeschlagene gemeinsame Währungseinheit für die zehn Staaten der ASEAN sowie zusätzlich die Volksrepublik China, Japan und… …   Deutsch Wikipedia

  • Asian Currency Unit - ACU — A proposed basket of Asian currencies, similar to the European Currency Unit, which was the precursor of the Euro. The Asian Development Bank is responsible for exploring the feasibility and construction of the basket. The main obstacles to the… …   Investment dictionary

  • Asian Currency Unit — /ˌeɪʒ(ə)n kʌrənsi ˌju:nɪt/ noun a unit of account for dollar deposits held in Singapore and other Asian markets. Abbreviation ACU …   Dictionary of banking and finance

  • Asian Monetary Unit — is a basket of currencies proposed by the Japanese government s Research Institute of Economy, Trade and Industry (RIETI). It is similar to the now defunct European Currency Unit (ECU). Contents 1 AMU baskets 2 See also 3 References …   Wikipedia

  • European Currency Unit — Infobox Currency iso code = XEU using countries = European Community and later the European Union pegged with = The ECU was a basket of currencies symbol = ₠ (rare), ECU or XEU plural = usually ECUs used coins = Gibraltar issued commemorative Ecu …   Wikipedia

  • Asian Bond Markets — are growing rapidly as Asian borrowers switch away from short term bank loans towards longer term debt financing. Although Asia also includes countries of the Middle East, some CIS countries and the vast majority of the land mass of Russia and… …   Wikipedia

  • Currency — For other uses, see Currency (disambiguation). Coins and banknotes are the two most common forms of currency. Pictured are several denominations of the euro …   Wikipedia

  • Currency Basket — A selected group of currencies in which the weighted average is used as a measure of the value or the amount of an obligation. A currency basket functions as a benchmark for regional currency movements its composition and weighting depends on its …   Investment dictionary

  • Currency union — World trade A series on Trade …   Wikipedia

  • Association of Southeast Asian Nations — Philippines|flagicon|Singapore Singapore|flagicon|Thailand Thailand|flagicon|Vietnam Vietnam admin center type = nowrap|Seat of Secretariat admin center = Jakarta, Indonesia flagicon|Indonesia leader title1 = Secretary General leader name1 =… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”