An alternative common currency for Asean trade.

Abstract

The Asian economic crisis has sparked off much discussion on the over-reliance of the ASEAN economies on the US dollar. Purpose of this report is to give an overview of the various alternatives available to ASEAN members in resolving this problem. In this report, we will present three alternatives–the long-term alternative of implementing a unified ASEAN currency; and the short-term alternatives of adopting the Japanese Yen or Singapore dollar as the alternative common currency for ASEAN trade.