Asian currency unit
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The Asian currency unit or ACU ( Engl. Asian Currency Unit ) is a proposed common currency unit for the ten countries of ASEAN and also the People's Republic of China , Japan and South Korea . This group of states is also known as ASEAN Plus Three . The model for the ACU is the former European currency unit , which has now been replaced by the euro , which was the common accounting currency of the member states of the European Union from 1979 to 1998 .
The ACU should - at least it is currently planned - not initially serve as an actual currency, but rather form a so-called currency basket , a weighted summary of the individual East Asian currencies. This basket is intended to show regional exchange rate fluctuations. So the ACU is more of a statistical index than a currency.
The Asian Development Bank is currently examining several options regarding the technical implementation for calculating the ACU, on the one hand the basic type of currency basket and the choice between fixed weightings and fixed exchange rates, and on the other hand the exact selection of the currencies to be included in the ACU the weightings, the criteria for the periodic reviews of the weightings and other aspects. After the review process is complete, the Asian Development Bank plans to publish some indexes for the ACU on its website.
The introduction of the currency unit was originally planned for 2006, but this goal was not achieved and the introduction was postponed indefinitely.
Web links
- Report on the ACU (Chinese)
- Interview with a representative of the Asian Development Bank (February 24, 2006)