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Asian Monetary Unit

 

Asian Monetary Unit

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).

The Asian Monetary Unit (AMU), which has been created as the joint project of 21st century COE project of Hitotsubashi University and RIETI, is a common currency basket composed of 13 East Asian currencies, such as ASEAN 10 plus Japan, China and South Korea. These data have started to be published on the website of RIETI since September 2005. After 4 years passed, a common currency basket composed of 13 AMU currencies plus three another countries, Australia, New Zealand and India, which are strongly connected with Asian countries, is newly created as "AMU-wide". The AMU-wide, which is a common currency basket composed of wider range of currencies, will be expected to utilize as a surveillance indicator corresponding to the extensive regional economies.

The calculation methodology of the AMU-wide and AMU-wide Deviation Indicators are same as those of the AMU. The benchmark period is defined as:

  • the total trade balance of member countries
  • the total trade balance of the member countries (excluding Japan) with Japan,
  • the total trade balance of member countries with the rest of world

should be relatively close to zero.[1]

Contents

  • AMU baskets 1
  • See also 2
  • References 3
  • External links 4

AMU baskets

The AMU is a basket composed of 13 currencies, and AMU-wide is composed of 16 currencies.[2]

AMU-wide
Country Currency
Brunei Brunei dollar
Cambodia Cambodian riel
Indonesia Indonesian rupiah
Laos Lao kip
Malaysia Malaysian ringgit
Myanmar Burmese kyat
Philippines Philippine peso
Singapore Singapore dollar
Thailand Thai baht
Vietnam Vietnamese đồng
China Chinese Yuan (Renminbi)
Japan Japanese yen
South Korea South Korean won
Australia Australian dollar
New Zealand New Zealand dollar
India Indian rupee

See also

References

  1. ^ The purpose to create a new data of Asian Monetary Unit with ASEAN 10 plus 3 (Japan, China and South Korea) plus 3 (Australia, New Zealand and India) - AMU-wide
  2. ^ The purpose to create a new data of Asian Monetary Unit with ASEAN 10 plus 3 (Japan, China and South Korea) plus 3 (Australia, New Zealand and India) - AMU-wide

External links

  • Daily value of AMU from RIETI
  • AMU (Asian Monetary Unit) and AMU Deviation Indicators
  • ASEAN mulls single currency
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