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.
AMU baskets
The AMU is a basket composed of 13 currencies, and AMU-wide is composed of 16 currencies.
| 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 | Renminbi |
| Japan | Japanese yen |
| South Korea | South Korean won |
| Australia | Australian dollar |
| New Zealand | New Zealand dollar |
| India | Indian rupee |
Credit From : http://en.wikipedia.org/wiki/Asian_Monetary_Unit
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