An Asian Currency Unit (ACU) index is constructed using an alternative procedure which minimizes a basket or portfolio of assets expressed in terms of national currencies. Using this estimated ACU index and an ACU Deviation Indicator, the main finding of this study based on the current...

¡°Pegging the Singapore dollar to a basket of currencies instead of a fixed rate to the US dollar and having a transparent system were claimed by the government of Singapore to have enabled the country to weather the Asian financial crisis better. This empirical paper reviews the claim by...

Cambodia has never officially adopted the U.S. dollar or other foreign currency as means for transaction, unit account or store of value. Yet, over the past decade, the country has become one of the most “dollarized” economies in the world. The objective of this study is to provide some...