What Is an Asian Currency Unit (ACU)?
A proposed basket of Asian currencies, similar to the European Currency Unit, which was the precursor of the euro. The Asian Development Bank is responsible for exploring the feasibility and construction of the basket.
Understanding Asian Currency Units (ACU)
The ACU was a proposed currency basket for the currencies of Asian countries that would include China, Japan, South Korea, Indonesia, Malaysia, and Singapore.
Some of the obstacles to the creation of an Asian Currency Unit include the currencies that would be included meaning the severe misalignments between the various regional currencies. There have been a number of financial instruments that use baskets of Asian currencies, but these are individually constructed and are not sponsored or used as a means of exchange in the countries represented.