Common Currency Basket For East Asia Proposed

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At the  Network of East Asian Think-Tanks (Neat)’s  meeting chairman Datuk Seri Mohamed Jawhar Hassan advised that a  COMMON currency basket,similar to that used in the European Union (EU),has been proposed for East Asian countries.

 The common currency basket is one of the recommendations made at the meeting,themed “East Asia Cooperation:The Next Ten Years”.

Besides this,there is another recommendation to establish an East Asian Finance Association made up of representatives from central banks and financial supervisors,such as securities and exchange commissions and private financial institutions.

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