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Exchange Rate Coordination in Asia: Evidence Using the Asian Currency Unit

Abhijit Sen Gupta

Asian Development Bank

April 20, 2012

ADBI Working Paper 356

This paper evaluates the extent of exchange rate coordination among Asian economies using a hypothetical Asian Currency Unit. Rising interdependence among Asian economies makes it vital for these economies to have a certain degree of exchange rate stability. However, the empirical evidence using an Asian Currency Unit suggests a widening deviation in exchange rate movements of the Asian currencies. The deviation has been driven by the adoption of different exchange rate regimes by the participating countries indicating diverse policy objectives.

Number of Pages in PDF File: 31

Keywords: exchange rate coordination, Asia, Asian currency unit, exchange rate regimes

JEL Classification: F36, F55, F15

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Date posted: April 20, 2012  

Suggested Citation

Gupta, Abhijit Sen, Exchange Rate Coordination in Asia: Evidence Using the Asian Currency Unit (April 20, 2012). ADBI Working Paper 356. Available at SSRN: http://ssrn.com/abstract=2043017 or http://dx.doi.org/10.2139/ssrn.2043017

Contact Information

Abhijit Sen Gupta (Contact Author)
Asian Development Bank ( email )
6 ADB Avenue, Mandaluyong City 1550
Metro Manila
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