Understanding Currency Unions: Lessons From The Euro For ASEAN Integration

A Currency Union vs. a Single Currency
Question:
Should asean countries adopt common currency?
A currency union is a state achieved when two countries come together and decide to adopt a common currency to keep the value and certain level of their currency. The main aim of the adoption of the currency union is the management and synchronization of the monetary policies of the countries (Hem, Subhash, & Puneet, 2015). A currency union is a…