ADB: Regional Currency Long-Term Issues
Finance August 12th, 2010
Finance Minister Sri Mulyani said the need to remove the dependency on the countries of Asia against the dollar. Responding to that, Rajat Nag, ADB Managing Director General said that the issue of regional currencies is something which can be solved in the long run.
“In the short term, there are some other things that can be done,” Nag said in a press briefing on Indonesia, at Surabaya Room, Westin Hotel, Nusa Dua, Bali, Sunday (3/5/2009).
Even so, Nag said, the ADB has several times expressed the need for a regional common currency. According to him, foreign currency such as dollars for it has put pressure on the local currency.
Previously reported, Sri Mulyani said it was time for the Asian region to reduce dependence on the dollar to reduce the pressure on the economy.
While Director of Retail Banking of Bank Mega Kostaman Thayib argues, reliance on the use of the dollar in Asia is still quite large. We have pioneered granted interstate commerce in Asia, especially Southeast Asia, which do not use that currency.
According to him, this time almost all transactions using the dollar currency. In fact, sometimes do not export anything to do with currency Uncle Sam’s country. By using the local currency, according to him, the currency fluctuations will not be too large.
