Common currency for Asia “now or never”

This paper examines the best common currency criteria for Asian countries through the regional cooperation in trade and investment, political and economic integration and investigates the benefits of a common currency by which the money inflows from developed countries to reduce the exchange rate fluctuation. Further this could help to increase the trade within region. The paper also elaborates the role of a common currency in Asia for achieving an increased GDP growth for all countries within the region, which is necessary to reduce the poverty in the region. Finally the paper critically analyzes the strategies, time frame and decision making policies to functionalize the common currency in Asia. It is observed from proposed policies that the common currency would bring the increase in trade, political stability and poverty reduction in the member countries within the region.