10 ASEAN Countries To Ditch the U.S. Dollar
The Association of Southeast Asian Nations ( ASEAN ) countries are looking to promote local currencies for trade and ditch the U.S. dollar for cross-border transactions. ASEAN consists of 10 countries and their economies are fast developing in the global sphere. This puts the USD under pressure, as several developing countries including the ASEAN bloc are looking to end reliance on the U.S. dollar. Also Read: BRICS Pays $4,000,000,000 in Local Currency , Sidelines US Dollar ASEAN: 10 Countries Look To Stop Using the U.S. Dollar, Settle Trade Payments in Local Currencies Instead Source: orfonline.org The 10 ASEAN countries that are looking to stop using the U.S. dollar for trade are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. According to the latest figures from the International Monetary Fund (IMF), commonly called the World Bank, the combined GDP of ASEAN nations currently stands at around $4 trillion. Also