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Quiz about It Takes Won to Know Won
Quiz about It Takes Won to Know Won

It Takes Won to Know Won Trivia Quiz


The concept of the Asian Monetary Unit was published in 2005 by the Japanese government body known as RIETI. The theory proposed the creation of a common monetary unit using a basket of 13 Asian currencies.

A collection quiz by pollucci19. Estimated time: 3 mins.
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Author
pollucci19
Time
3 mins
Type
Quiz #
414,187
Updated
Oct 16 23
# Qns
10
Difficulty
Easy
Avg Score
8 / 10
Plays
362
Awards
Top 35% Quiz
Last 3 plays: Guest 71 (4/10), Guest 174 (6/10), daveguth (9/10).
Identify ten of the Asian currencies that were proposed for the initial basket. The incorrect answers are African currencies.
There are 10 correct entries. Get 3 incorrect and the game ends.
Kyat Dalasi Peso Pula Yuan Dirham Riel Yen Dinar Kip Dong Cedi Rand Kwacha Naira Baht Rupiah Nakfa Ringgit

Left click to select the correct answers.
Right click if using a keyboard to cross out things you know are incorrect to help you narrow things down.

Most Recent Scores
Oct 30 2024 : Guest 71: 4/10
Oct 30 2024 : Guest 174: 6/10
Oct 30 2024 : daveguth: 9/10
Sep 28 2024 : joker0321: 6/10
Sep 13 2024 : xxFruitcakexx: 0/10
Sep 07 2024 : shvdotr: 7/10

Quiz Answer Key and Fun Facts
Answer:

RIETI stands for the Research Institute of Economy, Trade and Industry. The idea of the Asian Monetary Unit (AMI) was created in 2005 along the same lines as the European Monetary Unit, which was the precursor to the Euro common currency. It is important to note that this concept (some eighteen years later) remains purely an academic exercise and it has no real traction among Asian governments.

The original idea, which was also promoted by the Asian Development Bank, set its sights on creating a common regional currency. The belief was that it would better foster free trade within the region. It was also argued that it would strengthen and stabilize regional currencies and exchange rates, reduce regional competitive devaluations and, in the process, dampen the area's dependence on the US dollar.

The proposed "basket" of currencies was to be the following:
Cambodian riel
Chinese Yuan
Indonesian rupiah
Japanese yen
Lao kip
Malaysian ringgit
Burmese kyat
Philippine peso
Thai baht
Vietnamese dong

Also included but, for the purpose of this quiz, we'd omitted the Brunei and Singapore dollars, as it was considered that they may cause some confusion and the South Korean won as it was in the title of the quiz. There were also thoughts by RIETI to include in this basket the currencies of India, Australia and New Zealand because of their strong trade connections in the region.

For the record, the nine incorrect currencies were Rand (South Africa), Dinar (Tunisia), Kwacha (Zambia), Naira (Nigeria), Cedi (Ghana), Pula (Botswana), Dirham (Morocco), Nakfa (Eritrea) and Dalasi (Gambia).
Source: Author pollucci19

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