KL's currency plan 'agreed'

KL's currency plan 'agreed'

KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir
Mohamad said over the weekend that some Southeast Asian countries
have expressed support for a plan to conduct trade in regional
currencies.

Asked if he had garnered a consensus from leaders in Bangkok,
Manila, Singapore and Bandar Seri Begawan during his recent
visits to talk about the region's economy and the currency plan,
Mahathir said: "Everybody has agreed."

"We are getting them (the leaders) to work out the mechanics
of the whole thing. Whether they use one currency, that is for
them to decide," he told reporters after opening a meeting of a
political party.

Mahathir was referring to the possible use of the Singapore
dollar as the currency peg for regional trading instead of the
U.S. dollar, which has appreciated sharply against Asian
currencies in recent months.