81.   A proposal to use Southeast Asian currencies instead of U.S. dollars in trading in the region is not viable, a Philippine official was quoted Tuesday as saying.

82.   Agazade said Iran would ask other oil producing countries at the next OPEC meeting in June to use another currency in their oil dealings instead of the U.S. dollar.

83.   Alatas added that a more important reason for increased intra-regional co-operation was using Southeast Asian currencies rather than the US dollar.

84.   An economist from a leading brokerage house said for starters, Asian importers and exporters must first be persuaded to trade among themselves using Asian currencies.

85.   Anwar said this situation would be corrected by the Asean-proposed import agreement format, where Asean currencies are used in trade dealings instead of the greenback.

86.   Anybody can trade using their currencies.

87.   Asean leaders had also agreed to intensify trade relations and use their currencies to overcome the problem.

88.   As non-EU members, they need permission from the euro club to use the currency.

89.   Asean also proposed to Japan in their discussions that it use local currencies when trading with countries in the region.

90.   At first, the new currency will be used in various non-cash transactions for central bank and inter-bank operations.