The current optimal development strategy for the ASEAN countries could be to plan and establish a common financial market for the ASEAN region, to be underpinned by a
single currency and formation of a monetary union. The common currency proposed in the paper is denoted as the ASEAN Dollar. There are extensive research and academic papers in support of the positive contribution of a single currency. The US$, EURO and INR (Indian Rupee) have shown their proved strength and sustained economic growth in the regions they have been used. Therefore theoretical advocacy is not re-iterated here, and we focus on a practical application. The expected advantage of an ASEAN Dollar is an improvement in the economic strength of each ASEAN member country, resulting in an improvement in their long-term economic growth. Some of the other observed benefits in Europe, US, India and other integrated economies have been increases in trade of both goods and services; in house investment growth