AMERO – The Proposed North American Currency

According to reports, North American countries may have been thinking of following the European example of one single currency.

There has been some consideration recently towards creating one currency – the amero – which, like the euro, would be used in more than one country: the United States, Canada and Mexico.

At present, the plan may not be realistic as the Mexican economy is not as developed as those of the US and Canada. Moreover, it could also have a negative effect on international financial transactions, which are predominately carried out in US dollars.