When people talk about Southeast Asia, they often think of food, culture, or world-famous travel destinations. But have you ever stopped to think about the money in your wallet when visiting these countries?
Each ASEAN member state has its own official currency, and each one tells a story, not just of economy, but also of history, identity, and national pride.
Currency as Economic Identity
Currency is not just a tool for trade. It represents a country’s economic stability and, often, its independence. Among ASEAN’s 10 member nations, there are 10 different currencies, each with unique names and values.
Indonesia, the most populous country in the region, uses the Rupiah (IDR). Malaysia’s currency is the Ringgit (MYR), a word that originally referred to jagged edges, like those found on old Spanish coins. Singapore and Brunei Darussalam both use the dollar, Singapore Dollar (SGD) and Brunei Dollar (BND), but with separate monetary systems.
Interestingly, both countries maintain a special interchangeability agreement that allows their currencies to be accepted in each other’s markets at a 1:1 value.
From the Mekong River to the Gulf of Thailand
In Thailand, you will use the Baht (THB), a currency that has remained relatively stable and strong over the years.
Meanwhile, Viet Nam uses the Dong (VND), a currency known for its high denomination. A simple meal might cost you hundreds of thousands of Dong, though the actual cost remains affordable.
Travel further along the Mekong and you'll find Kamboja using the Riel (KHR), and Laos using the Kip (LAK). What’s unique in Cambodia is the widespread use of the US Dollar alongside its official currency, a result of dollarization that began in the 1990s.
Myanmar and the Philippines: Navigating Challenges
Myanmar’s currency is the Kyat (MMK), while the Philippines uses the Peso (PHP). These countries have faced more noticeable economic hurdles in recent years, including inflation and currency volatility.
Despite that, both governments continue working on fiscal reforms and policies to strengthen trust in their national currencies.
Why It Matters
Knowing the different currencies used across ASEAN is more than just travel trivia. In an age of remote work, regional mobility, and digital payments, understanding these currencies can make life easier for travelers, cross-border workers, and businesses alike.
It also reflects how Southeast Asia, despite its diversity, continues to grow as a connected and dynamic region. Each currency is a reflection of the people and priorities of each nation.
Diversity That Unites
From Ringgit to Riel, every ASEAN currency carries its own heritage and value. While the region does not share a common currency like the Eurozone, ASEAN countries are bound by a vision of economic cooperation and integration.
These diverse currencies are not barriers, but bridges to understanding each other’s economies and to building a stronger regional identity.
