The Amero is a hypothetical common currency proposed to replace the U.S. dollar, Canadian dollar, and Mexican peso within a potential North American monetary union, modeled after the European Union's euro.
The concept was first introduced by Canadian economist Herbert Grubel in 1999, who argued that a shared currency could reduce transaction costs, eliminate exchange rate risk, and boost trade among the three nations.
Some studies suggest it could save up to $3 billion annually in currency transactions and potentially increase Canada's GDP by up to 33% over 20 years
