The aim of this study is to adopt the modified basket currency regressions model and the level of analysis technique to dig for causes behind the changed positions of Asian anchor currencies in the period before and after the global financial tsunami. We discovered that the positions of Asian anchor currencies are the U.S. dollar first, the RMB second, and then the Euro; If the U.S. dollar is not taken into account, the Asian region has become a RMB zone. Particularly after 2010, the Chinese government started to accelerate its RMB internalization policies, many Asian countries have responded to it and increased the weight of the RMB in their currency basket. The factors which have caused such important changes are that, while Asian countries commonly faced the threat of U.S. dollar hegemony and the uncertainty of Asian regional monetary integration; China and other Asian countries have integrated economically and financially more than before and China has successfully adopted monetary power to persuade Asian countries to accept and use the RMB as a currency for trade and foreign reserves. Therefore, pegging the exchange rate with the RMB is in the common interest of most Asian countries.