Which one of the following countries suffered the least in terms of depreciation of the currency in the…
“Singapore” experienced the least currency depreciation among these four during the 1997–98 East Asian crisis. “Thailand” suffered a major baht devaluation, “Indonesia” a…
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Which one of the following countries suffered the least in terms of depreciation of the currency in the East Asian currency crisis ?
Answer and explanation
Correct answer B
“Singapore” experienced the least currency depreciation among these four during the 1997–98 East Asian crisis. “Thailand” suffered a major baht devaluation, “Indonesia” a much more severe rupiah collapse, and “Philippines” a substantial peso depreciation. The comparison is qualitative; exact endpoints and percentage changes are not specified.
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UGC NET Economics