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6. F ollowing are some statistics for Malaysia, the Philippines, and the United States. Inflation Rates: Annual Rates in Percent per Year 1991 1992 1993

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6. F ollowing are some statistics for Malaysia, the Philippines, and the United States. Inflation Rates: Annual Rates in Percent per Year 1991 1992 1993 1994 1995 1996 Malaysia Philippines United States 4.69 3.57 3.71 5.28 3.56 18.70 8.93 7.58 9.06 8.11 8.41 4,23 3.08 3.00 261 2.81 2.34 Exchange Rate per U.S. Dollar: Annual Average 1991 Malaysia Philippines 1992 1993 1994 1995 1996 2.75 2.55 2.57 2.62 2.50 2.52 27.48 25.51 27.12 26.4225.71 26.22 In 1997, Malaysia and the Philippines suffered a severe currency crisis. Use the numbers in the preceding tables to provide a partial explanation

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