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Asian Pacific Crisis. The Asian financial crisis that began in July 1997 wreaked havoc throughout the currency markets of East Asia. a. Which of the
Asian Pacific Crisis. The Asian financial crisis that began in July 1997 wreaked havoc throughout the currency markets of East Asia. a. Which of the following currencies had the largest depreciations or devaluations during the July to November period? b. Which seemingly survived the first five months of the crisis with the least impact on their currencies? (Click on the icon to import the table into a spreadsheet.) Country China yuan Hong Kong dollar Indonesia rupiah Korea won Malaysia ringgit Philippines peso Singapore dollar Taiwan dollar Thailand baht July 1997 (per US$) 8.40 7.75 2,400 900 2.50 27 1.43 27.80 25.0 November 1997 (per US$) 8.40 7.73 3,600 1,100 3.50 34 1.60 32.70 40.0
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