7. Asian Pacific Crisis. The Asian financial crisis that began in July 1997 wreaked havoc throughout the cur- rency 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? July 1997 (per US$) (per US$) Nov 1997 Country and Currency China yuan 8.40 8.40 Hong Kong dollar Indonesia rupiah 7.75 7.73 2,400 3,600 Korea won 900 1,100 Malaysia ringgit 2.50 3.50 Philippines peso 27 34 Singapore dollar 1.43 1.60 Taiwan dollar 27.80 32.70 Thailand baht 25.0 40.0

7. Asian Pacific Crisis. The Asian financial crisis that began in July 1997 wreaked havoc throughout the cur- rency 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? July 1997 (per US$) (per US$) Nov 1997 Country and Currency China yuan 8.40 8.40 Hong Kong dollar Indonesia rupiah 7.75 7.73 2,400 3,600 Korea won 900 1,100 Malaysia ringgit 2.50 3.50 Philippines peso 27 34 Singapore dollar 1.43 1.60 Taiwan dollar 27.80 32.70 Thailand baht 25.0 40.0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

7. Asian Pacific Crisis. The Asian financial crisis that
began in July 1997 wreaked havoc throughout the cur-
rency 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?
July 1997 Nov 1997
(per US$) (per US$)
Country and Currency
China yuan
8.40
8.40
Hong Kong dollar
Indonesia rupiah
7.75
7.73
2,400
3,600
Korea won
900
1,100
Malaysia ringgit
2.50
3.50
Philippines peso
27
34
Singapore dollar
1.43
1.60
Taiwan dollar
27.80
32.70
Thailand baht
25.0
40.0

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