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The Currency Crisis In Thailand And Its Effects
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This paper discusses the impact of the currency crisis. On July 2, 1997 Thailand devalued its currency against the dollar, leading to a currency crisis that has led to devaluation's in Indonesia, Malaysia, South Korea, Russia, and Brazil. In our overview, we will discuss the timing of the crisis ....
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....ntly the ringgit is at 3.7999US$, showing a 33.68 decrease. After a healthy decade of more than 8% growth annually, Malaysia is bracing for a wave of bankruptcies, rising inflation and unemployment rates. More than 2600 Malaysians lost their jobs every week, according to the latest Human Resources Ministry report. Even some of the Malaysia's most successful corporations have scurried to court seeking protection against creditors. As a result, troubled banks have become wary of dishing out credi.... |
| Number of words: 991 |
Approximate pages: 4 |
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