And it was the start of what became known as the Asian currency crisis in 1997-98.
We have to understand that this crisis is not a currency crisis as such.
This would mean giving money to countries in advance of a full-blown currency crisis.
The moment of no return, in any currency crisis, doesn't come when governments run out of options.
Egypt faces the threat of a currency crisis after the Egyptian pound hit its lowest level in eight years.
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Throughout the region a boom-bust cycle in asset prices preceded the currency crisis.
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Europe has been in the headlines of over two years now because of its currency crisis and sovereign debt woes.
In our own analysis of our problem, we feel the currency crisis is both the product of internal and external factors.
It has yet to recover from its currency crisis in 1997, when interest rates were raised sharply to defend the koruna.
Hong Kong, Australia, Thailand, Malaysia and Indonesia have pledged to bail each other out in the event of a currency crisis.
We are in a global market, currency crisis, stagnant congress, monetizing debt, All factors worthy of consideration when deciding what to do.
Also, he added, many traders do not want to be short of gold if there were to be a full-blown currency crisis.
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Rising interest rates hold the potential to spark a sovereign debt and currency crisis that will render the entire plan irrelevant anyway.
Mr. Sokol entered Mr. Buffett's world when MidAmerican shares tumbled after several geothermal projects in Indonesia were delayed amid the Asian currency crisis.
Along with our Treasury Department, this agency has been prolonging, deepening the currency crisis that is roiling more and more of the world.
The stock market looked overvalued in early 1998, with a currency crisis under way in Asia and Alan Greenspan beginning to hike interest rates.
On the other hand, when governments have credit problems, the effect is inflationary because a debt crisis will often times develop into a currency crisis.
An increasing global currency crisis causes money to flee to safety.
Can you assess the overall currency crisis on the ASEAN region?
Electronic Arts faced a currency crisis last year when hackers figured out how to make unlimited amounts of "gold" used to buy items on Ultima Online.
Despite warnings that the Brazilian currency crisis could set back Asia's fragile progress toward recovery, the jolt only briefly reversed a months-long rally in most Asian markets.
Of these balloons, 44 popped badly (resulting in a banking crisis, currency crisis or both) and another 13 very badly, with a 9% contraction of GDP on average.
"There are the questions of the impact of the Asian currency crisis on China and the effectiveness of the Japanese fiscal stimulus, " says Philippine Central Bank Governor Gabriel Singson.
Investors will be faced with dramatic distortions looming in the post-crisis global economy as a result of this failure to come to terms with the currency crisis and trade imbalance.
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Much of South-East Asia has been hit by a currency crisis, just as India's economic reforms are at last making the world's second most populous country a promising place to invest.
Two years after the Asian currency crisis abruptly slammed booming economies into reverse and threatened a global recession, there has been much talk about reforming the international financial architecture, but less action.
The 10 year Treasury yield had declined from above 6% to 4.5% during that period, a level not seen since 1967, other than a brief period near the Russian currency crisis in 1998.
They happen whether they are due to our elected leaders failing to reach an agreement regarding the Fiscal Cliff or the credit markets freezing up or a currency crisis or a large hedge fund imploding.
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