The East Asian currency crisis of 1997 was a result of

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The East Asian currency crisis of 1997 was caused by central banks running out of foreign currency reserves. Many East Asian countries, such as Thailand and South Korea, were heavily reliant on foreign investment and had large amounts of foreign debt. When investors began to lose confidence and pull their money out of these countries, the central banks were unable to maintain their currency's fixed exchange rate and were forced to devalue their currencies. This caused a domino effect throughout the region, leading to widespread economic and financial turmoil.

The East Asian Currency Crisis of 1997 Was a Result