When a speculative attack on the exchange value of a currency results in a sharp depreciation in the value of a currency,a(n)_____ has occurred.

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A currency crisis occurs when a speculative attack on the exchange value of a currency leads to a sudden and significant depreciation in its value. This can happen when investors and speculators believe that a currency is overvalued or when they lose confidence in a country's economy or government policies. This can lead to a decrease in foreign investment, capital flight, and potentially inflationary pressures. A currency crisis can also trigger other economic problems, such as a banking crisis or foreign debt crisis.

When a Speculative Attack on the Exchange Value of a Currency