The East Asian exchange rate crisis of the late 1990s resulted in a greater number of countries with pegged exchange rates.

Question

Quizplus · Accepted Answer

The East Asian exchange rate crisis of the late 1990s actually led to many countries abandoning their pegged exchange rates in favor of floating their currencies. This was because the pegged exchange rates had caused imbalances in the economy, leading to unsustainable levels of debt and financial instability.

The East Asian Exchange Rate Crisis of the Late 1990s