Which of the following factors triggered the 1994-95 Mexican Peso crises?

Question

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The 1994-95 Mexican Peso crises was primarily triggered by a sharp devaluation of the peso. The peso was artificially overvalued and its exchange rate was fixed, leading to its sudden devaluation. This, in turn, caused a severe financial crisis in Mexico and had ripple effects throughout the global financial system. While factors such as a rise in oil prices and a decline in semiconductor prices may have played a role, they were not the primary trigger for the crisis. The flexible exchange rate regime was not a factor at the time as the peso was fixed.

Which of the Following Factors Triggered the 1994-95 Mexican Peso