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      Question

      East Asian Financial Crisis occurred in the year:

      A 1992 Correct Answer Incorrect Answer
      B 1995 Correct Answer Incorrect Answer
      C 1997 Correct Answer Incorrect Answer
      D 2003 Correct Answer Incorrect Answer
      E 2008 Correct Answer Incorrect Answer

      Solution

      The 1997 East Asia Financial Crisis affected most β€˜tiger’ economies of South East Asia. This was trigger due to rapid outflow of foreign currency by investors. These countries had 100% convertibility in both capital and current account. But they did not have enough forex reserve to pay for this massive outflow. There were some other reasons as well. Β 

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