A situation where a country's currency is devalued or depreciated which leads to high inflation, capital flight, and economic recession. Examples of such crises include the Mexican peso crisis of 1994 and the Asian financial crisis of 1997.
A situation where a country's currency is devalued or depreciated which leads to high inflation, capital flight, and economic recession. Examples of such crises include the Mexican peso crisis of 1994 and the Asian financial crisis of 1997.