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This paper discusses the impact of the currency crisis. On July 2, 1997 Thailand devalued its currency against the dollar, leading to a currency crisis that has led to devaluation's in Indonesia, Malaysia, South Korea, Russia, and Brazil. In our overview, we wi ....

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.... Also affected are the private sectors and the countries banking system. The private sector carries huge debt because of the crisis. Andrew Maule a banking analyst at ABN Amro Asia Securities states, "It's quite realistic to assume that non-performing loans will hit 50 percent. Ultimately there will have to be a bailout." 1 The banks are looking at the government to bail them out but as of December 30, 1998 no banks had requested government aid. At the beginning of the crisis in July, the baht was at B25.90/US$ and is currently at B36.90/US$ signifying a decrease of 29.81%. Malaysia In July of 1997, the Malaysian ringgit was at MR2.5200/US$. ....