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[ClarissaMach]

This is part of the text "The Asian Financial crisis of 1997-1998 and the behavior of Asian Stock Markets", by Urbi Garay. I'd like to understand the meaning of a few expressions, in bold:

These financial and asset price crises also set the stage for this second sub-period of large currency depreciations. This time, not only the currencies of Thailand, the Philippines, Malaysia, Indonesia and Singapore were affected, but those of South Korea and Taiwan also suffered. In fact, the sharp depreciation of Korea�s Won beginning in early November added a new and more troublesome dimension to the crisis given the significance of Korea as the eighth largest economy in the world; the magnitude of the depreciation of its currency which took place in less than two months; and the Korean Central Bank�s success in maintaining the peg ever since the Thai�s first devaluation (i.e. the �nominal anchor� of the largest of the Asian Tigers was suddenly lost). In addition, was the other important component of this second sub-period: the complete collapse of the Indonesian Rupiah that started at about the same time.
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Stormy Weather.

[Bob S.]

[ClarissaMach]

Thanks a lot, Bob!!!
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Stormy Weather.