FINANCIAL MARKETS
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FINANCIAL MARKETS On July 11th, the Philippines joined Thailand in allowing its currency to float. The peso fell 10.5% in the week ending July 16th. After vigorously defending the ringgit, Malaysia also allowed its currency to fall. It lost 2.7% during the week. The Polish zloty lost 3.7% on July 15th as fears mounted of an attack on the currency.
This article appeared in the Economic & financial indicators section of the print edition under the headline “FINANCIAL MARKETS”
From the July 19th 1997 edition
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