The article is devoted to the instruments used to fight currency crises. The object of the analysis is the Asian crisis of the year 1997 and the management of the crisis situation in the following countries: Thailand, South Korea, Indonesia, Malaysia and the Philippines. Each section of the article describes experiences of analyzed countries from applying a given remedial measure (foreign exchange market intervention, monetary policy, fiscal policy). The closing part includes conclusions and reflections on potential advantages and threats resulting from the chosen method of fighting a currency crisis, which can be helpful for decision-makers responsible for resolving similar crisis situations in the future.

Keywords: bank, crisis, foreign exchange rate, interest rates, authorities.

  Piotr Chmielowski, Temporary Remedial Measures in Fighting Currency Crisis - from the Experience of Asian Tigers - plik pdf; (120 KB)