Which one among the following countries, which was in the news recentl

Which one among the following countries, which was in the news recently, has lost more than 90% of the value of its currency in two years?

[amp_mcq option1=”Algeria” option2=”Lebanon” option3=”Morocco” option4=”Turkey” correct=”option2″]

This question was previously asked in

UPSC CISF-AC-EXE – 2022

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Lebanon’s currency has experienced a massive devaluation since late 2019, losing well over 90% of its value against the US dollar in the informal market due to a severe economic and financial crisis. This has led to hyperinflation and widespread poverty.

– Lebanon faced a major economic crisis starting in 2019.
– The Lebanese pound’s value plummeted dramatically on the black market.
– The crisis was driven by a combination of factors including political instability, unsustainable debt, and a failing financial system.

While other countries like Turkey have also faced significant currency depreciation in recent years, Lebanon’s currency collapse has been one of the most drastic globally in the specified timeframe, exceeding 90% loss in value.

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