Question:
Who is known as 'The Man Who Broke the Bank of England' after he made a reported $1 billion during the 1992 Black Wednesday UK currency crisis?
Who is known as 'The Man Who Broke the Bank of England' after he made a reported $1 billion during the 1992 Black Wednesday UK currency crisis?
Updated On: Aug 20, 2025
- George Soros
- George W Bush
- Paul Volcker
- Ben Bernanke
Hide Solution
Verified By Collegedunia
The Correct Option is A
Solution and Explanation
During the 1992 Black Wednesday UK currency crisis, George Soros earned notoriety as 'The Man Who Broke the Bank of England.' This event highlighted his significant impact during the financial upheaval. Soros famously bet against the British pound, betting on its devaluation. The bet paid off when the UK government withdrew the pound from the European Exchange Rate Mechanism (ERM) after failing to keep it above its agreed lower limit. This economic maneuver earned Soros a reported $1 billion in profits, cementing his reputation in financial history.
| Option | Explanation |
|---|---|
| George Soros | The correct answer, known for his significant financial gain during the 1992 crisis. |
| George W Bush | Incorrect, as he was not related to the event. |
| Paul Volcker | Incorrect, he was more prominently known for his role in the US Federal Reserve. |
| Ben Bernanke | Incorrect, he was a former chairman of the Federal Reserve but not associated with Black Wednesday. |
Was this answer helpful?
0
0
Top Questions on Business and Economy
Match the following airlines with the countries where they are headquartered.
Airlines Countries 1. AirAsia A. Singapore 2. AZAL B. South Korea 3. Jeju Air C. Azerbaijan 4. Indigo D. India 5. Tigerair E. Malaysia - XAT - 2025
- General Awareness
- Business and Economy
- Which term is commonly used to describe the strategy employed by firms where they reduce the product size or quality while maintaining the same price?
- XAT - 2025
- General Awareness
- Business and Economy
- Which company recently acquired MGM Studios to enhance its streaming service content?
- XAT - 2025
- General Awareness
- Business and Economy
- Enumerate the social responsibilities Puneet has to undertake towards Government, Employees, Society and Customers.
- CBSE CLASS XII - 2025
- Business Administration
- Business and Economy
- Explain in detail how the business enterprises are using Information Technology in different functional areas of business.
- CBSE CLASS XII - 2025
- Business Administration
- Business and Economy
View More Questions
Questions Asked in SNAP exam
- Statement: Company has made it Compulsory to mark online attendance using facial recognition software — Notice in an office.
Assumptions: 1) Notice will be read 2) Online attendance will benefit the company- SNAP - 2024
- Logical Reasoning
- Three thieves M, B and V each make one statement; only one statement is true.
M: I am innocent. B: I am innocent. V: B is involved.
Who was involved in the robbery?- SNAP - 2024
- Logical Reasoning
- Statements: Some \(M\) are \(L\). All \(H\) are \(W\). Some \(W\) are \(M\).
Conclusions:
I. All \(M\) are \(W\)
II. Some \(H\) are \(L\)
III. Some \(W\) are \(H\)- SNAP - 2024
- Logical Reasoning
- If it is possible to make a meaningful word with the second, the fifth and the eighth letters of the word ‘CARETAKER’, which of the following will be the first letter of that word? If no such word can be made, give X as answer. If more than one such word can be made, give M as the answer.
- SNAP - 2024
- Reasoning
- Narmada Bachao Andolan : Medha Patkar :: Bhudan Andolan : ?
- SNAP - 2024
- Reasoning
View More Questions