  Using data from a sample of 28 representatives countries, we propose a
classification of currency crises consequences based on the ultrametric
analysis of the real exchange rate movements time series, without any further
assumption. By using the matrix of synchronous linear correlation coefficients
and the appropriate metric distance between pairs of countries, we were able to
construct a hierarchical tree of countries. This economic taxonomy provides
relevant information regarding liaisons between countries and a meaningful
insight about the contagion phenomenon
