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From 1956 until 1973, the baht was pegged to the US dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. [ 9 ] [ 10 ] A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis .
The economy of Thailand is dependent on exports, which accounted in 2021 for about 58 per cent of the country's gross domestic product (GDP). [25] Thailand itself is a newly industrialized country, with a GDP of 17.922 trillion baht (US$514.8 billion) in 2023, the 9th largest economy in Asia. [26]
This is the map and list of Asian countries by monthly average wage (annual divided by 12 months) gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar. The chart below reflects the average (mean) wage as reported by various data providers.
The Bank of Laos governor announced on January 25, 2012, that the Bank of Laos would issue 100,000 Kip banknotes as a regular issue on February 1, 2012 (but dated 2011) to encourage Lao people to use the national currency instead of U.S. dollars and Thai baht. [13] [14] [15] As of 2019, the ₭500 note is the smallest one commonly in circulation.
The one baht note was replaced by a coin in 1957 and the five baht was replaced in 1972. 50 baht notes were again reintroduced in 1985, with the 10 baht note replaced by a coin in 1988. The EURion constellation has been used on the reverse of 100 and 1000 baht notes since 2003.
A 33-million baht contract to install a new sign with the station's new ceremonial name was put on hold in January 2023 following public concern about the price. [18] Intercity services began operation from the station on 19 January 2023, with 52 long-distance trains which originally terminated at Bangkok (Hua Lamphong) moved to the station. [19]
On 7 September 2013, Airports of Thailand announced its three billion baht renovation to reopen Terminal 2 as early as May 2014. Terminal 1's passengers in 2013 will likely reach 16 million against its capacity of 18.5 million. Completion of Terminal 2 in December 2015 increases Don Mueang's passenger capacity to 30 million a year. [22]
The one-baht coin is a denomination coin of the Thai baht, the Thai currency unit. Like all coins in Thailand, its obverse features the King of Thailand, ...