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[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 baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It rose to 30 per dollar in January 2021.
American investment, concentrated in the petroleum and chemicals, finance, consumer products, and automobile production sectors, is estimated at US$21 billion. As of 2021, "Thailand remains on the US Trade Representative's (USTR) watch list (WL) as it attempts to suppress intellectual property (IP) violations and online piracy", according to ...
However, Thailand lacked the foreign reserves to support the USD–Baht currency peg, and the Thai government was eventually forced to float the Baht, on 2 July 1997, allowing the value of the Baht to be set by the currency market. This caused a chain reaction of events, eventually culminating into a region-wide crisis. [40]
These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g., the U.S. dollar, the euro, the pound sterling, the Japanese yen, the Swiss franc, the Indian rupees and the Chinese renminbi) and which are used to back its liabilities (e.g., the local ...
List of all Asian currencies Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1]: RUB Abkhazia ...
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
Guernsey pound – Guernsey (not an independent currency) Haitian pound – Haiti; Irish pound – Ireland; Israeli pound – Israel; Italian pound – Italy; Jersey pound – Jersey (not an independent currency) Lebanese pound – Lebanon; Libyan pound – Libya; Lombardo-Venetian pound – Lombardy–Venetia; Luccan pound – Lucca ...