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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 .
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Before the crisis, the exchange rate between the rupiah and the dollar was roughly 2,600 rupiah to 1 U.S. dollar. [48] The rate plunged to over 11,000 rupiah to 1 U.S. dollar on 9 January 1998, with spot rates over 14,000 during 23–26 January and trading again over 14,000 for about six weeks during June–July 1998.
This is an accepted version of this page This is the latest accepted revision, reviewed on 25 February 2025. There is 1 pending revision awaiting review. Economy of Thailand Bangkok, the commercial hub of Thailand Currency Thai baht (THB, ฿) Fiscal year 1 October – 30 September Trade organisations WTO, APEC, IOR-ARC, ASEAN, RCEP Country group Developing/Emerging Upper-middle income economy ...
Estimates of tourism receipts directly contributing to the Thai GDP of 12 trillion baht range from 9 per cent (1 trillion baht) (2013) to 16 per cent. [225] When including the indirect effects of tourism, it is said to account for 20.2 per cent (2.4 trillion baht) of Thailand's GDP. [226]: 1
In 1963, the Thai government established the Exchange Equalization Fund (EEF) with the purpose of playing a role in stabilizing exchange rate movements. It linked to the U.S. dollar by fixing the amount of gram of gold per baht as well as the baht per U.S. dollar. Over the course of the next 15 years, the Thai government decided to depreciate ...
See how our 2023 rate forecast performed. Last year was another volatile year for interest rates. The 30-year fixed-rate mortgage technically closed out 2023 just 19 basis points above its ...
US Dollar Index and major financial events. The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, [1] often referred to as a basket of U.S. trade partners' currencies. [2]