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In July 1997, when Thailand floated the baht, Indonesia's monetary authorities widened the rupiah currency trading band from 8% to 12%. As a result, the rupiah suddenly came under severe attack in August. Therefore, on the 14th of the month, the managed floating exchange regime was replaced by a free-floating exchange rate arrangement.
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.
Across Thailand, there are thirty licensed banks which are registered with a further six being state-owned. In total they have a combined assets of 26.268 trillion baht (~ US$835.25 Billion) as of June 2019.
But the Japanese currency eased around half a yen from session highs against the dollar after the Thai news, tracking a sharp decline in the baht. Developments in Thailand overshadowed U.S. data earlier that showed a surprisingly large fall in housing starts and the rate of wholesale inflation that weighed on the dollar. The dollar had edged ...
Phra Nakhon, Bangkok, Thailand: Coordinates: Established: 28 April 1942 (legal) 10 December 1942 (began operations) Governor: Sethaput Suthiwartnarueput: Central bank of: Kingdom of Thailand: Currency: Thai baht THB Reserves: US$243.49 billion (2023) [1] Bank rate: 2.5% [2] Website
This is an accepted version of this page This is the latest accepted revision, reviewed on 24 January 2025. 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 Newly industrialized country Statistics ...
Demands for anti-counterfeiting technology, along with the aim of the Thai government to draw public attention to the deeds of the monarchs of the Chakri Dynasty compelled the Bank of Thailand to issue the Series 15 Banknotes in five denominations: 20 baht in 2003, 50 baht in polymer sheets in 1997 before being replaced by the familiar paper ...
Bangkok Bank is the only Thai bank to have a branch in Myanmar, where its Yangon Branch opened on 2 June 2015. [7] Previous logo, used from 1972 until 2023. As of April 2018 Bangkok Bank has 1,167 branches in its domestic network, [8] including self-service outlets, covering all 77 provinces in Thailand. [9]