Search results
Results from the WOW.Com Content Network
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.
From 1985 to 1996, Thailand's economy grew at an average of over 9% per year, the highest economic growth rate of any country at the time. Inflation was kept reasonably low within a range of 3.4–5.7%. [39] The baht was pegged at 25 to the U.S. dollar. On 14 and 15 May 1997, the Thai baht was hit by massive
The Thai government initially attempted to protect the Baht by buying it back and expending its international reserves, but was ultimately forced to float the currency. [6] In August 1997, the IMF unveiled a relief package for Thailand that would offer a total of 17.2 billion US dollar's worth of bilateral and multilateral assistance.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 10 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 ...
List of all Asian currencies Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1]: RUB Abkhazia ...
Series 5 were printed by the Note Printing Works of Japan in seven denominations including 50 satang, 1 baht, 5 baht, 10 baht, 20 baht, 100 baht and 1000 baht starting in 1942. [ 10 ] Series 6 were by the Royal Thai Survey Department and the Naval Hydrographic Department in two denominations including 20 and 100 baht, each with two types.
At the end of 1997, Thailand was hit by currency speculators, and the value of the Baht along with its annual growth rate fell dramatically. Soon after, the 1997 Asian financial crisis spread to the ASEAN region, South Korea and other countries in Asia, resulting in great economic damage on the affected countries (but with Japan and China both ...