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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.
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]
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 ...
The circulating banknotes today in Thailand, however, are ranged from 20 baht, 50 baht, 100 baht, 500 baht and 1000 baht. The currently circulating series are 17th, 16th and 15th series. Thai baht banknotes commonly include the portrait or the picture of the sculpture of its kings. The obverses have been designed with the current king's portrait.
The land which is now Thailand was once inhabited by various pre-historic communities. These groups of people left a heritage of social culture and ceremonies. [citation needed] In the ancient days of Thai society, before money was created to serve as a medium of exchange, humans traded goods by bartering for products of similar value.
A currency is a kind of money and medium of exchange. Currency includes paper, ... United States dollar $ USD ... Thai baht ฿ THB Satang: 100 Togo ...
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This is an accepted version of this page This is the latest accepted revision, reviewed on 24 December 2024. 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 ...