Baht Heads South

[LaoPo]

Moonoi, it's common practice to give the source(s) if you quote.

LaoPo

[moonoi]

Moonoi, it's common practice to give the source(s) if you quote.

LaoPo

Yes sorry realised that after posting. Sourced from BBC and Reuters.

I changed some of the information as information from the BBC was created before the paper money came into circulation.....you can probably spot where as I forgot to remove a "will" after changing become to became

I actually work for one of those companies

Edited May 8, 2006 by moonoi

[Simbo]

Nice handle I would consider changing it if I was you.

each to their own I guess.

I am pleased, it means my wage this month (paid in pounds to a Thai bank in baht) will increase by about 30k baht.

We got used to the 77 baht xchange rate, 67 was hard to take.

I would love to see it at 100 baht/pound for one day each month.

Would that be the 15th perchance?

[usatrader]

What happened in 7/1997 to cause the Baht to drop and stay at such a low level?

The speculator's frenzy, like in oil today. Also known as the "Asian Flu" began in 1997.

Whereby in Southeast Asia numerous currenies speculation went forward due to weak government policies that opens the door to the speculators.

There were three major currency crises in the 1990’s: the European rate mechanism crisis of 1992-93, the Mexican peso crisis of 1994 and the in early Fall of 1997 another started in Thailand and spread to other areas in Southeast Asia.