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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.
To mint its 10 baht coin in 1988, the Thai government had to be allowed by the Italian mint, which had an international copyright over bi-metallic minting. The 10 baht is a perfect copy of the 500 lire coin even in its alloy, being made of acmonital for the outer ring and bronzital for the centre plug, but slightly larger (26 mm to 25.80 mm ...
A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR / USD. The quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency (counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars.
Its economy grew at 6.2 percent per annum during the 1990s. In 1995, 28 percent of the population was classed as below the poverty line, compared to just 7 percent in central Thailand. In 2000, per capita income was 26,317 baht, compared to 208,434 in Bangkok. Even within Isan, there is a rural / urban divide.
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 a list of countries by their exchange rate regime. [ 1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating ( floating and free floating) Soft pegs ( conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard pegs ...
The spot rate soon fell below the selling rate (i.e. outside the 12% exchange rate band). BI attempted to intervene but eventually abandoned the managed float on 14 August 1997, leaving the rupiah to float freely. The rupiah–dollar rate was at Rp2,436 to one dollar on 11 July. It fell to Rp2,663 by 14 August and Rp2,955 by 15 August – a 122 ...
On 10 April 2008, it traded at ¥6.9920 per US dollar, which was the first time in more than a decade that a dollar had bought less than ¥7, [62] and at ¥11.03630 per euro. Beginning in January 2010, Chinese and non-Chinese citizens have an annual exchange limit of a maximum of US$50,000.