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The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. [ 1]
The Bank of Thailand Act, B.E. 2485 was later amended in order to put emphasis on its social responsibility, to create a mechanism to guard against economic crisis, as well as to set up its decision making process to ensure good governance and transparency in the organization. The Bank of Thailand Act, B.E. 2551 came into force on 4 March 2008.
On 27 July 2010, the Bank of Thailand announced that the 16th-series banknotes would enter circulation in December 2010. [40] [41] On 9 August 2012, the Bank of Thailand issued a new denomination banknote, 80 baht, to commemorate queen Sirikit's 80th birthday. [42] It was the first Thai banknote that featured Crane's MOTION security thread.
Kasikorn bank Rat Burana Office. In Thailand, the banks are governed by the Bank of Thailand, which was established in 1942.Across Thailand, there are thirty licensed banks which are registered with a further six being state-owned.
The government narrative describes Thailand 1.0 as the agrarian economy of Thailand decades ago. Thailand 1.0 gave way to Thailand 2.0, when the nation's economy moved on to light industry, textiles, and food processing. Thailand 3.0 describes the present day, with heavy industry and energy accounting for up to 70 percent of the Thai GDP. [72]
Billions of rupiah were withdrawn from saving accounts restricting these bank's abilities to lend forcing the Central Bank to provide large credits towards the remaining banks to avert a banking crises. [3] Evidence is shown as in January 1998 the Indonesian rupiah lost half its value within 5 days. [4]
The 2006 Thailand coup d'état took place on Tuesday 19 September 2006, when the Royal Thai Army staged a coup against the government of Prime Minister Thaksin Shinawatra. The short-term economic consequences were relatively minor, resulting in stock fluctuations and possible credit rating changes. However, long-term economic consequences of ...
The rupiah ( symbol: Rp; currency code: IDR) is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam ( रूप्यकम् ). [ 4] Sometimes, Indonesians also informally use the word perak ("silver" in Indonesian) in referring to rupiah in coins.