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1 Jul 2024

Financial Markets

27th anniversary of Baht managed float regime: Thailand has stronger foreign reserves, though numerous challenges still need effective solutions (Current Issue No.3508 Full Ed.)

คะแนนเฉลี่ย

  • July 2, 2024, marks the 27th anniversary of Thailand’s announcement of the Baht floatation. This article will review the weaknesses of the country’s financial and economic structure at that time, while making comparisons to the current context to raise awareness, prevent a repeat of past mistakes, and support Thailand’s ongoing economic recovery.
  • Thailand’s current economic and financial landscape is different from that of the 1997 financial crisis. At that time, problems were triggered by excessive investment and spending, coupled with the Baht being pegged to the US Dollar based upon a basket of currencies. Meanwhile, challenges currently facing Thailand are more complex and differ from those of 1997, as most of them are medium- to long-term issues.

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Financial Markets