Thai Baht
a.k.a. THB
Thailand's currency, whose collapse in 1997 sparked the Asian financial crisis.
In plain English
Thailand's currency, whose collapse in 1997 sparked the Asian financial crisis.
The Thai baht (THB) is Thailand's money. In July 1997, Thailand ran short of reserves defending the baht's peg to the dollar and was forced to let it float. It crashed, and panic spread across Asia, triggering the Asian financial crisis.
Today it floats freely and is shaped by tourism, exports and gold flows (Thais are keen gold buyers). It is one of the more liquid Southeast Asian currencies.
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