Baht takes beating again, bruising other currencies
Article Abstract:
The baht again slipped against the US Dollar during the last week of July and the weakness of the currency has analysts anticipating a change in the governments foreign exchange policy. The baht slipped a record 32.3 against a dollar taking with it other Asian currencies like the ringgit and the Singapore currency. Analysts predict that the Thai Central Bank will soon lift controls so that offshore markets may be able to converge with onshore financial markets.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Bank intervention keeps baht speculators at bay
Article Abstract:
The Bank of Thailand's move to protect the baht from further devaluation has resulted in a setback for currency speculators aiming to capitalize on a weak baht. The bank managed to rejuvenate the troubled baht by purchasing the currency in offshore market and ordering local banks to refrain from lending baht to foreigners who do not have sufficient commercial or trade needs for the currency.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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The Baht is heading for a fall - again, economists warn
Article Abstract:
The Thai Baht is expected to depreciate even further, even with the assistance of the International Monetary Fund (IMF). The renewed strength of the US dollar has led some economists to predict that the Baht may even depreciate by 50% in the 2nd half of 1997. Economists, however, admit that the Thai economic situation would be in much worse shape if the IMF were not involved.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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