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Thai currency sees stability seven years on.
Byline: Parista Yuthamanop
Jul. 3--Seven years ago yesterday, the Bank of Thailand floated the baht and conceded defeat to currency speculators following months of battles, marking the start of the 1997 economic crisis.
While the first three years of the managed float system saw the baht fluctuating heavily against the US dollar, the currency has since stabilised, supporting overall economic growth, local economists said.
Porametee Vimolsiri, executive director of the macroeconomic office at the National Economic and Social Development Board, said that while the baht had at times appreciated excessively, exports as a whole had performed well.
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Source: HighBeam Research, Thai currency sees stability seven years on.