Bank of Thailand

Thai Baht Collapses, Triggering Asian Financial Crisis

1997-07-02 00:00:00 +0000 UTC | Importance: 8/10

On July 2, 1997, Thailand devalued the Thai baht after exhausting foreign currency reserves, marking the beginning of the Asian Financial Crisis. The currency fell from 25 baht per U.S. dollar to 54 baht per dollar by January 1998. The IMF and global financial institutions mobilized over $118 …

Thai Central Bank IMF World Bank McKinsey & Company Bank of Thailand asian-financial-crisis imf structural-adjustment currency-manipulation economic-shock-therapy +1 more

Thai Baht Collapse Ignites Systemic Southeast Asian Economic Crisis

1997-07-02 00:00:00 +0000 UTC | Importance: 9/10

Thailand’s decision to float the baht on July 2, 1997, triggered a catastrophic financial crisis across Southeast Asia. The currency collapsed from 25 baht per USD to 54 baht per USD by January 1998, causing systemic economic destabilization. The IMF and World Bank responded with a $20 billion …

Bank of Thailand IMF World Bank Federal Reserve Asian Development Bank asian-financial-crisis economic-shock imf-intervention structural-adjustment currency-devaluation +1 more