July 12, 2017
On 2nd July 1997 the Bank of Thailand allowed the baht to float, thus ending its struggle to maintain the peg with the US$ in the face of massive speculative attacks, during which the country’s foreign reserves were almost entirely exhaust. The collapse of the Thai currency was rapidly followed by similar events in Indonesia,...
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The Global Policy Institute is a research institute on international affairs. It is based in the City of London, and draws on both a rich pool of international thinkers, academics as well as policy and business professionals. The Institute gives non-partisan guidance to policymakers and decision takers in business, government, and NGOs.