March 13th, 2008
Thailand Exchange Rate Crises In 1990
According to economists, there are five principal reasons for the East Asian currency Crisis or IMF of July 1997 that caused a period of economic unrest and turmoil in Southeast Asian financial markets. The countries that were mainly affected during the crisis included Thailand, Indonesia, Malaysia, and South Korea. Inadequate foreign exchange reserves, improper handling of fund allocations and inadequately developed financial sectors in the developing Asian countries have been held as the prime reasons for the drop in the local currency exchange rates against the US dollar during the period.