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1997 Asian financial crisis - Float the Baht

Time: Wednesday Jul 2, 1997

Place: Thailand

Details: Thailand lacked the foreign reserves to support the USD–Baht currency peg, and the Thai government was eventually forced to float the Baht, on 2 July 1997, allowing the value of the Baht to be set by the currency market. This caused a chain reaction of events, eventually culminating into a region-wide crisis.

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On This Day - 2 July

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2 July 1997

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