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The Currency Peg Was Ripped ApartBAHT selling pressure on Tuesday, May 13, 1997 escalated, sending the Thai currency off the fixed rate again that morning trading session.Rerngchai Marakanond, the Bank of Thailand governor, chaired a meeting that morning. It was agreed that the Banking Department should be authorised to continue to intervene in the foreign exchange market to shore up the baht.Before ....
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Chavalit Promises To Hold the BatonON Sunday, May 11, 1997, there was a critical political development. Gen Chavalit Yongchaiyudh, the prime minister, wanted to show off that he meant business.In the absence of Dr Amnuay Viravan, the finance minister, the prime minister held a hastily-arranged meeting with top officials from the Bank of Thailand, the Finance Ministry, the Budget Bureau, and the Natio....
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The First Shot Was Fired in LondonDay one of the decisive battle was on Thursday, May 8, 1997. The hedge funds and international money managers waited for three months after the St Valentine attack to launch the new battle.Dr Surasak Nananukul, chief advisor of the prime minister who headed the economic advisory team at the Baan Phitsanulok, tipped reporters about his important morning meeting with t....
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