which countries compose Thailand currency basket?

Have a little project I want to do but I need to compare apples to apples for it if I to be n anywhere near accurate. I have looked I can't find the list of Countries that are in Thailands basket?

hi,

I trade forex and I have absolutely no idea what you're talking about.

cheers
Phil

I have not seen any official release stating exactly which currencies and what their relative proportions are in the current basket of currencies.

From memory I seem to recall seeing an article in the Bangkok Post or The Nation a few months ago which mentioned the currencies (however I don’t think it was from any official at the BoT) - I thought I posted it on UM at the time but unfortunately I've not been able to find it again.

I did find a tutorial on the internet on “Estimating the coefficients of an exchange rate basket” http://141.20.100.2/xplore/tutorials/xf ... de106.html

It included this (interesting to me) bit about the pre 1997 Thai Baht basket of currencies:

Because modern capital mobility enables the investors to exploit the interest rate differentials which may arise between the domestic and the foreign currencies, a pegged exchange rate regime can become an incentive to speculation and eventually lead to destabilization of the exchange rate, in spite of the fact that its purpose is to reduce exchange rate fluctuations. Indeed, it appears that one of the causes which have led to the Asian crisis of 1997 can be searched in short term capital investments.

From 1985 until its suspension on July 2, 1997 (following a speculative attack) the Baht was pegged to a basket of currencies consisting of Thailand's main trading partners.

In order to gain greater discretion in setting monetary policy, the Bank of Thailand neither disclosed the currencies in the basket nor the weights.

Unofficially, it was known that the currencies composing the basket were: US Dollar, Japanese Yen and German Mark.

The fact that the public was not aware of the values of the basket weights, also enabled the monetary authorities to secretly adjust their values in order to react to changes in economic fundamentals and/or speculative pressures. *

* They may well have done, but not exactly with outstanding success

There are reasons I'm not paid for writing. Thailand uses a basket of currency to sit it's value on the rate of exchange, to the dollar.

Which countries are in that basket?

I can't find anything on it either, so I will take a wild guess with the majors on those in the regions. Already syarted don't anything like the movement of the baht thus far. Since i don't what the heck I'm doing when I get put together and P/M it to you for your thoughts if that is OK?

Ah now I see. Don't know is the answer, but nowadays probably US, Euro, Yen, Sing $, Aus $

This is just is really curiosty on my part. I took a wild guess on the ones I could find and e-mailed Jimbo with them.

Some of the local countries such a Vietnam, Cambodia and Loas. Weren't the site I was using.

Some actual showed similar movement but the biggy China nothing similiar at all.

I won't even venture a wild guess on the overall, don't know enough.

Pm'd you wiht the same thing

If I were to guess I suspect that, if the basket were to be composed of just three currencies (as before), they would be the US Dollar (USD), the Euro (EUR) and the Japanese Yen (JPY).

The USD, EUR & JPY also happen to be the three currencies shown on the front page of the BoT website which does suggest they may be of primary importance in Thai international currency dealings (however looking at the actual currency pages, currencies are listed in the following order USD, GBP, EUR, HKD, MYR, SGD....).

If further currencies were to be added I think they would most likely add one or more Asian competitors such as the Chinese Yuan (CNY), Malaysian Ringgit (MYR), Singapore Dollar(SGD), Korean Won (KRW) & then possibly the next most traded “western” currency which would (I’m guessing here) probably be the British Pound (GBP) or Australian Dollar (AUD).

Funny somewhere it seems to me like it was a basket of ten currecies. Anyway I think I sent the three you listed I don't remember seeing the Korean Won on the site that I got the figures from.