Life was so good with the dollar pegged at 40 baht. Not anymore. The almighty greenback has dropped into the 32 range.
The overall 20% devaluation means less beer and financial analysts are not confidant about the dollar’s health, especially when GW Bush released a $3 trillion budget and said wants to cut taxes. The US president was a C student at Yale. This mediocrity is not a sin. I ran the same course at Boston College. Still this news immediately impacted the world’s stock markets, which tanked realizing Bush won’t be leaving office for another year.
The Thai Central Bank responds to this upward pressure on the baht by extending the time period for holding dollars from 120 days to 360 days.
At least someone is thinking with their wallet.
For a related article click on this URL
https://www.mangozeen.com/gas-prices-to-go-higher.htm
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