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Tiger Market Crash 1997 |
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Currency Thai Bath versus Swiss Franc
On June 16th, 1997 the Tiger Market in South East Asia started to crash. The currencies of the „Tiger“ countries started to loss their value against the hard currencies, like U.S. Dollar, UK-Pound, Swiss Franc etc.
The Thai Bath value was cut in half in less than 8 month of trading., sparking a sell off in this region from boats to skyscraper.
When a tourist received 17 THB for one Swiss Franc in June 1997, he or she would get changed over 38 THB end of January 1998 - more then double than 8 month before.
Even the THB recovered from its losses, it not made back to the losses.*
... please see below the illustrated charts for a crash overview scenery.
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*writing October 2007 |