Statistical Yearbook Thailand 2014

Thailand has been a member of the International Monetary Fund (IMF) since 1949 , but did not fix an initial par value for the Baht, because at that time the economic situation had not yet stabilized. On October 20, 1963 the Royal Decree was promulgated establishing par value of the Baht. It provided that the par value for one Baht should be 0.0427245 gram of fine gold and giving it an exchange rate of Baht 20.80 to one U.S. dollar. And thereafter Thailand had adjusted the par value for the Baht for many times. The exchange rate system had been adjusted as of November 2, 1984 by pegging the value of the Baht to other currencies of Thailand’s major trade partner countries, Later the Ministry of Finance issued notification on “ Change of Foreign Exchange Rate System ” from the “ basket of currencies ” to a “ managed float ” as enforcing as of July 2, 1997 . The foreign exchange system shall be such that the value of the Baht is set by conditions in foreign exchange markets. The international monetary of Thailand was based on the International Monetary Fund. The Second Amendment of the Articles of the Agreement of the IMF on April 1, 1978 stresses the importance of internal economic stability as a precondition for exchange rate stability. Apart from greater flexibility in the exchange rate system, the role of gold and the reserve currencies was reduced by promoting the Special Drawing Rights (SDRs) as the main reserve assets in the IMF. In maintaining the stability of the exchange rate, the government earmarks the Exchange Equalization Fund at the Bank of Thailand to determine the exchange rate. Credit system is very important for the economy of the developing countries. The aim of the system is to promote savings and to find the best means that give the most benefits derived from investment. It is necessary to improve the financial institutions which are the financial intermediaries. The financial institutions in Thailand are commercial banks, finance companies, finance and securities companies, the Government Savings Bank, the Bank for Agriculture and Agricultural Cooperatives, The Government Housing Bank , the Industrial Finance Corporation of Thailand, Corporate SMEs, Credit Foncier Companies, Insurance Companies, Agricultural Co-operatives, Thrift and credit Co-operatives and Pawn shop. สถิติเงินตรา การเงิน การประกันภัย และดุลการชําระเงิน 444