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US DOLLAR / THAI BAHT Trading
The USD/THB currency pair combines the world’s most frequently traded currency pair in the United States dollar and one of the fastest-growing in the Thai Baht. In 1997, the USD/THB rate was pegged when Asia's financial crisis hit Thailand. The Thai Baht was subsequently floated and halved in value, but it has recovered gradually since then.
History of USD THB Trading
The USD dates back to 1792, when the United States Congress created the US dollar as the official country’s currency. It serves as legal tender in many countries, and it is the most widely used currency in the world both in circulation and reserve. The US dollar forms the majors as it pairs with all main currencies in the foreign exchange market (forex).
The Thai Baht (THB) has been the official currency of Thailand for centuries. The modern incarnation of the currency came in the early 20th century with the reforms of Chulalongkorn. King Rama V decimalised the Thai Baht, known as the Thai Tical by westerners. In 1997, the currency became the focus of economic observers as Thailand was the epicentre of the Asian financial crisis. It started after the Bank of Thailand was forced to abandon the Thai Baht pegging to the US dollar. This un-pegging caused the currency to collapse and instigated a wave of bankruptcies among Thai businesses who borrowed in dollars but earned revenues in Baht. After the 2014 coup-d’etat, the military government took full control of the country. The government issued a 20-year development plan in order to reach the goal of developed-economy status by 2037.
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USD/THB Trading FAQs
When Is the Best Time to Trade USD/THB?
When Is the Best Time to Trade USD/THB?
While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the USD/THB whenever the currency pair is more volatile. From 13:00 to 22:00 GMT., 13:00 to 17:00 GMT. and 17:30 to 19:30 GMT. the USD/THB is usually busy (GMT).
What affects USD/THB investing?
What affects USD/THB investing?
Many factors can affect the USD/THB market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability.
Why Is the USD/THB Currency Pair Significant to Traders?
Why Is the USD/THB Currency
Pair Significant to Traders?
The Thai Baht was a currency with the best performance in the continent in 2018, gaining 8 per cent against the US dollar. The USD/THB currency pair is an intriguing one for traders across the world.
Where Can I Find a Trusted Forex Broker to Trade USD/THB?
Where Can I Find a Trusted
Forex Broker to Trade USD/THB?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as USD and THB. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.