In Bangkok this week, rumours that Thailand's Baht would revalue by as much as ten per cent swept the city.
GV Bangkok city
Street scenes (2 shots)
Bank of America (2 shots)
Man talking to bank officer
Money changer (3 shots)
Man changing money
Gas station (3 shots)
VS supermarket (3 shots)
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Background: In Bangkok this week, rumours that Thailand's Baht would revalue by as much as ten per cent swept the city.
Financial observers cited the decline of the American dollar and the rising cost of living in Thailand as the main reasons for the widespread speculation.
The American dollar was fetching around 17 Baht on Wednesday (11 July) as against 20 Baht the week before. Tourists in Bangkok were getting lower rates at most hotels.
Tourism, rapidly becoming the country's most profitable industry, is unlikely to be affected by the fall of the American dollar -- according to the financial experts. They point out that most of the visitors to Thailand at this time of year come from Europe and Scandinavia, where the currencies are still maintaining their value against the Thai Baht.