[PEN-L:11133] Re: Thailand

[Marianne Brun <eurobrun@xxxxxxxxxxxxxxx>]

	According to all reports, Thailand certainly did devalue its
	currency, and Soros was pictured in the press here as once
	again being th big winner.

On Sun, 6 Jul 1997, Rosenberg, Bill wrote:

> Does anyone have any further information, or comment, on what has
> happened in Thailand?
>
> The Bangkok English-language newspaper, the "Nation", which is on the
> WWW (http://www.nationmultimedia.com) has some interesting reports.
> They detail Soros, with $6 billion at the ready, betting on a
> devaluation. Initially the Bank of Thailand tried to outgun him,
> getting help from Singapore, but the latest (3 July) is that Thailand
> has been forced into a managed float, effectively a devaluation, but
> seemingly with a dual currency market. With foreign debt at 45% of
> GDP, consequences are likely to be severe for some Thai companies.
>
> Bill Rosenberg
>
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