Concept
Thai baht
Related concepts (14)
Floating exchange rate
In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a floating currency, in contrast to a fixed currency, the value of which is instead specified in terms of material goods, another currency, or a set of currencies (the idea of the last being to reduce currency fluctuations).
Currency
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies.
Renminbi
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. It is the 5th most traded currency as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China.
Thailand
Thailand (Thai: ประเทศไทย) (ˈtaɪlænd,_-lənd, ), officially the Kingdom of Thailand and historically known as Siam (saɪ'æm,_ˈsaɪæm, ), is a country in Southeast Asia on the Indochinese Peninsula. With a population of almost 70 million, it spans . Thailand is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea; it also shares maritime borders with Vietnam to the southeast, and Indonesia and India to the southwest.