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Imagine a Thai company had taken out a $ 5 million dollar loan they turned into Thai baht at an exchange rate of 25 TB/$.
Imagine a Thai company had taken out a $ 5 million dollar loan they turned into Thai baht at an exchange rate of 25 TB/$. After the central bank dropped the peg, imagine the exchange rate went to 40.0 TB/$ bid and 48.7 TB/$ offered. Ignoring interest, how many Thai baht do they now need to pay back the principal of the dollar loan? Please answer in Thai baht to the nearest baht with no currency symbols. (Hint: they need to sell Thai baht to pay back the loan.)
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