{
  "id": "fx-eur-thb",
  "title": "Euro in Thai baht, annual average",
  "metric": "EUR/THB annual average of daily ECB reference rates",
  "unit": "THB per EUR (calendar-year mean of daily fixings)",
  "kind": "fx",
  "volatility": "annual",
  "direction_note": "lower = a euro-denominated pension converts to fewer Thai baht in Thailand",
  "publisher": "No Margin Left",
  "source": {
    "label": "European Central Bank euro foreign exchange reference rates, daily history (eurofxref-hist)",
    "url": "https://www.ecb.europa.eu/stats/eurofxref/eurofxref-hist.zip"
  },
  "license": "CC BY 4.0",
  "license_url": "https://creativecommons.org/licenses/by/4.0/",
  "attribution": "No Margin Left, \"Euro in Thai baht, annual average\" (EUR/THB annual average of daily ECB reference rates). CC BY 4.0. https://nomarginleft.com/data/fx-eur-thb.json",
  "canonical": "https://nomarginleft.com/data/fx-eur-thb.json",
  "csv": "https://nomarginleft.com/data/fx-eur-thb.csv",
  "retrieved": "2026-08-12",
  "stale": false,
  "observations": [
    {
      "date": "2006",
      "value": 47.5936,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "255 daily fixings; the base year of the real-purchasing-power panel; also near the peak of the 2003-2011 commodity-currency cycle for AUD and CAD.",
      "readings": [
        {
          "value": 47.5936,
          "source": {
            "label": "ECB euro reference rates, mean of all daily fixings in the year",
            "url": "https://www.ecb.europa.eu/stats/eurofxref/eurofxref-hist.zip"
          },
          "retrieved_via": "eurofxref-hist.csv, cross-rate arithmetic"
        },
        {
          "value": 47.591,
          "source": {
            "label": "World Bank PA.NUS.FCRF (Thailand, LCU per USD, annual average) crossed with FRED DEXUSEU (USD per EUR) annual average",
            "url": "https://api.worldbank.org/v2/country/TH;PH/indicator/PA.NUS.FCRF?format=json"
          },
          "retrieved_via": "independent reconstruction — World Bank annual averages x Federal Reserve H.10 daily averages"
        }
      ],
      "rationale": "Two independently assembled readings agree to 0.01%. The ECB figure is resolved as the value because the whole panel is built from one file on one set of dates; the World Bank x Federal Reserve reconstruction exists to show the panel is not an artefact of the ECB's fixing convention.\n"
    },
    {
      "date": "2007",
      "value": 44.214,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2008",
      "value": 48.4753,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "256 daily fixings; global financial crisis; the commodity currencies fall hard and recover."
    },
    {
      "date": "2009",
      "value": 47.8044,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2010",
      "value": 42.0145,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2011",
      "value": 42.4288,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "257 daily fixings; the alternative base year — the commodity-currency peak proper."
    },
    {
      "date": "2012",
      "value": 39.9276,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2013",
      "value": 40.8297,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2014",
      "value": 43.1469,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2015",
      "value": 38.0278,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "256 daily fixings; mid-window reference."
    },
    {
      "date": "2016",
      "value": 39.0428,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2017",
      "value": 38.2958,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2018",
      "value": 38.1644,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2019",
      "value": 34.7569,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2020",
      "value": 35.7081,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "257 daily fixings; pandemic year; the baht holds, the peso does not move much either."
    },
    {
      "date": "2021",
      "value": 37.8368,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2022",
      "value": 36.8562,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2023",
      "value": 37.6311,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2024",
      "value": 38.1811,
      "confidence": "sourced",
      "checked": "2026-08-12"
    },
    {
      "date": "2025",
      "value": 37.1158,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "255 daily fixings; the last complete calendar year in the panel.",
      "readings": [
        {
          "value": 37.1158,
          "source": {
            "label": "ECB euro reference rates, mean of all daily fixings in the year",
            "url": "https://www.ecb.europa.eu/stats/eurofxref/eurofxref-hist.zip"
          },
          "retrieved_via": "eurofxref-hist.csv, cross-rate arithmetic"
        },
        {
          "value": 37.178,
          "source": {
            "label": "World Bank PA.NUS.FCRF (Thailand, LCU per USD, annual average) crossed with FRED DEXUSEU (USD per EUR) annual average",
            "url": "https://api.worldbank.org/v2/country/TH;PH/indicator/PA.NUS.FCRF?format=json"
          },
          "retrieved_via": "independent reconstruction — World Bank annual averages x Federal Reserve H.10 daily averages"
        }
      ],
      "rationale": "Two independently assembled readings agree to 0.17%. The ECB figure is resolved as the value because the whole panel is built from one file on one set of dates; the World Bank x Federal Reserve reconstruction exists to show the panel is not an artefact of the ECB's fixing convention.\n"
    },
    {
      "date": "2026-08",
      "value": 37.5962,
      "confidence": "sourced",
      "checked": "2026-08-12",
      "note": "Partial year: mean of the 156 fixings from 1 January to 12 August 2026. Not comparable with the complete-year rows above and excluded from the 2006-2025 panel; carried so the series does not end nineteen months short."
    }
  ],
  "corrections": []
}