Soros found the right time to enter the market in 1997. His principle of sniping the Thai baht was to lend Thai baht against US Treasury bonds, then sell Thai baht through the foreign exchange market to buy US dollars, and sell short at the same time. Thai baht foreign exchange futures, the Thai baht futures sold form a hedge with the purchased US dollars. After the Thai baht depreciates significantly, he only needs to exchange a small part of the US dollars into Thai baht to repay it to Thailand.

1. Soros first borrows Thai baht from the U.S. government, for example, borrowing Thai baht worth US$10 billion, assuming it is 100 billion baht. At this time, the exchange rate is 1:10.2. Soros sells Thai baht in large quantities, usually in batches. At this time, the Thai government will use foreign exchange to maintain the exchange rate and even raise interest rates. Therefore, the 100 billion baht in Soros's hands at this time can be converted into at least no less than 10 billion U.S. dollars (because the use of Foreign exchange rates remain even too high, 10 baht can be exchanged for more than 1 US dollar). Because it caused panic in the Thai baht market, businessmen who held large amounts of Thai baht felt that the baht was worthless and immediately sold it, causing the Thai baht exchange rate to fall sharply. 3. At this time, foreign exchange reserves were not enough to cope with the depreciation of the Thai baht, and the government announced the implementation of a free floating exchange rate. At this time, 1,000 baht would be worth 1 US dollar. At this time, Soros only needs to use the US$100 million in his hand to exchange for 100 billion Thai baht, which can be used to repay the Thai baht borrowed from the Bank of America. 4. Soros gained no less than 10 billion U.S. dollars by selling the Thai baht, and only used 100 million U.S. dollars to repay the loan, making a net profit of 9.9 billion U.S. dollars. The above exchange rates are not true, they just reflect Soros's method of making money.