Quantum funds are sold in large quantities. If we want to maintain the fixed exchange rate linked to the US dollar for a long time, Thailand must buy in large quantities. But the Thai government doesn't have that much money, so it has to give up and let it float freely, that is, fall freely.

International speculators led by Quantum Fund used leverage to sell hundreds of billions of dollars of Thai baht at that time. A small country like Thailand simply doesn't have that much money to receive goods.

Later, Quantum Fund attacked the Hong Kong dollar in the same way. The Hong Kong government won and the Quantum Fund suffered heavy losses. Because Hong Kong is backed by the China government. It is said that in 1997, the China government transported a large amount of US dollars to Hongkong by train.