Search Results for: Thai baht
- Business News
Thai baht surge hits exporters and tourism revenues
Thailand’s exporters and tourism sector are feeling the squeeze as a rapid appreciation of the Thai baht continues to impact revenue. The central bank attributed this surge to a weak US dollar and stronger regional currencies, such as the Chinese Yuan and Japanese Yen. Yesterday, September 30, the baht reached a 31-month peak at 32.235 against the US dollar, marking…
- Business News
Thai baht hits 19-month high as US dollar weakens
The Thai baht has soared to its highest level in 19 months against the US dollar, driven by a weaker American currency and profit-taking in gold markets. Opening at 32.92 per dollar today, the baht marked a significant rise from September 20’s closing rate of 33.60 baht. This appreciation follows the dollar’s depreciation, which was triggered by the US Federal…
- Business News
Thai baht rally faces threats amid political drama and bank policy
Thailand’s recent baht rally faces a rocky road as the country dives into political chaos just before the central bank’s policy meeting this week. Since July, the baht has been a star performer, climbing up the ranks as tourism bounced back from a near two-year low against the US dollar in May. But this impressive upswing could be at risk…
- Business News
Thai baht may appreciate to 35.30 per dollar amid BoJ rate hike
The Thai baht could experience further appreciation to 35.30 per US dollar in the short term, following a four-month high of 35.72 reached early yesterday. Political instability and deteriorating fiscal conditions due to the government’s populist policies, however, may hinder a significant rebound of the Thai currency. Asian currencies, including the baht, surged after the Bank of Japan (BoJ) raised…
- Business News
Thai baht leads Asian currency declines amid holiday trade
Emerging Asian currencies experienced declines in holiday-thinned trade today, with the Thai baht leading the fall as the US dollar remained firm and Chinese economic data highlighted an uneven recovery trajectory. Markets were notably quiet across Asia due to closures in Singapore, Malaysia, Indonesia, the Philippines, and India. The Thai baht declined by up to 0.5%, influenced by weaker gold…
- Business News
Thai baht finds its groove: Depreciation rate takes a dip
The Thai baht experienced a lessening in its depreciation rate in April, buoyed by an uptick in the country’s economic performance. A leading figure from the country’s central bank anticipates that the local currency will make a recovery in the second half of the year. In the initial quarter of this year, the baht saw a 7.8% decline against the…
- Business News
Thai baht expected to weaken against US dollar
The Thai baht is expected to weaken to an estimated 37.20 baht against the US dollar later this week, due to the continued Middle East tensions, says Kasikorn Research Centre (K-Research). The economic indicators from the US, due for release this week, are also predicted to bolster the dollar’s strength. Monday morning trading saw the Thai currency quoted at 36.97…
- Thailand News
Fake gold sales soar as Thai baht-weight hits 40,000 baht record
Gold prices have recently skyrocketed, touching a record high of 40,000 baht per baht-weight, prompting a surge in sales for fake gold shops as genuine gold becomes less accessible for many consumers. Amidst these soaring prices, the allure of fake gold that doesn’t tarnish but cannot be pawned has captured a diverse customer base, from luxury car drivers to factory…
- Business News
Thai baht’s future forecast: Dollar domination looms on the horizon
Predictions by Kasikorn Research Center (K-Research) indicate a potential decline in the baht to 37 against the US dollar in the coming year. This anticipated depreciation is linked to a combination of a faltering Thai economy and a delay in American interest rate reductions, thereby placing the Thai currency under considerable strain. Kanjana Chockpisansin, K-Research’s head of banking and financial…
- Business News
Thai baht surges as US dollar weakens ahead of Federal Reserve meeting
The Thai baht experienced an upturn against a weakening US dollar, with investors predicting the US Federal Reserve to hold its policy rate steady in the upcoming meeting this week. The baht yesterday, January 30, initiated at 35.38 to the dollar, a rise from Monday’s close at 35.58. The local currency fluctuated between 35.28 and 35.45 against the dollar and…
- Business News
Thai baht heads for poorest January since 2020
The Thai baht, after experiencing a nearly 4% loss compared to the US dollar, is on track for its poorest January performance since 2020. The currency’s downfall signals further challenges ahead, given the significant outflows. Emerging Asia’s top-performing currency in the fourth quarter turned into this year’s biggest loser as global funds avoid Thai assets. This comes amid a dispute…
- Business News
Thai baht could depreciate further against US dollar, says K-Research
The Thai baht, already experiencing a downward trend, could further depreciate against the US dollar, potentially reaching 36 baht to a dollar, according to Kasikorn Research Centre (K-Research). This forecast is contingent upon robust US economic data, set to be released later this week, which could indicate a resilient US economy. Additionally, any delays in the Federal Reserve’s proposed trimming…
- Business News
Thai baht predicted to appreciate amid expected US interest rate cuts
The Thai baht is predicted to appreciate to 33 against the US dollar in the near future, as the market anticipates an early start to US Federal Reserve interest rate cuts, possibly as soon as March. This expectation could trigger an inflow of funds into the Thai currency. The baht registered at 34.26 to 34.28 per US dollar yesterday, a…
- Thailand News
Rescued calf for 100 Thai baht warms hearts on TikTok journey
The young calf that warmed the hearts of TikTok users by sitting in the back of a pickup truck on its journey home has been found. The touching backstory of the calf, worth merely a hundred baht, has since been revealed. On New Year’s Eve, a TikTok user captured a video of the calf sitting in a pickup truck, registration…
- Thailand News
Durian Lablae trousers: Uttradit’s new sensation at just 199 Thai baht
Uttradit’s latest hit, the Soft Power Collection, has unveiled its new product, the Durian Lablae trousers. The trousers, which feature the distinctive characteristics of the Lablae area, are gaining attention for their use of high-quality silk, providing lightweight comfort without heat or tightness. Today (December 26), a report at the Tawan Chai Pha Pha Cotton Shop in Mae Phul, Lablae,…
- Thailand News
Indian national arrested in Ang Thong over illegal loans in Thai baht
An Indian national has been arrested for operating an illegal daily loan scheme in Ang Thong. The arrest followed complaints by residents to the local Justice Centre about the extortionate interest rates and violent threats from the loan shark. The investigation, conducted today, November 30, found that an Indian man, identified only as Harinda, had loaned amounts ranging from 2,000…
- China News
Bride returns dowry tenfold and gifts land rover in Thai baht value
What is the appropriate dowry? Many people have argued that for couples who truly love each other, the value of the dowry is merely a formality. This is because what the bride truly desires may not be wealth, but rather the positive attitude of her life partner and a married life filled with happiness and understanding. On November 9, a…
- Thailand News
Three strategies to pay off your home loan faster in Thai baht
The topic of mortgage payments has been making waves on social media recently, following a Facebook user sharing their experience of repaying a home loan with a bank. The user was required to pay 10,900 baht, but after deducting the principal amount, only 5.50 baht was left, the remainder being interest. Today, we want to share three easy, effective strategies…
- Business News
Thai baht hits six-week high ahead of Federal Reserve meeting
The Thai baht reached a six-week high against the US dollar yesterday morning, trading at 35.86. Analysts predict further appreciation if the Federal Reserve does not provide clear indications regarding United States interest rate trends at its upcoming meeting. As Head of Research at Kasikorn Research Centre, Kanjana Chockpisansin observed that the baht’s quick appreciation from 36.50 to the US…
- Thailand News
Chiang Rai man discovers three-carat natural pearl worth thousands of Thai baht
A three-carat natural pearl discovered inside a clam has been confirmed as genuine. The owner, who hails from Buasali, Mae Lao, Chiang Rai, vowed to keep the valuable find for its auspicious significance rather than sell it. Yesterday, in Chiang Rai, the news of 45 year old Sethapong Sivavong’s unusual discovery, a 1-centimetre pearl inside a clam, made headlines. Sethapong,…
- Business News
US dollar surge hits Asian currencies: Thai baht suffers
Asian currencies experienced a dip today, with the Thai baht and Indonesian rupiah bearing the brunt of the losses. This was mainly due to the rising strength of the US dollar, bolstered by robust economic indicators and the threat of inflation from the Federal Reserve, which have pushed US bond yields to a 16-year peak. The baht saw a fall…
- Thailand News
Krungsri Bank anticipates Thai baht fluctuation amid global market developments
The Global Markets team at Krungsri Bank predicts a movement in the Thai baht this week within the range of 35.40 to 36.00 baht per US dollar. Last week, the baht closed weaker at 35.79 baht per US dollar after trading in the range of 35.43 to 35.82 baht per US dollar. The dollar strengthened against the euro but held…
- Business News
Thai baht instability rises due to political unrest
Political unrest is heightening baht oscillations against the US dollar, as Thailand finds itself without a stable government, the head of the Bank Thailand asserts. This turbulence introduces a greater risk factor amongst investors who are observing the foreign exchange rate, particularly between the baht and the US dollar, in light of Thailand’s current political developments. Post Thailand’s General Election…
- Business News
Thai baht’s unexpected surge makes a splash, takes the lead in Asian currency gains
In an unexpected buoy of currency today, the Thai baht took the lead in Asian currency gains, reaching a two-month apex. This surge, of 0.9%, comes in the wake of strong hopes for the resolution of Thailand‘s political deadlock and a waning US dollar, factors that buoyed the sentiments of investors. Meanwhile, share market traders adopted a cautious stance; local…
- Economy News
Thai baht soars as voters back pro-democracy parties
The Thai baht hit a five-week high this morning after pro-democracy parties came out as the biggest winners in yesterday’s General Election after nearly a decade of military-backed rule in Thailand. The baht rallied 0.9% this morning to 33.70 against the greenback for the first time since April 5 after opposition parties Move Forward Pary (MFP) and Phue Thai won the…
- World News
Thai baht and Singapore dollar battle for strongest regional currency
China is reopening its borders, pushing economists to predict that an influx of Chinese tourists to Thailand will propel the Thai baht into Southeast Asia’s reigning currency in 2023. But the baht has one regional competitor: the trusty Singapore dollar. Thailand’s economy heavily depends on tourism revenue. In 2019, Chinese tourists made up over 40% of the 40 million tourist…
- Northern Thailand News
Monkey steals bag containing 50,000 Thai baht and throws it off a cliff
A trouble-making monkey in Srisaket province, northeast Thailand, stole a tourist’s tote bag and launched it off the side of a cliff yesterday after finding nothing edible inside it. A team of park rangers scaled down the cliffside to retrieve the bag, which contained 50,000 baht (US$1,438) in cash. Park rangers at Khao Phra Wihan National Park received a call from…
- Economy News
Thai baht depreciates against US dollar
After a recent surge of strength by the Thai baht earlier this month, it has now depreciated against the US dollar. As of today, December 16, the baht now stands at about 35 per USD, according to an executive at Kasikorn Research Center, Kanchana Chokpaisarnsilp. Yesterday, the baht was at 34.92 per USD, Daily News reported. Market strategist Poon Panichphiboon…
- Economy News
Fate of Thai baht depends on return of Chinese tourists, economists say
The Thai baht has been flying recently but its upward trend could draw to a standstill unless Chinese tourists return to the Kingdom of Thailand, according to economists. In the past month, the baht appreciated almost 6% against the US dollar as reports indicated the US Federal Reserve (Fed) would slow down its aggressive interest rate hikes. Despite inflation, a reinvigorated…
- Thailand News
Thai baht soars against US dollar
The volatile Thai baht made a fierce comeback against the weakening US dollar, soaring to 35.93 against the greenback over the weekend. Just a few weeks ago, the baht depreciated to 38.35 against the dollar. At the end of September, the Thai baht plunged to 38 against the US dollar for the first time in 16 years amid aggressive interest…
