Search Results for: currency
- Business News
Cryptocurrency in Thailand: Legal status, use cases, and global perspectives
Cryptocurrency has rapidly risen from a high-risk, highly volatile, don’t-touch-it-with-a-ten-foot pole commodity to a globally accepted form of payment. But even in 2026, not every country is on board. While the likes of Singapore and Malta embrace it with open arms, others, like Thailand, have a more cautious approach. What’s the current status of using cryptocurrency in Thailand? Let’s find…
- Finance
The Fed’s ripple effect: How rising US rates affect cryptocurrency
For years, cryptocurrency seemed to exist within its own universe, driven by unique forces, but that is changing. Now, decisions made by the US Federal Reserve send waves across digital assets, shaping the outlook for markets like bitcoin and Ethereum. It’s now essential to understand how US monetary policy affects markets and where it intersects with crypto. The Federal Reserve’s…
- Thailand News
Israeli nationals arrested in Koh Samui for counterfeit currency scam
In Koh Samui, Surat Thani, police arrested two Israeli nationals accused of exchanging counterfeit US dollars, causing a loss of 21,840 baht. Both individuals face severe legal action as authorities investigate further to prevent economic disruption. On October 11, officers from Bo Phut Police Station, in collaboration with the Surat Thani Immigration Office (Samui), detained the two Israelis following a…
- Koh Samui News
Russian man arrested on Koh Samui over Phuket cryptocurrency robbery
Police arrested a Russian man on Koh Samui, an island in Surat Thani, for his involvement in a cryptocurrency robbery that took place in Phuket on August 26. The 28 year old Russian victim, Aleksandr, filed a complaint at Chalong Police Station in Phuket, reporting that he had lost cryptocurrency worth 35,000 USDT, or about 1.2 million baht, to four…
- Business News
Key economic signals Thai traders should track before opening a currency position
Thailand’s open, export-driven economy means that fluctuations in global demand show up quickly in local data. Gross Domestic Product (GDP) releases from the National Economic and Social Development Council and monthly Industrial Production Index (IPI) figures give early clues about whether factories in Chachoengsao or Rayong are running below or above capacity. Traders also keep an eye on tourist-arrival numbers…
- Finance
How rising US interest rates could cause currency volatility in emerging markets
The US dollar has been serving as the global trade currency for decades. Historically, inflation-driven rapid interest rate hikes in the United States and worldwide have threatened the economic welfare of emerging markets and developing economies (EMDEs). Sharp increases in US interest rates contribute to the rising foreign exchange value of the dollar, implicitly spilling over into EMDE borrowing costs.…
- Business News
Baht out of luck: Thai currency slips as greenback flexes muscle
The Thai baht is wobbling once again, with currency watchers bracing for a further slide this week as the mighty US dollar gathers steam following a temporary pause in the US-China tariff war. Analysts say the baht could weaken to as low as 33.80 per dollar in the coming days, as uncertainty lingers despite a fleeting boost in global market…
- Crime News
Thailand’s ‘Operation Crypto Phantom’ major crackdown on illegal cryptocurrency networks in 2025
Thailand police organised a major action against illegal crypto networks and shut many of them down as a part of a larger effort to regulate the use and trade of cryptos in the country. The operation was code-named Crypto Phantom, and it took place on April 18th in Cherng Talay. The operation was a great success, and the networks were…
- Business News
Baht to the future: Thai currency eyes 33 mark as dollar dives
The Thai baht is flexing its muscles on the global stage, with experts predicting it may surge past the symbolic 33-per-dollar mark in the second quarter, fuelled by trade tensions, a faltering US economy, and sky-high gold prices. According to Kasikorn Research Center (K-Research), the baht has climbed to a six-month high, riding the wave of a weakening US dollar…
- Business News
Baht to the future: Thai currency takes a pounding as US tariffs bite
The Thai baht has taken a serious beating, diving to its weakest level in two and a half months, and it’s only set to sink further, after the US threw a financial curveball with a whopping 37% reciprocal tariff on Thai imports. The baht slipped to 34.38 to the dollar yesterday, April 3, with intraday lows hitting 34.44, a rate…
- Bangkok News
Rider arrested for stealing over 30,000 baht in foreign currency
Police apprehended a rider accused of stealing over 30,000 baht in foreign currency entrusted to him for delivery. The suspect, 24 year old Poramet, allegedly blocked all contact with the sender after taking the package containing the money. The arrest occurred on April 1 at around 4pm in a house located on Soi Phahon Yothin 58, Intersection 61, Sai Mai…
- Thailand News
Thaksin tasked with cryptocurrency proposal by Malaysian PM
Thaksin Shinawatra has been tasked with proposing and recommending that ASEAN consider adopting a cryptocurrency. He will undertake this role as a personal adviser to Malaysian Prime Minister Anwar Ibrahim, who currently chairs ASEAN. Former Thai Prime Minister Thaksin was given this responsibility by the ASEAN chair due to his interest in cryptocurrencies. He emphasised the importance of the regional…
- Thailand News
Baht to the future: Finance Ministry and BoT tackle currency surge
The Finance Ministry and the Bank of Thailand (BoT) are set to convene next week to address the strengthening baht and the nation’s inflation target amidst governmental pressure for interest rate reductions. Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced plans to meet with BoT Governor Sethaput Suthiwartnarueput to discuss the baht’s appreciation and related economic concerns. Observers anticipate…
- Economy News
Baht-boom: Thailand’s currency surge leaves tourism, exports short
Thailand’s baht is rocketing towards its biggest quarterly rise since the Asian financial crisis, a development that has key tourism and export industries clutching their pearls. Since the end of June, the baht has surged 10% against the dollar, its most significant gain since early 1998. This sudden leap has prompted frantic appeals from the tourism, hotel sectors, and business…
- Thailand News
British cryptocurrency trader assaulted and robbed in Bangkok
Five foreign nationals have been arrested for allegedly robbing and assaulting a British cryptocurrency trader in Bangkok, tying him up and inflicting serious injuries. The suspects deny the charges and have requested to give their testimony in court. Police Colonel Wachirakorn Wongboon from Khlong Tan Police Station yesterday, July 14, led a team to apprehend five suspects involved in the…
- Business News
Baht to hit 37.25 per US dollar amid global currency slump
The Thai baht is expected to plummet to 37.25 against the US dollar in the near future, as Asian currencies have weakened to their lowest levels since 2022. This decline is driven by ongoing global volatility and outflows from Thai stock and bond markets amid uncertainty surrounding US interest rate cuts, according to economists. The Thai currency yesterday dropped to…
- Thailand News
How Thailand’s consumer behaviour is being affected by cryptocurrency
Many investors believe that cryptocurrencies have significant potential as investment assets. To cater to this interest, financial products related to traditional asset classes have been introduced in various countries. These products include futures contracts, exchange-traded funds (or more commonly referred to as ETFs), and micro futures contracts, which allow for smaller-scale investments. Furthermore, several major banks now offer their clients…
- Business News
How Cryptocurrency is changing consumer behaviour in Thailand
Cryptocurrencies like bitcoin or similar have played a significant role in the global economy in recent times, and Thailand is just one of the countries where these changes are taking place. Since the country has a young population, and this population is actually tech-savvy, it didn’t take long for cryptocurrencies to be adopted. While the popularisation of cryptocurrencies in Thailand…
- Thailand News
Thai police bust major cryptocurrency mining operation
Thai police apprehended multiple individuals and confiscated over 650 cryptocurrency mining devices valued at over 200 million baht in Samut Sakhon and Ratchaburi, following an investigation into suspected electricity theft. The high-profile crackdown involved officers from the Cyber Crime Investigation Bureau (CCIB) and Provincial Electricity Authority (PEA) officials, who targeted the locations due to their exceptionally high power usage. The…
- Business News
Foreign currency deposits surge in Thailand
The past year has seen a significant upturn in foreign currency deposits (FCDs), spurred by appealing interest rates due to global rate hikes. According to data from the Deposit Protection Agency (DPA), member financial institutions observed a surge in FCDs to a total value of 812 billion baht (US$22 billion) by November 2023, up from an earlier figure of 640…
- Business News
Thai govt considers issuing US$1 billion foreign currency bonds
The Thai government recently announced its consideration to issue foreign currency-denominated bonds valued at US$1 billion, approximately 36 billion baht, an announcement which has sparked debates over the worth and risks associated with such an undertaking. As part of this move, the Public Debt Management Office (PDMO) under the Finance Ministry is examining the feasibility of offering these bonds in…
- Phuket News
Woman assaulted in attempted robbery at Patong currency exchange
A shocking incident unfolded in the early hours of today when a woman was assaulted during an attempted robbery at a currency exchange on Phra Barami Road, Patong. The Patong police are now on a manhunt for the assailant. The incident occurred near Dolphin Circle at the west end of Phra Barami Road. Police were alerted to the situation around…
- Thailand News
Northern Thailand: Teenager caught using foreign currency at self-service kiosk
A suspicious incident involving currency manipulation at a self-service payment kiosk was reported in Wichian Buri district, Phetchabun province today, December 20. A local shop owner, Sarayut Singchangchai, spotted a foreign banknote, specifically a 500 Kyat note from Myanmar (equivalent to approximately 8 baht), in his payment kiosk. This discovery led to an investigation and the eventual identification of the…
- Thailand News
KBank to create digital currency system
As mainstream lenders remain cautious about digital assets, Kasikornbank (KBank) is on a mission to create a digital-asset ecosystem, providing a groundbreaking funding route for companies. KBank acquired the licenced digital-asset exchange Satang Corp in October. Notably, this acquisition marks a rare instance of an established lender stepping into the crypto trading platform domain. The rebranded Satang Pro platform, now…
- Business News
Currency crunch: Thai SET under strain as rates rise and baht bites
A recent policy rate hike of 0.25% by the Bank of Thailand, coupled with the weakening baht, is placing pressure on the Stock Exchange of Thailand (SET). Analysts have suggested this after observing that the index slipped below the resistance level of 1,500 points. The Thai bourse experienced a downturn at the opening yesterday, following a 0.88% drop to conclude…
- Economy News
Baht depreciation: Experts foresee currency’s decline amid global market turbulence
Financial experts are predicting a further depreciation of the baht throughout this month and next, due to the increased volatility in the global money and capital markets. This follows the US Federal Reserve’s recent suggestion of a potential increase in its benchmark interest rate. Poon Panitchpibun, a strategist at Krungthai Global Market, a research centre of Krungthai Bank, noted that…
- Crime News
CCIB nabs five in 2.7 billion baht cryptocurrency scam
The Cyber Crime Investigation Bureau (CCIB) apprehended four individuals from China and one from Laos about a cryptocurrency scam, resulting in a loss of over 2.7 billion baht. The fraudulent scheme operated via an investment platform called bchgloballtd.com and reportedly deceived at least 3,280 people. The victims, who began stepping forward in November last year, were tricked into investing in…
- Crime News
Thai model caught in billion baht cryptocurrency scams and money laundering bust
Royal Thai Police swooped on 30 targets, capturing an illicit Chinese network involved in cryptocurrency scams, romance scams, and money laundering. The operation, led by Police Colonel Siriwat Deephor, Director of the Anti-Money Laundering Office (AMLO), and his team of over 200 officers, resulted in the arrest of the infamous model, known as Kiki Maxim, and the seizure of almost…
- Business News
Thailand’s baht leads Asian currency downturn amid China’s economic worry
Asian currencies experienced a downturn yesterday, led by Thailand‘s baht, as concerns heighten surrounding the recovery status of the global economy’s second-largest player, China. The baht plunged by a substantial 0.8%, marking it as the largest depreciation against the US dollar in half a dozen weeks. Across the waters of offshore markets yesterday afternoon, it was changing hands at approximately…
- Phuket News
Cryptocurrency conundrum: Cyber sleuths collar 25 year old suspect in 1.4 million baht Phuket fraud
A burgeoning cryptocurrency fraud case took a significant turn as a 25 year old man was apprehended by the Cyber Crime Investigation Bureau (CCIB) in Phuket. Suspected of being a money mule within a criminal operation, authorities allege the man, named Toei, opened a bank account aiding a cryptocurrency fraud enterprise scamming over 1.4 million baht from unsuspecting individuals. The…
