Connect with us

Hot News

Baht will continue to remain strong throughout 2020

Thaiger

Published 

 on 

PHOTO: Baht to remain strong - Elite Havens Magazine

The Thai baht will continue to maintain its strength for the rest of 2020. It will remain strong, propelled by the increased surpluses in the Thai current account and the country’s trade balance.

Kobsidthi Silpachai, KBank’s head of capital markets research, predicts that the Thai baht will float around 29.75 against the US dollar for the first half of 2020, and then appreciate to 29.25 at the end of the year, said

Reuters report that the Thai baht was Asia’s star-performance currency during 2019, rising by more than 7% against the greenback.

The baht continued to leverage off the country’s massive current account surplus over 2019, rising inflows of tourism revenue and the near-record foreign reserves – all this despite subdued local economic growth. The foreign reserves made the Thai baht the go-to currency for investors with with its ‘safe haven’ reputation for actual investment or speculation.

Thailand’s current account surplus totalled $33.2 billion as of last November, accounting for 5.3% of GDP, according to the Bangkok Post. The country’s trade surplus with the US was $19 billion for last year. Thailand’s GDP growth is forecast to be around 2.7% this year.

An adjustment to ease loan-to-value (LTV) regulations is not forecast to massively rev up sagging property sales as the purchasing power of Thais is being tempered by elevated household debt – some 79% of GDP.

The Bank of Thailand eased the tightened LTV rules governing mortgage lending which shortens the minimum debt-servicing period for first mortgages required for those seeking a second loan for homes priced below 10 million baht.

SOURCE: Bangkok Post

 

Want more from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates

Leave a comment below or join the discussion on Thaiger Talk Forums.

4 Comments

4 Comments

  1. Avatar

    stephen cooke

    Thursday, August 20, 2020 at 1:52 pm

    wrong!!

    • Avatar

      Stephen Westrip

      Tuesday, September 15, 2020 at 2:19 pm

      Fancy updating this article now we are in the grip of a pandemic?

  2. Avatar

    Gareth Thomas Relph

    Thursday, September 24, 2020 at 6:43 am

    What’s the real reason?

  3. Avatar

    stephen cooke

    Tuesday, November 17, 2020 at 3:25 pm

    just shows even when pandemic hits baht stays strong! Why?????? Good for economy ? No. Good for foreign investnments ? yes. Tourism? No. Exports ? No. Thai people? No. BoT. ? maybe.

Leave a Reply

Your email address will not be published. Required fields are marked *



Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

Thailand's largest online portal for news and information.

Follow Thaiger by email:

Tourism7 mins ago

Pattaya October reopening hampered by obstacles

Coronavirus (Covid-19)35 mins ago

Thong Lor again: 31 arrested in club violating Covid-19 rules

Coronavirus (Covid-19)2 hours ago

Pfizer vaccine application received, review process begun

Phuket Sandbox July 1st

days
hours
minutes
seconds

Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Sponsored by image

Visa5 hours ago

Covid-19 prevention leads to 14 arrests of longterm overstays

Coronavirus (Covid-19)6 hours ago

Covid UPDATE: 3,277 new infections and 29 deaths, provincial totals

Thailand6 hours ago

Red tape and restrictions suggest a slow Phuket reopening

Phuket6 hours ago

UPDATE: Tourism Minister reportedly says July 1 ‘sandbox’ won’t happen

Tourism7 hours ago

Koh Samui eyes August 1 reopening, “Samui Sealed Route”

Weather8 hours ago

Village need rain? Have you considered a giant penis?

Coronavirus (Covid-19)11 hours ago

Covid UPDATE Saturday: 3,277 new infections and 29 deaths

Coronavirus (Covid-19)22 hours ago

8.3% of Thailand’s 50 million vaccine target reached so far

Coronavirus (Covid-19)24 hours ago

Site launched for June 14 vaccine signup for all foreigners

Coronavirus (Covid-19)1 day ago

Free quarantine accommodation for arriving Thais to be cancelled

Thailand1 day ago

Thailand News Today | Sandbox – bar, clubs closed? Local AZ problems, Sex toy arrest | June 11

Drugs1 day ago

UN report: Changes in Southeast Asia drug trafficking during the pandemic

Thailand3 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism3 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket3 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand5 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending