baht
- Thailand News
Thailand News Today | Emergency Decree, Protesters shot, Baht boost temporary | Nov 18
There’s a link to the final story underneath the video on YouTube. Here we go for Thai PM extends emergency decree to January next year. The government will extend a nationwide emergency decree until at least January 15 next year. The PM has cited the need to prevent a resurgence in coronavirus infections during the peak New Year’s travel period.…
- Economy News
Deputy PM says rise of Thai baht is only temporary
Deputy PM Supattanapong Punmeechaow says that, while the Bank of Thailand is monitoring the current appreciation of the Thai baht, he believes the rise is only temporary. He says the appreciation is being driven by foreign investors turning to the markets as they seek to make a profit by the end of the year. According to Supant Mongkolsutree from the…
- Thailand News
Overseas investors buy Thai bonds, optimistic that Covid-19 vaccine will revive tourism
With hopes that a Covid-19 vaccine will be the key to open Thailand’s doors back up to international tourism, overseas investors are putting down money into Thailand’s financial market. Thai baht has strengthened by nearly 3% since the end of October, a top performing currency in Asia following the Indonesian rupiah, and it’s expected to strengthen even further over the…
- Visa Information
Getting Back to Thailand, the latest information about ASQs and STVs | VIDEO
Whilst some restrictions have been eased, there has been a doubling down on other restrictions for travel back to Thailand at this stage. Here’s all the latest information about the Social Tourist Visa (STV), ASQ (Alternative State Quarantine), golf courses. And then there’s the Thai baht which is causing problems as well. The situation is very fluid but we do…
- Thailand News
Surin merchants report fake 100 baht bills
Fake 100 baht bank notes are reportedly being exchanged in the Isaan province Surin. 2 local merchants say they were each handed what appears to be a counterfeit bill from a customer. A noodle vendor at the Surin Municipal Market says she noticed a 100 baht bill she got from a customer felt strange, more like photocopy paper, she said.…
- Economy News
Source says 3,000 baht handout coming soon, PM says it’s a rumour
Thais are getting some extra cash … Well, maybe. Reports say a 3,000 baht cash handout scheme is in the works to help revive the economy after the pandemic, but PM Prayut Chan-o-cha told the press it’s just a rumour, saying the Thai government “does not plan cash handouts of another 3,000 baht to Thais.” An anonymous source from the…
- Economy News
Thai baht getting stronger
The Thai baht continues to strengthen, coming in at 31.41 against the US dollar. Nation Thailand reports that Jitipol Puksamatanan, Head of Markets Strategy at SCB Securities, predicts the currency will fluctuate between 31.35 and 31.85 against the US dollar, which continues to weaken. xe.com/currencyconverter Meanwhile, the Standard & Poor 500 Index has dropped 0.6%, which is being blamed on…
- Economy News
Central bank mulls severing baht’s gold link to weaken gains
Thailand’s central Bank is mulling breaking the baht’s link to gold as a way to weaken it without being labelled a “currency manipulator” by Washington. According to US Census Bureau data, Thailand’s trade surplus surpassed US$20 billion in the 12 months up to the end of November 2019. That exceeds a $20 billion cap the US Treasury sets for bilateral…
- Economy News
Somkid’s departure sees baht drop further
The baht’s current shine as the ‘safe’ current in Asia has lost its lustre. After riding high as Asia’s best performing currency last year, the baht has wiped out all of its 8% gains this year during the Covid-19 crisis, and yesterday’s announcement of the resignations of Deputy PM Somkid Jatusripitak and “the four big boys” (4 of Prayut Chan-o-cha’s…
- Crime News
Pathum Thani police hunt “100 million baht auntie”
Police in Pathum Thani, just north of Bangkok, are tracking down a mysterious loan shark known as “Mrs. Millionaire” to face charges that she hired a man to beat a vendor who owed her money, leaving him with permanent brain damage. The woman, whose age is estimated at around aged 65-70, dresses plainly and carries a large rubbish sack around,…
- Thailand News
Thailand growing more expensive for expats
According to Employment Conditions Abroad, Bangkok and Chiang Mai are among the 30 most expensive cities for expats in Asia. The capital of Turkmenistan might not spring to mind when with considering the priciest cities, but according to ECA International it ranks first on both the global and Asian tables, a 5 point rise up the rankings due to an…
- Phuket News
Bangkok mother, daughter swindled out of 1.8 million baht, suspect arrested
Authorities in the southern province of Phuket have arrested a man wanted in Bangkok for swindling a woman and her mother out of nearly 2 million baht. Police in the island’s party town of Patong report that officers received a request from police in Bangkok to arrest 23 year old Narathip Sukprasert, originally from Lop Buri province, about 150 kilometres…
- Covid-19 News
Thousands queue outside Finance Ministry for relief cheques
People began arriving before sunrise. It was around 5am on Friday that 49 year old Bawonlak Rasameebunsrisuk from Samut Prakan, just south of Bangkok, started the queue outside the Finance Ministry. She soon gave up her spot to 71 year old Gasorn Bunin, feeling sorry for the grandmother. The Finance Ministry offices wouldn’t open until 9am. All were hoping for…
- Economy News
Thai baht up 3% against USD over past month
Potential tourists and expats shipping in money from overseas were hoping the Thai baht would continue to fall against the US dollar. But they’d be surprised that the baht has rebounded in April against the greenback – about 3% in value. But Thailand’s Central Bank is warning that the recent strengthening of the baht against the USD may “not be sustainable”.…
- Covid-19 News
Coronavirus damage to Thai economy estimated at 1 trillion baht
A trillion baht: that’s the estimated damage to Thailand’s national economy, from the COVID-19 pandemic, while business confidence for the first quarter has dropped to 47.2%, the lowest in nearly 2 years. This according to the report by the Centre for Economic and Business Forecasts of the University of Thai Chamber of Commerce. The centre did a survey of businesses…
- Northern Thailand News
Man steals 5,000 baht handout from kidney patient
A 47 year old man undergoing treatment for kidney disease at a hospital in Nang Rong, near Buriram, north-east Thailand, has had his 5,000 baht government handout stolen – by a relative. The man, named only as Narongsak, applied for the aid package, put in place to ease the economic hardship caused by the Covid-19 outbreak, and asked a family…
- Covid-19 News
Government only has enough to pay 5,000 baht aid package for 1 month – PM
Shortly after the national state of emergency was declared in Thailand, the government of PM Prayut Chan-o-cha announced an aid package of 5,000 baht per month to “informal workers” left behind by the Covid-19 crisis. The original announcement, part of a 117 billion baht stimulus package, was for 3 months, but this was later extended to 6 months, despite the…
- Covid-19 News
Computer says no. Finance ministry refuses two-thirds of stimulus applicants.
Only 9 million Thais have been considered eligible in the latest package rolled out by the Finance Ministry. About 27 million registered for the emergency aid program to provide 5,000 baht per month for at least three month. Now the two-thirds who were initially refused the package after initial computer screening are asking why and fronting up to the Finance Ministry…
- Bangkok News
A golden moment for Thailand’s gold sellers
The streets of Bangkok’s Chinatown today have been paved with gold… sellers. Today, dozens of Bangkok citizens lined up outside Yaowarat Road gold shops, creating chaos as they tried to sell off their gold ornaments and gold bars after the price gold rose by 550 baht per baht of gold (15.244 grams.) It is reported that this is the highest…
- Crime News
Burmese pair arrested at border for smuggling 16.5 million baht
Police in the Tak province, northern Thailand, yesterday arrested two Burmese nationals for trying to smuggle 16.5 million baht in cash into Thailand. Authorities say the two, identified as 29 year old Ded Paioou, and a 24 year old woman called “Namitu” were arrested in tambon Tha Sai Luad, following a tip-off. Officers say the pair were driving a pickup…
- Covid-19 News
BOT injects 35 billion baht into Thai financial market
35 billion baht is being injected into the local Thai financial markets in the wake of the impact from Covid-19 crisis. The Bank of Thailand say they are closely monitoring the local financial market and recognised “liquidity is tight in bond and US dollar exchange markets.” BoT assistant governor Vachira Arromdee announced yesterday… “The BoT last week injected both short…
- Covid-19 News
400 billion baht stimulus announced to boost Thai economy
“The package will inject an estimated 400 billion baht into the economy in a bid to return growth to positive territory.” Yesterday’s Thai cabinet meeting gave the greenlight to a new stimulus package. The government expects the approved 400 billion baht to reduce the impact of the Covid-19 coronavirus outbreak. Last week’s 2,000 baht cash stimulus proposal, which was largely…
- Thailand News
Thai Baht on the slide over fears of spread of Coronavirus outside China
What goes up must go down. The Thai baht has continued to weaken against leading international currencies, trading at 31.70 to the US$ in yesterday’s trade. The falls reflect regional concern over the coronavirus spreading beyond China. In the past few days both central South Korea and parts of northern Italy have reported outbreaks of the virus. Kasikorn Research Centre…
- Economy News
Baht remains strong despite virus, economic slowdown
The minutes of today’s meeting of the Monetary Policy Committee of the Bank of Thailand predict the Thai economy will expand at a much lower rate in 2020 than previously forecast, and far below its full potential. The discrepancy is mainly attributed to the combined impact of the coronavirus outbreak, delay to enactment of the Annual Budget Expenditure Act, and…
- Economy News
Baht loses nearly half its 2019 gains
The Thai baht, whose meteoric rise seemed unstoppable only weeks ago, has become Asia’s worst performing currency so far this year. It’s lost nearly half of its 2019 gains in just a month as fears over the Wuhan Coronavirus outbreak threaten Thai tourism. The Year of the Rat has not been kind to Thailand. As late as December, there were…
- Hot News
Baht will continue to remain strong throughout 2020
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,…
- Thailand News
Survey shows that Thais feel “less safe”
A recent survey by Suan Dusit Rajabhat University, the Suan Dusit Poll, shows that Thais are more concerned about their safety than ever before, citing the country’s economic woes as the reason. The poll was conducted from January 15-18 on 1,365 people throughout the Kingdom of varying education levels and occupations. The survey followed a spate of serious crimes in…
- World News
US Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator
Thailand’s trade surplus with the US has now exceeded US$20 billion. Bloomberg reports that this could trigger the Thai currency to be added to the US Treasury’s watchlist of “currency manipulators”. According to US Census Bureau data, the surplus reached US$20.05 billion in the 12 months up to the end of November 2019. That exceeds a $20 billion upper limit…
- Economy News
Baht to remain strong into 2020: Kasikorn Research Centre
The Kasikorn Research Centre believes that the Thai Baht is going to remain strong into 2020. KBank’s research arm forecasts the baht to move in a range of 30.10-30.50 Thai baht to the US$ for the next few quarters. But they warn a key domestic factor to be monitored closely will be November’s export data, which will be released soon. External…
- Tourism News
Thailand’s beaches now more expensive than European resorts – report
PHOTO: Ministry of Villas The cost of a holiday in popular Thai beach resorts is now on par with, or even higher than those in Greece, Italy, Spain, Turkey, and Egypt – all closer to home for Europeans with lower flight costs and less travel time. Diethelm Travel Group report that the cost of a five-star resort in Koh Samui,…
- Economy News
“Too good for its own good” – The Thai economy
Bloomberg has written an opinion piece about the robust Thai economy, sharing its fears along with some pats on the back. “Thailand really should let its hair down. The currency is strong and the current-account surplus is big versus the neighborhood, while there’s a lot of scope for fiscal expansion. The Bank of Thailand has been grudging in cutting interest rates, in contrast to the…
- Tourism News
Chiang Mai hotels face a quiet end to 2019
PHOTO: Spice Roads Chiang Mai hotels are bracing for a quiet end to 2019, along with other Thai tourist hotspots, due to the strength of the baht, an over-supply of rooms and the growing popularity of home-sharing accommodations like Airbnb. Hoteliers in the northern city are also suffering the fall-out from the smoke haze crisis earlier in the year which…
- Business News
Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
- Economy News
What goes up must come down – the battle of the baht
Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…
- Tourism News
Thailand’s tourism industry ponders drop of Chinese tourists
Thailand’s tourism authorities are getting jittery as the Kingdom continues to bleed Chinese tourists in the wake of a surging baht. They fear Thailand is losing its reputation as one of the most affordable destinations in south east Asia for Chinese tourists. Thailand’s most popular resorts, Pattaya and Phuket, have been particularly suffering from the discernible drop in Chinese visitors. Chinese tourists have…
- Business News
Soaring baht continues to court investors and speculators
The Thai baht continues to be the best performing currency in Asia. On a year-on-year basis it has soared more than 8% against the USD and this year reached a six-year high. But the strong currency threatens the country’s exports and tourism, two major drivers of Thailand’s economy. Thailand continues to have solid economic fundamentals, a high current account surplus and…
- Business News
Baht to climb higher against USD, more pressure on exports
The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…
