currency
- Thailand News
Thailand on US Treasury’s “watchlist” for suspected currency manipulation
Thailand is now on the United States Treasury’s “monitoring list” for suspected currency manipulation, unfair policies to gain an advantage in international trade. Vietnam and Switzerland were both labeled currency manipulators in the US Treasury’s recent report “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.” Along with Thailand, the Treasury also added Taiwan and India…
- Business News
Bank of Thailand takes action to curb Thai baht’s strength
The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas and invest in foreign assets. It will also make is easier for Thai citizens to…
- 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
Thailand’s Central Bank will act to restrain soaring baht
The rapidly strengthening Thai baht is proving a worry for Thailand’s Central Bank, which has said it’s ready to act to limit its rise, given the already damaged economy. The baht’s climb, strengthening nearly 2% against the dollar in the past month alone, makes it one of the highest climbing currencies in Asia. Its recent rise is being attributed to…
- Covid-19 News
Currency will be a key driver in Phuket’s (eventual) tourism recovery?
OPINION by Bill Barnett from c9hotelworks.com In the lead-up to the Covid-19 crisis one constant complaint by Thailand’s hotel sector has been the strength of the Thai Baht. Zeroing in specifically on the Mainland Chinese market, the rapid demise to the island was in part triggered by the tragic boat accident in mid-2018, along with a number of other country-wide negative…
- Economy News
The almighty baht set to fall further despite rate cuts, stimulus
A lot has changed for the baht. It was only months ago that The Bank of Thailand considered drastic measures to rein in the rambunctious baht, whose massive gains in currency markets made it the darling of speculators. In December Kasikorn Bank released a report outlining reasons the baht “will remain strong into 2020.” The bank’s research arm forecast the…
- 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…
- 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,…
- Economy News
Government trying to tame strong baht, but bank says it will remain strong in 2020
The prominent rise of the Thai baht in over the past year has had wide implications and effects, and PM Prayut Chan-o-cha says that state agencies have met often to come up with ways to tame the strong currency. Kasikorn Bank Research Centre has already released a report outlining reasons the baht will remain strong into 2020. The bank’s research arm…
- 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
Thai baht dips after rate cut
The baht continued losses yesterday after the Thai central bank cut interest rates. Other Asian currencies dipped as markets assess the latest details of the US-China tariff talks. The Bank of Thailand cut rates for the second time this year, with the benchmark one day repurchase rate now at a record low, as the bank tries to manage inflation and…
- Business News
Strong Thai baht helps Central Group invest overseas
PHOTO: CEO of Central Group, Tos Chirathivat, taking advantage of the strong Thai baht – The Nation Whilst the strong baht is a concern for exporters and foreign tourists visiting Thailand, many Thai businesses are reaping the currency advantage and investing overseas with their strong baht. Tos Chirathivat, CEO of Central Group, has confirmed that the family-owned conglomerate is investing…
- 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,…
- Business News
Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
- Economy News
Strong baht poses a tough challenge for Thailand
PHOTO: Dreamstime.com Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning. The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism. The ongoing…
- 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…
- Business News
Industry minister says exporters will still need help to work-around strong Thai currency
The strong Thai baht is still a big problem for Thailand’s industries, exports and tourism, key drivers of the Thai economy. The baht’s strength has been partly driven by Thailand’s high current account surplus of US$17 billion this year, attracting investment in the currency as a ‘safe haven’. Industry Minister Suriya Juangroongruangkit says the ministry will continue to support exporters…
- Business News
Thai baht may need another ‘haircut’ by the Bank of Thailand before the end of 2019
Wednesday’s rate cut by the Bank of Thailand has not succeeded in reining in the surging baht, raising the prospect of another interest rate cut by 0.25 of a percentage point before the year-end. While the central bank’s statement on the policy rate reduction didn’t mention the strength of the baht, economists suspect the baht’s strength and its impact on…
- Business News
Board of Trade want Bank of Thailand to urgently address the baht
PHOTOS & GRAPHIC: The Nation The Board of Trade are meeting with the Bank of Thailand tomorrow (August 8) to discuss the value of the Thai baht, its appreciation against the US dollar and Chinese yuan, and the impact on the country’s exports. Sanan Angubolkul, the Board of Trade’s vice chairman, speaking to The Nation, says the baht has appreciated around…
- Tourism News
Currency investors factor in no-deal Brexit as pound flounders
The world’s stock markets and economists think leaving the EU won’t have a sterling outcome. That’s the way the protracted Brexit negotiations are playing out in a slow, drawn out and economically painful rout of the GBP. The British pound hit a two year low of $1.212 against the USD on Tuesday, just another blow for the currency following several…
- Business News
Thailand’s baht is getting stronger, and that’s a problem
Since the beginning of 2018, Thailand’s currency has jumped more than 5% against the US dollar. Year-on-year it’s bounced up nearly 8%. The Thai Central Bank may be forced to cut rates to curb the popular currency. The Thai baht continues to soar against the USD this year, significantly more than many other emerging market currencies. But the flexing Baht muscle…
- Thailand News
British Pound was close to the worst performing currency in the world
Nigel Green, the founder and CEO of the deVere Group, a leading independent international financial consultancy, says the GBP (Pound) is going to continue to be battered and bruised in the short-to-medium term, no matter who is leading the political fray. He spoke out after the Sterling dropped more than 4% yesterday in its worst performance since October 2016, based on…
- Business News
TMB – strong baht hits foreign investment funds
TMB Bank are reporting that the strong baht has cut the value of the foreign investment fund under fund management, falling by 27 billion baht from 1.2 trillion baht at the start of the year. TMB said the drop reduced the fund’s return by 0.47%. The least impacted funds are those covering oil investment, gold, and property funds, at 0.53%,…
- Tourism News
Thailand’s tourism copes with surging baht headache
PHOTO: Thailand’s new tourism & sports minister, Piphat Ratchakitprakarn, hoping the finance ministry will listen to his pleas about the high baht Thailand’s new tourism & sports minister, Piphat Ratchakitprakarn, is blaming the surge of the baht for sucking the life out of tourist arrivals into Southeast Asia’s second-largest economy. Piphat yesterday said he’ll discuss with the Bank of Thailand…
- Business News
More currencies in Asia strengthen – Indonesian rupiah crosses major threshold
The Thai baht isn’t the only Asian currency performing well against some of the western currencies. The Indonesian rupiah has strengthened 0.54% to 13,932 to the US dollar yesterday (Monday) from 14,008 on Friday. It became the best performing currency in Asia, though other currencies in the region have also also strengthened: Yesterday there was improvement of 0.19% for the…
- Business News
Bank of Thailand sends a ‘warning shot’, but little impact
PHOTO: Chiang Rai Times “The Bank of Thailand’s move to curb the rising baht is simply a “warning shot” and will have little impact on the currency’s value or on the bond and stock markets.” This is the response from Thai economists following Friday’s BOT tweaking of the economic dials. On Friday the BOT adjusted down the amount of baht…
- Opinion
Poll – Will the Thai Baht rise or fall (compared to other currencies)?
Yesterday The Thaiger polled our Facebook readers asking them… “Will the Thai baht continue to rise in value against many of the western currencies? Or has it peaked?” Your responses were very mixed but the result was a slight leaning towards the baht dropping, but only by 52% to 48%, from 585 votes. Thanks for participating! Here are few of…
- World News
New Thai 1,000 baht note wins international award
The first new Thai 1,000 baht banknotes, featuring the image of His Majesty King Maha Vajiralongkorn, has won The Best New Banknote Award at the High Security Printing Asia 2018 international conference held in Hanoi, Vietnam. The banknote was awarded for its unique printing technology using the optically variable magnetic ink (OVMI), the first of its kind for Thai banknotes…
