Thai Baht
- Thailand video news
Thailand News Today | Bank of Thailand scrambles to address plummeting Baht
The Bank of Thailand is scrambling to find sources behind the weakening baht as a meeting is called to discuss its impact. As of this recording, the baht trades at 37.4 against the US dollar. Finance Minister Arkhom Termpittayapaisith says the depreciating currency is adding to the inflationary pressures and vowing to determine whether the decline is linked to the country’s economic fundamentals.…
- Economy News
Thailand’s baht weakens against US dollar
Thailand’s baht has weakened against the US dollar this year. On Wednesday, the conversion rate was 36.73 baht per dollar, having been weakened by 8.8% this year. The baht hit its lowest point in 15 years in July, when the rate was 36.945 baht per dollar. The US dollar has gotten stronger due to a drop in many countries’ foreign…
- Economy News
Is the Thai Baht falling in value?
Yes. And no. Depends on which currency you want to compare it to. Against the mighty USD, absolutely yes. In February this year, the USD was valued at 32.12 baht to the dollar. Now it’s 36.48 baht to the dollar. Good news if you’ve got USD and heading to Thailand. GRAPHIC: xe.com But the story isn’t the same against many…
- Thailand video news
Is now the best time to invest in Thailand due to the weak Baht | GMT
Is now the best time to invest in Thailand? what are the pros and cons of a weaker Baht? Asia’s largest water park, Bangkok governor election winner and Do Thai teachers and institutions abuse their power? All this and more on today’s Good Morning Thailand.
- Thailand video news
Thailand News Update | SF Cinema rents out its theatre halls to gamers due to slow box office sales.
The Royal Thai Police have arrested two officers from the Cyber Crime Investigation Bureau for allegedly kidnapping a gambling couple and their child last week. The wife claimed that officers from the Cyber Crime Investigation Bureau kidnapped her and her family for ransom, after they won 2 million baht from online gambling. The woman said that she, her husband and…
- Thailand News
Bank of Thailand updates 20 baht banknote for improved hygiene and longevity
The Bank of Thailand has launched a new 20 baht banknote made of polyester. The banknote is said to resist moisture and grime, resulting in a longer shelf-life. The central bank began distributing the shiny new baht greenbacks on March 24. The Bank of Thailand announced that people used the 20 baht banknote the most frequently, making them dirty and…
- Thailand video news
Test & Go, then test again I GMT
Thailand resumes TEST & GO scheme, reopens Pattaya and Ko Chang Sandbox from 1 February 2022, but with new changes and amendments. A wildlife youtuber has discovered a new species of tarantula in Thailand and 20 baht bills in Thailand are getting a modern polymer update on March 24.
- Bangkok News
Thai baht rises as officials consider resumption of Test & Go
Thailand saw strength in its currency “baht” today as expectations are high for the relaxing of quarantine for vaccinated visitors under “Test & Go” quarantine exemption scheme. Registration for the entry scheme was closed last month, but the Public Health Ministry is proposing the scheme be reopened again. The Public Health Minister says that if approved by the Centre for…
- Economy News
Thai baht to continue dropping against the USD
The Thai baht is forecast to droop to a 4-year low over the next trading week, and its largest monthly currency drop for over 20 years. The Baht’s challenges shadow US dollar gains over concerns about the US Fed’s (US Federal Reserve) ‘tapering’ plans as it reins in enthusiastic stimulus of the US economy. Thailand’s baht has been the region’s…
- Thailand video news
Thailand News Today | 32M Pfizer doses on the way, weakening Thai baht | August 13
Thailand’s Public Health Minister says there will be 32.5 million doses of the Pfizer vaccine in the country by the end of the year. The death from Covid-19 of another fully vaccinated healthcare worker has led to increased calls for Pfizer booster shots. The weakening Thai baht, against the US dollar, is propping up the export numbers. Tourism officials in…
- Thailand video news
GMT | Covid update, monkey business, Thai gold | July 27
GOOD MORNING THAILAND Tim and Jay go through the news in Thailand from the past 24 hours. It was a public holiday yesterday, so no program. Today we check out the monkey invasion, the drop of the Thai baht, the Sandbox Paradox and a South Korean TV station gaff at the opening of the 2020 Olympic Games in Tokyo. We…
- Thailand News
Thai baht goes from top-performing to worst-hit currency in Asia
Before the pandemic, the Thai baht was the strongest-performing currency in Asia. Now, it’s the worst-hit currency in the region, according to Japan-based Mizuho Bank. The Thai economy has been shrinking over the past year, hitting lows which some compare to the contraction during the 1997 Asian financial crisis. The Japanese bank says the under-performance of the Thai baht is…
- Northern Thailand News
Man arrested in northeast Thailand, accused of producing fake bank notes
Police in the north-eastern province of Si Sa Ket have arrested a 37 old man accused of producing counterfeit currency. Phichaphob Phankham was detained at a property in the Nong Phai district as part of an investigation into a trail of fake 100 baht notes in circulation in Si Sa Ket and neighbouring provinces. Police say his arrest follows the…
- Economy News
Gold sales go up as Thais sell jewelry to pay for routine expenses
With job losses and pay cuts brought on by the pandemic, many Thais are lining up to sell their gold to bring in some cash, like 22 year old Suvirat Namvicha, an office worker in Bangkok who had her overtime expenses cut. Survirat, who is also pregnant, says she needed to sell a gold necklace to pay for her medical bills.…
- 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…
- Events
New commemorative bank notes spark worries of a mix-up
100 baht bank notes commemorating the Royal Coronation Ceremony of 2019, have reportedly raised concerns of people mistaking them for the usual 1,000 baht bank notes, due to their similar colours. The new bank notes, sport a slightly more gold hue, instead of the regular red/brown colour used for 100 baht notes, and feature a vertical orientation. The notes, issued…
- 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…
- 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
Thailand’s economy facing bleakest prediction in Asia
“The Bank of Thailand predicts that its gross domestic product will shrink by more than 8% this year.” While Thailand appears to have been successful in suppressing the Covid-19 virus, a report in The Bangkok Post today says the outlook for the country’s economy is far from favourable, calling it the worst in Asia. The Bank of Thailand predictions are…
- 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
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…
- 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…
- 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 $20 billion upper limit…
- Economy News
Thai baht hits highest level against the USD in six years
The baht finished in spectacular fashion after a year as one of the world’s most stable currencies, when it reached 30.15 baht against the US$, its highest level in six years. Kasikornbank Bank is forecasting that the Thai baht could move into a range of 30-30.30 baht to the dollar this week (up to January 3). Investors have been selling USD…
- 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…
- 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…
- Northern Thailand News
Tourism Council of Thailand cites Thai baht as biggest challenge to tourism
The strong Thai baht is proving to be the biggest obstacle in trying to lure tourists, according to The Tourism Council of Thailand who have had to lower its projection of over 40 million foreign visitors this year down to 39.7 million. The president of the council says the surging baht is the main reason for the decline. “It’s frightening…
- Expats
Strong Thai baht brings financial woes for expat retirees
PHOTO: AFP An interview with a retired Briton in today’s Bangkok Post illustrates the financial difficulties some expats now face in the Land of Smiles as a result of the strong baht. Brian Maxey moved to Pattaya from the UK to live off his sterling pension, but the surging Thai currency means he’s now finding it a challenge to meet…
