Thai Baht
- 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…
- 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…
- 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…
- 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…
- Crime News
Suvarnabhumi baggage handler arrested over 20,000 baht theft
PHOTO: sanook.com A South Korean tourist was savvy enough to photograph all her holiday money before travelling to Thialand. Her precaution has led to the arrest of a baggage handler at Suvarnabhumi. The South Korean woman took the precaution of photographing all her Thai baht before putting it in a wallet in checked luggage on her flight. When Lee Soyeong travelled…
- Economy News
Central Bank of Thailand voices concern over impact of economic slowdown
PHOTO: Thai PBS World The Bank of Thailand has expressed concern about the country’s rising household debt as a result of the sluggish economy. The bank’s assistant governor Titanun Mallikamas was speaking on Monday, in response to the National Economic and Social Development Council raising the matter at a press conference. “We are closely monitoring household debts, as Thai families…
- 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…
- Thailand News
Rice traders blame strength of Thai baht for hurting exports
PHOTO: Wikipedia The president of the Thai Rice Exporters Association, Charoen Laothamtas, is concerned that the strong Thai baht is having a negative impact on rice exports. He notes that the baht has risen about 6% against the US dollar since January, whereas the Vietnam dong has held steady and the Indian rupee has even weakened. “The stronger baht has…
- 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
Currencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
Central banks in India, Thailand and New Zealand cut interest rates this week in an attempt to fend off any harm from the spiralling US-China trade war. The escalation of the trade war, sparked by fresh US tariff threats by US President Trump over the weekend, is seen as the reason for the policy shift. On Monday, the People’s Bank…
- Business News
Softening Chinese yuan no threat to Thai baht
The Chinese yuan dropped sharply to its weakest level against the US dollar in more than a decade, raising fears of further dangerous escalation in the US-China trade war. Yesterday, the Chinese yuan dropped below the 7 yuan to the US dollar threshold, marking the first time the renminbi has depreciated against the dollar since May 2008. The depreciation of…
- 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…
- 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…
- Business News
The Thai Baht in 2022 – a prediction
Please note: This is just ONE website’s predictions of the currencies in the future. It should not be taken as a serious representation of the state of the world currencies in 2022. Trying to find a few good numbers amid the bad we thought we’d look forward three years to some of the world’s major currencies and their projected performance…
- 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
Thai baht lowest since January
The Thai baht has been Asia’s best-performing currency during Q1, 2019. But things appear to be losing momentum as the baht falls to its lowest since January. The Thai baht weakened to as low as 32.035 per dollar, the lowest level since January 10th and falling through the psychological support of 32 baht in the US dollar. Sentiment for the…
