Thai Baht

  • Economy NewsGold sales go up as Thais sell jewelry to pay for routine expenses
    Caitlin AshworthTuesday, December 29, 2020
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    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 NewsThailand on US Treasury’s “watchlist” for suspected currency manipulation
    Caitlin AshworthThursday, December 17, 2020
    16 403

    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…

  • EventsNew commemorative bank notes spark worries of a mix-up
    ThaigerSunday, December 13, 2020
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    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…

  • Business NewsBank of Thailand takes action to curb Thai baht’s strength
    ThaigerMonday, November 23, 2020
    5 282

    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 NewsOverseas investors buy Thai bonds, optimistic that Covid-19 vaccine will revive tourism
    Caitlin AshworthFriday, November 13, 2020
    47 253

    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 NewsThai baht getting stronger
    Maya TaylorThursday, July 30, 2020
    4 290

    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 NewsThailand’s economy facing bleakest prediction in Asia
    Maya TaylorTuesday, July 7, 2020
    3 262

    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 NewsThailand’s Central Bank will act to restrain soaring baht
    Maya TaylorTuesday, June 2, 2020
    1 289

    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 NewsCurrency will be a key driver in Phuket’s (eventual) tourism recovery?
    Bill BarnettSaturday, April 11, 2020
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    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 NewsThe almighty baht set to fall further despite rate cuts, stimulus
    ThaigerWednesday, March 25, 2020
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    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 NewsThai Baht on the slide over fears of spread of Coronavirus outside China
    ThaigerTuesday, February 25, 2020
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    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…

  • Hot NewsBaht will continue to remain strong throughout 2020
    ThaigerWednesday, January 22, 2020
    4 269

    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 NewsThai baht hits highest level against the USD in six years
    ThaigerTuesday, December 31, 2019
    0 429

    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 NewsGovernment trying to tame strong baht, but bank says it will remain strong in 2020
    ThaigerWednesday, December 25, 2019
    0 204

    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 NewsThai baht dips after rate cut
    ThaigerFriday, November 8, 2019
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    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 NewsStrong Thai baht helps Central Group invest overseas
    Maya TaylorWednesday, November 6, 2019
    0 234

    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…

  • ExpatsStrong Thai baht brings financial woes for expat retirees
    Maya TaylorSaturday, October 5, 2019
    0 336

    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 NewsIndustry group calls for further cut in Thai policy interest rate
    ThaigerMonday, September 16, 2019
    0 246

    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 NewsLarge Thai business feeling the effects of US-China trade war, rise of the baht
    ThaigerSunday, September 15, 2019
    0 195

    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 NewsStrong baht poses a tough challenge for Thailand
    Maya TaylorThursday, September 12, 2019
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    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…

  • Crime NewsSuvarnabhumi baggage handler arrested over 20,000 baht theft
    ThaigerSunday, September 8, 2019
    0 211

    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…

  • Tourism NewsThailand’s tourism industry ponders drop of Chinese tourists
    ThaigerSaturday, September 7, 2019
    0 294

    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…

  • Economy NewsCentral Bank of Thailand voices concern over impact of economic slowdown
    ThaigerWednesday, September 4, 2019
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    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 NewsSoaring baht continues to court investors and speculators
    ThaigerTuesday, September 3, 2019
    0 229

    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…

  • Thailand NewsRice traders blame strength of Thai baht for hurting exports
    ThaigerTuesday, August 27, 2019
    0 239

    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 NewsIndustry minister says exporters will still need help to work-around strong Thai currency
    ThaigerWednesday, August 14, 2019
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    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 NewsThai baht may need another ‘haircut’ by the Bank of Thailand before the end of 2019
    ThaigerThursday, August 8, 2019
    0 238

    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 NewsCurrencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
    ThaigerThursday, August 8, 2019
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    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 NewsThailand’s baht is getting stronger, and that’s a problem
    ThaigerThursday, August 1, 2019
    0 521

    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…

  • ExpatsBritish and Australian expats and tourists ponder the Thai baht
    ThaigerTuesday, July 30, 2019
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    British and Australian expats and tourists ponder the Thai baht

    The British pound continues to sag against the strong Thai Baht. And things are predicted to worsen for British tourists and local expats relying on funds out of the UK, as analysts predict the GBP to drop further as the date approaches for a ‘no deal’ Brexit and the Thai Baht continues to surge. As of 11.30am Thai time, the…