Jai Dee Posted March 21, 2006 Share Posted March 21, 2006 The Ministry of Commerce reveals that currency supply in 2006 is 4 times higher than in 1997 The Ministry of Commerce revealed that the local currency market of East Asia in 2005 had 4 times more currency reserves than in 1997. Mr. Naris Chaisut (นริศ ชัยสูตร), director of the Fiscal Policy Office, stated that ever since the East Asia local currency market has entered a joint cooperative venture to standardize currency supplies, the currency reserve of the regional nations has quadrupled from $228.3 billion in 1997 to $930.9 billion in 2006. Thailand itself has a currency reserve of 10.6 billion US dollars, which has expanded from 6.7% of the national GDP to 42.7% of the GDP in the third trimester of 2006. Source: Thai National News Bureau Public Relations Department - 21 March 2006 Link to comment Share on other sites More sharing options...
samran Posted March 21, 2006 Share Posted March 21, 2006 Currency reserves and broad money supply are two seperate things. Link to comment Share on other sites More sharing options...
billd766 Posted March 22, 2006 Share Posted March 22, 2006 When in 1997, before or after the crash? Link to comment Share on other sites More sharing options...
backflip Posted March 23, 2006 Share Posted March 23, 2006 The purpose of your post, Jai dee, is exactly...what...? Link to comment Share on other sites More sharing options...
Michael W Posted March 24, 2006 Share Posted March 24, 2006 The Ministry of Commerce reveals that currency supply in 2006 is 4 times higher than in 1997 The Ministry of Commerce revealed that the local currency market of East Asia in 2005 had 4 times more currency reserves than in 1997. Mr. Naris Chaisut (นริศ ชัยสูตร), director of the Fiscal Policy Office, stated that ever since the East Asia local currency market has entered a joint cooperative venture to standardize currency supplies, the currency reserve of the regional nations has quadrupled from $228.3 billion in 1997 to $930.9 billion in 2006. Thailand itself has a currency reserve of 10.6 billion US dollars, which has expanded from 6.7% of the national GDP to 42.7% of the GDP in the third trimester of 2006. Source: Thai National News Bureau Public Relations Department - 21 March 2006 BOT's foreign exchange reserves fell from $37.2 billion in December 1996 to $30.9 billion in June 1997 (prior to the baht float). In addition, the BOT reported in August 1997 that in the course of the year it had incurred off-balance sheet obligations to deliver $23.4 billion dollars in the forward market over a 12-month period, so that net reserves were actually lower. Link to comment Share on other sites More sharing options...
BKK90210 Posted March 25, 2006 Share Posted March 25, 2006 (edited) ...Thailand itself has a currency reserve of 10.6 billion US dollars, which has expanded from 6.7% of the national GDP to 42.7% of the GDP in the third trimester of 2006. Source: Thai National News Bureau Public Relations Department - 21 March 2006 Do you know if this "currency reserve" is in actual US dollar?, or the local thai currency reserve is equalivant to 10.6 billion dollars. Somehow it's not that clear to me of which one. Also I would be more interested in GNP number, not GDP. I think if he's talking about the GDP....then I would have to guess....he's talking about the local thai currency reserve with value = to 10.6 billion dollars. Then I would love to find out the rate of increase/or decrease in the foreign reserve - in the past 2 yrs. Do you have this number also? If we have the declining both in GNP and foriegn reserve....then this is not good for thailand ....but it will be good for those holding US dollar though Edited March 25, 2006 by BKK90210 Link to comment Share on other sites More sharing options...
Michael W Posted March 26, 2006 Share Posted March 26, 2006 Do you know if this "currency reserve" is in actual US dollar?, or the local thai currency reserve is equalivant to 10.6 billion dollars.I took it to mean Thailand's central bank reserve of foreign currencies, e.g. U.S. dollars, euros, yen, yuan, etc. had a combined value of US$10.6 billion since this is more easy to value internationally than the value of all baht notes and coins in circulation. Link to comment Share on other sites More sharing options...
cclub75 Posted March 26, 2006 Share Posted March 26, 2006 (edited) Do you know if this "currency reserve" is in actual US dollar?, or the local thai currency reserve is equalivant to 10.6 billion dollars.I took it to mean Thailand's central bank reserve of foreign currencies, e.g. U.S. dollars, euros, yen, yuan, etc. had a combined value of US$10.6 billion since this is more easy to value internationally than the value of all baht notes and coins in circulation.As usual with the Thai Bureau of Blablabla, it's difficult to understand their press statements. Thailans has a foreign currency reserve of 54 billions USD. Not 10. You can see the source on the website of the BOT (Bank of Thailand) : http://www.bot.or.th/bothomepage/databank/...s/Reserve_e.asp Unless they speak about the reserve in paper bills... Who knows ? Edited March 26, 2006 by cclub75 Link to comment Share on other sites More sharing options...
samran Posted March 26, 2006 Share Posted March 26, 2006 So what do are you guys getting at??? That the central bank has more reserves now to defend the baht against speculators? Any central bank is pissing into the wind if it thinks reserves are going to do anything substantial to protect a currency. I mean, Soros has broken the bank of England once already and forced it out of the European exchange rate mechanism. The only thing is to keep the economy healthy, based on fundamentals, and allowing your currency to reflect that, by letting it be traded freely. Link to comment Share on other sites More sharing options...
BKK90210 Posted March 27, 2006 Share Posted March 27, 2006 So what do are you guys getting at???That the central bank has more reserves now to defend the baht against speculators? Any central bank is pissing into the wind if it thinks reserves are going to do anything substantial to protect a currency. I mean, Soros has broken the bank of England once already and forced it out of the European exchange rate mechanism. The only thing is to keep the economy healthy, based on fundamentals, and allowing your currency to reflect that, by letting it be traded freely. Is thailand currently floating or pegging their baths...do you know? Link to comment Share on other sites More sharing options...
Michael W Posted March 28, 2006 Share Posted March 28, 2006 Is thailand currently floating or pegging their baths...do you know?It's what they call a 'managed float' which seems to mean that overall they let the market determine the baht's value, but the Bank of Thailand may occasionally intervene by using their foreign currency reserve to either buy or sell baht to moderate any huge swings. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now