Finance concerned continuing baht appreciation may hurt exports

[snoop1130]

Finance concerned continuing baht appreciation may hurt exports

 

 

The Finance Ministry is concerned with the steady appreciation of baht currency, fearing that if the trend is allowed to continue unchecked, Thailand’s economic expansion will be affected.

 

Finance permanent secretary Somchai Sajjapongse said Monday  (Jan 22) that Finance Minister Apisak Tantiwonrawong had instructed officials concerned to mete out additional measures to prevent the baht to further appreciate to the extent that it will hurt Thai exports and economic growth.

 

As the first step, Mr Somchai said the Office of Public Debt Management was ordered to accelerate servicing of foreign debt before schedules although this measure would not help much because the amount of foreign debt was not substantial.

He went on saying that the Bank of Thailand was closely monitoring the situation. He also advised business operators, especially SMEs, to take steps to protect themselves from the risk of foreign exchange fluctuations.

 

Full Story: http://englishnews.thaipbs.or.th/finance-concerned-continuing-baht-appreciation-may-hurt-exports/

 

-- © Copyright Thai PBS 2018-1-22

[Othello]

Devalue it for exports, tourism and Expats please.


Sent from my iPhone using Thaivisa Connect

[eliotness]

Is it not that the dollar,  pound and euro are falling in value ?

[Othello]

Is it not that the dollar,  pound and euro are falling in value ?

No! Euro and Pound are rising and the Baht was always going to have a problem being too high to support its Exports. A gradual fall imho is likely to be what comes next


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[sawadee1947]

3 hours ago, eliotness said:

Is it not that the dollar,  pound and euro are falling in value ?

the pound steadily downwards of course, the dollar not visible, and the Euro is strong as always,....

[Othello]

Pound is back over 44. What u reading?


Sent from my iPhone using Thaivisa Connect

[Bob12345]

4 hours ago, eliotness said:

Is it not that the dollar,  pound and euro are falling in value ?

Its always a value relative to something else, so if the baht gets stronger the other currencies get weaker. No matter how you label it, the rssult is the same.

 

Of course we all hope the baht will weaken as most here have their capital or income in a foreign currency, its the US complaining that the baht is artificially weak and should be stronger (trade deficit of the US).

 

Unfortunately for most here (including me), my guess is that the baht will get stronger coming years which might be trouble for the local economy (less exports and less tourists).

 

P.s. less tourists as in less tourist growth, not a decline in absolute numbers

Edited January 23, 2018 by Bob12345

[Berkshire]

This should be a lesson to all the rubes on TV who always cry "manipulation" every time the baht goes up.  If the powers-that-be wanted to manipulate the baht, they'd weaken it because that would benefit the major industries in export and tourism.  The baht getting stronger is not what the Thai gov wants and has more to do with all the crap going on in our home countries, in my case, the USA.  There's also quite a bit of money flowing into the Thailand securities market.  It's all about supply and demand.

[Krataiboy]

Never mind hurting exports. It's killing us expats!