Thai baht's strength in line with regional peers: central bank

 

A Thailand Baht note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

 

BANGKOK (Reuters) - Strength in Thailand's baht is in line with regional currencies, as the dollar has weakened, the central bank said on Wednesday.

 

With high external uncertainty, businesses should focus on managing currency risks and enhance productivity, Assistant Governor Chantavarn Sucharitakul said in a statement.

 

The baht <THB=TH>, Asia's best performing currency, has appreciated about 2.6 percent against the dollar this year, hovering around its highest in more than eight months hit last week.

 

Earlier on Wednesday, Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said the central bank should not raise its policy rate further this year, as it would increase cost for businesses and make the baht even stronger, hitting already slower exports.

 

Last month, the central bank hiked its benchmark rate for the first time in more than seven years, by 25 basis points to 1.75 percent.

 

It will next review monetary policy on Feb. 6.

 

-- © Copyright Reuters 2019-01-23

What a sack of lies......Pull up ANY currency chart except Singapore in SE Asia...The Baht has been vastly stronger for many years...

???? Sure whatever you say

Good for the 1% that move their wealth into foreign investments.

2 hours ago, fforest1 said:

Pull up ANY currency chart except Singapore in SE Asia

Even the SGD has lost against the Baht during last month.

2 hours ago, fforest1 said:

What a sack of lies......Pull up ANY currency chart except Singapore in SE Asia...The Baht has been vastly stronger for many years...

Imagine being a Thai billionaire who likes to live in Europe or other western country.

 

Considering the corruption and common goal of other super 0.1% rich you can pull the strings.

 

When you have billions every % makes for small fortune.

1 minute ago, AtoZ said:

Imagine being a Thai billionaire who likes to live in Europe or other western country.

 

Considering the corruption and common goal of other super 0.1% rich you can pull the strings.

 

When you have billions every % makes for small fortune.

I guess you were not here in 1997 as it totally contradicts your argument.  Suggest reading a bit more before you post.  Or a trip to Thailand might be an eye opener for you. 

A stronger bath will also make imports cheaper since Thailand heavily relies on foreign goods and services. 

14 minutes ago, racket said:

A stronger bath will also make imports cheaper since Thailand heavily relies on foreign goods and services. 

You seem to know a lot about it.  Does Thailand import more than it exports? 

 

http://www2.bot.or.th/statistics/BOTWEBSTAT.aspx?reportID=643&amp;language=ENG

Edited January 23, 20197 yr by marcusarelus

I read the stronger Thai baht was making it harder to sell rubber overseas.

Thai economy relies a lot on exports and tourism. Two things that do not benefit from a strong Baht.

Sent from my ASUS_Z017DB using Thailand Forum - Thaivisa mobile app

10 hours ago, racket said:

A stronger bath will also make imports cheaper since Thailand heavily relies on foreign goods and services. 

That might be so, but looking in the shops I see foreign products with hiked prices.

https://www.x-rates.com/table/?from=THB&amount=1.00

 

10 years  go the baht was 11/Ringgit. Now it is 7.6/MR a rise of 30%

Go ahead, kill the exports and tourism from the Western countries....you won't get that back easy when it hits the fan.....

The actual change in currency for Thai Bht from 31 January 06 to 11 Jan 19 is

USD       - 18.51

Euro       - 22.68

UK         -  41.04

Japan     -  11.88

Aust       - 22.46

Sing D     -  2.1

Swiss F    +6.15

Cheers

2 minutes ago, natway09 said:

The actual change in currency for Thai Bht from 31 January 06 to 11 Jan 19 is

USD       - 18.51

Euro       - 22.68

UK         -  41.04

Japan     -  11.88

Aust       - 22.46

Sing D     -  2.1

Swiss F    +6.15

Cheers

The same goes for just about all other countries in the world too....The Baht has been incredibly strong....

If doing an extension based on monthly income and you're right on the edge, then you might want to reconsider and just go with the 800,000 option this year. BTW, the culprit as far as the dollar goes, is Weak Dollar Trump, who has been wanting to devalue the currency since he came into office. If he gets his way, the dollar will go below 30 and maybe to 29. It was there not that long ago.

On 1/23/2019 at 1:44 PM, KhunBENQ said:

Even the SGD has lost against the Baht during last month.

SGD has been going down against the baht for 3 years. Take a look at the chart.