webfact Posted June 20, 2019 Share Posted June 20, 2019 Thai central bank says to monitor speculation amid rapid baht gains FILE PHOTO: A view of the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo BANGKOK (Reuters) - Thailand's baht has risen faster and more than regional peers over the past two weeks, driven by domestic and external factors, a central bank official said on Thursday, as the baht hit its highest level in nearly six years against the U.S. dollar. The central bank will closely monitor the situation and any transactions aimed at using Thailandas a place for short-term speculation in the Thai currency, Assistant Governor Vachira Arromdee said in a statement. If the baht continues to appreciate faster than the currencies of its trade partners and competitors, it may not be in line with Thailand's economic fundamentals and will affect the economy and adjustments of business operators, she said. Going forward, external factors will still be difficult to predict and will continue to influence emerging currencies, Vachira said. The baht traded at 30.96 per U.S. dollar on Thursday, having strengthened about 5.1% against the greenback so far this year, becoming the best performing currency in Asia. (Reporting Orathai Sriring; Editing by Jacqueline Wong) -- © Copyright Reuters 2019-06-21 Follow Thaivisa on LINE for breaking Thailand news and visa info 2 1 Link to comment Share on other sites More sharing options...
Swedenlars Posted June 20, 2019 Share Posted June 20, 2019 Thai central bank says to monitor speculation amid rapid baht gains FILE PHOTO: A view of the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo BANGKOK (Reuters) - Thailand's baht has risen faster and more than regional peers over the past two weeks, driven by domestic and external factors, a central bank official said on Thursday, as the baht hit its highest level in nearly six years against the U.S. dollar. The central bank will closely monitor the situation and any transactions aimed at using Thailandas a place for short-term speculation in the Thai currency, Assistant Governor Vachira Arromdee said in a statement. If the baht continues to appreciate faster than the currencies of its trade partners and competitors, it may not be in line with Thailand's economic fundamentals and will affect the economy and adjustments of business operators, she said. Going forward, external factors will still be difficult to predict and will continue to influence emerging currencies, Vachira said. The baht traded at 30.96 per U.S. dollar on Thursday, having strengthened about 5.1% against the greenback so far this year, becoming the best performing currency in Asia. (Reporting Orathai Sriring; Editing by Jacqueline Wong) -- [emoji2398] Copyright Reuters 2019-06-21 Follow Thaivisa on LINE for breaking Thailand news and visa infoDollar weaknessGesendet von meinem SM-N950F mit Tapatalk 2 1 2 Link to comment Share on other sites More sharing options...
Popular Post jaiyen Posted June 21, 2019 Popular Post Share Posted June 21, 2019 And because the Baht is high the A$ exchange rate is so bad we can"t afford to go to Thailand for a holiday or visit family. Cheaper to be here in Perth. Nearly everything is more expensive in Thailand. It will affect the tourism market, except for the Chinese ! 10 2 1 Link to comment Share on other sites More sharing options...
Popular Post canopus1969 Posted June 21, 2019 Popular Post Share Posted June 21, 2019 1 hour ago, jaiyen said: And because the Baht is high the A$ exchange rate is so bad we can"t afford to go to Thailand for a holiday or visit family. Cheaper to be here in Perth. Nearly everything is more expensive in Thailand. It will affect the tourism market, except for the Chinese ! Maybe, but now we may be able afford to go to Austrailia on holiday???? 4 Link to comment Share on other sites More sharing options...
Popular Post fforest1 Posted June 21, 2019 Popular Post Share Posted June 21, 2019 Quit beating around the bush.....Just make one baht= to one dollar and call it a day..... 2 1 3 Link to comment Share on other sites More sharing options...
watcharacters Posted June 21, 2019 Share Posted June 21, 2019 1 hour ago, jaiyen said: It will affect the tourism market, except for the Chinese ! Wonder how the Chinese afford more expensive? 1 1 Link to comment Share on other sites More sharing options...
rwill Posted June 21, 2019 Share Posted June 21, 2019 (edited) external factors, lol The external factor here being people that want to invest outside of their country. Edited June 21, 2019 by rwill Link to comment Share on other sites More sharing options...
Eric Loh Posted June 21, 2019 Share Posted June 21, 2019 15 minutes ago, watcharacters said: Wonder how the Chinese afford more expensive? Yuan against Baht has been relatively stable since being fully convertible 6-7 years ago. Link to comment Share on other sites More sharing options...
RobbyXNorway Posted June 21, 2019 Share Posted June 21, 2019 Are people setting up a carry trade in THB to USD? I know it was popular with the Japanese Yen to USD for a very long time. Something is fishy here. Thailand economic fundamentals do not indicate a STILL strenghtening THB after their dropoff in Exports. 2 Link to comment Share on other sites More sharing options...
Bluespunk Posted June 21, 2019 Share Posted June 21, 2019 (edited) 2 hours ago, jaiyen said: And because the Baht is high the A$ exchange rate is so bad we can"t afford to go to Thailand for a holiday or visit family. Cheaper to be here in Perth. Nearly everything is more expensive in Thailand. It will affect the tourism market, except for the Chinese ! Chinese tourist numbers are steadily declining. Edited June 21, 2019 by Bluespunk 1 Link to comment Share on other sites More sharing options...
marko kok prong Posted June 21, 2019 Share Posted June 21, 2019 This must be hammering Thai exports,and hitting farmers hard. Also many ex-pats have seen massive falls in their pensions,it must also be hitting the general Thai people. Recentley some of my friends who have a bit of money here have been talking about sending baht to UK/Australia,given the parlous exchange rates on both those countries currencey . 1 Link to comment Share on other sites More sharing options...
Nong Khai Man Posted June 21, 2019 Share Posted June 21, 2019 4 hours ago, jaiyen said: And because the Baht is high the A$ exchange rate is so bad we can"t afford to go to Thailand for a holiday or visit family. Cheaper to be here in Perth. Nearly everything is more expensive in Thailand. It will affect the tourism market, except for the Chinese ! It will affect the tourism market, except for the Chinese !....Why The Chinese Hardly Spend Faaarrkk All !! Link to comment Share on other sites More sharing options...
lvr181 Posted June 21, 2019 Share Posted June 21, 2019 The rich elitist Thais can afford more goods/investments outside the country while the struggling farmers will be selling to a diminishing market? ???? Rice farmers becoming #3 (or lower) in the world instead of their current #2 position? Link to comment Share on other sites More sharing options...
Popular Post Thongkorn Posted June 21, 2019 Popular Post Share Posted June 21, 2019 (edited) Just paid £4 less for a 10 kilo bag of Jasmine rice in the UK We usualy get Thai rice, This time we got Cambodia rice, Same rice different area, Think that says it all, Many Thai producers and factory's are going to struggle, As for the Chinese tourists Most are state sponcered Holidays, When they get here they dont spend a lot of money in the Local Community, We are not going to Thailand next year for the first time in 14 years along with many of our friends, going to go to Europe for a change a lot cheaper, also a lot of our Thai friends are not sending as much money home to their family's now, becasue of the strong baht, the reviving family are going to suffer that will have a knock on affect for their lives and their communitys. Edited June 21, 2019 by Thongkorn 4 Link to comment Share on other sites More sharing options...
Srikcir Posted June 21, 2019 Share Posted June 21, 2019 3 hours ago, Bluespunk said: Chinese tourist numbers are steadily declining. China's rapid growth in domestic tourism continued in 2018 when the country recorded a total of 5.54 billion domestic tourist trips, up 10.76 percent year-on-year. http://www.xinhuanet.com/english/2019-01/30/c_137787597.htm "Stay in China" may be as important "Made in China" for the nation's economic future. That shouldn't unexpected as that's the plan currently being followed by Prayut's government. Link to comment Share on other sites More sharing options...
Bluespunk Posted June 21, 2019 Share Posted June 21, 2019 (edited) 10 minutes ago, Srikcir said: China's rapid growth in domestic tourism continued in 2018 when the country recorded a total of 5.54 billion domestic tourist trips, up 10.76 percent year-on-year. http://www.xinhuanet.com/english/2019-01/30/c_137787597.htm "Stay in China" may be as important "Made in China" for the nation's economic future. That shouldn't unexpected as that's the plan currently being followed by Prayut's government. bullet point three would imply numbers are falling. Though I do see your point on the apparent desire to sup with the devil for a bowl of investor pottage. Hope his long spoon is at the ready. Edited June 21, 2019 by Bluespunk Link to comment Share on other sites More sharing options...
DrTuner Posted June 21, 2019 Share Posted June 21, 2019 5 hours ago, canopus1969 said: Maybe, but now we may be able afford to go to Austrailia on holiday???? I'm going in a few weeks for the first time, been checking this and that from the internet. Prices (restaurant/shopping/attractions) seem ok to me. Quality I guess is better. Not sure about the Chinese infestation status though. Being a tourist in Thailand is a crappy quality proposition these days, even without a strong baht. 1 Link to comment Share on other sites More sharing options...
chama Posted June 21, 2019 Share Posted June 21, 2019 With the unstable government policies will be difficult to put into place to stabilize the Baht rate extending the time negative impacts will hit farmers and other exporters as well as the expat community Link to comment Share on other sites More sharing options...
lamyai3 Posted June 22, 2019 Share Posted June 22, 2019 (edited) 21 hours ago, Eric Loh said: Yuan against Baht has been relatively stable since being fully convertible 6-7 years ago. Not sure most Chinese would agree, based on the slide in the past four years. Edited June 22, 2019 by lamyai3 1 Link to comment Share on other sites More sharing options...
mfd101 Posted June 22, 2019 Share Posted June 22, 2019 Can't quite find it but I'm sure there must be a conspiracy lurking in there somewhere. Link to comment Share on other sites More sharing options...
GeorgeCross Posted June 22, 2019 Share Posted June 22, 2019 22 hours ago, Eric Loh said: Yuan against Baht has been relatively stable since being fully convertible 6-7 years ago. err its down 22% in 2 years. how is that stable? 1 Link to comment Share on other sites More sharing options...
mfd101 Posted June 22, 2019 Share Posted June 22, 2019 1 minute ago, GeorgeCross said: err its down 22% in 2 years. how is that stable? Perhaps his concept of 'relative' is purely relative. 1 Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
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