Thailand has not intervened in baht for trade advantage - central bank

[webfact]

Thailand has not intervened in baht for trade advantage - central bank

 

FILE PHOTO: New baht banknotes featuring Thailand's King Maha Vajiralongkorn are unveiled during a news conference at Bank of Thailand headquarters in Bangkok, Thailand, July 3, 2018. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand has not intervened in the baht <THB=TH> for any competitive trade advantage and its foreign exchange transactions have been in line with rapid capital movements, the central bank said on Thursday.

 

The comments came after a media report that Thailand could be added to a U.S. watch list for currency manipulation.

 

The baht <THB=TH> has been moving both ways, the central bank said in a statement.

 

(Reporting by Orathai Sriring; Editing by Ed Davies)

 

 

-- © Copyright Reuters 2020-07-23

 

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[robblok]

So the US is saying that now that the THB is lower its because of government manipulations. 

 

That is great (not) as Thailand now certainly will not lower the THB as it would worry about the USA.

 

If anything the THB is still high compared with before. Not sure why the US would think they are manipulating it downwards. 

[mohinga]

I'm in Malaysia, and have no idea when I might be able to enter Thailand again... cuz covid. This is the first for me regarding the new banknotes. I have some of the old ones and am wondering how long they will remain valid. Any hints from the powers on high?

[nausea]

I'm confused. 

[timendres]

10 minutes ago, mohinga said:

I'm in Malaysia, and have no idea when I might be able to enter Thailand again... cuz covid. This is the first for me regarding the new banknotes. I have some of the old ones and am wondering how long they will remain valid. Any hints from the powers on high?

Those notes will be valid for a long time. No worries.

[RichardColeman]

1 hour ago, webfact said:

The baht <THB=TH> has been moving both ways, the central bank said in a statement.

I could be wrong, but I think that applies to every currency on the planet. Though against my £ it's mostly one way traffic most of the time

[mohinga]

.

Edited July 23, 2020 by mohinga
quoted wrong post

[Susco]

2 hours ago, robblok said:

So the US is saying that now that the THB is lower its because of government manipulations. 

 

That is great (not) as Thailand now certainly will not lower the THB as it would worry about the USA.

 

If anything the THB is still high compared with before. Not sure why the US would think they are manipulating it downwards. 

So you think that US report, which actually was known already to the Thai government 2 weeks ago, is based on what happened last week in the currency market?

 

I recall you always claim to be knowledgeable about how currency markets work

 

Edited July 23, 2020 by Susco

[vivananahuahin]

Now coming the big business,in december buy and now sale,the big sales are beginning,it was writed in the sky.

[hotchilli]

5 hours ago, webfact said:

The baht <THB=TH> has been moving both ways, the central bank said in a statement.

A bit like the foxtrot... you know how that goes !

[robblok]

3 hours ago, Susco said:

So you think that US report, which actually was known already to the Thai government 2 weeks ago, is based on what happened last week in the currency market?

 

I recall you always claim to be knowledgeable about how currency markets work

 

Where do i say what happened last week in the currency market ? 

 

Not sure where you got that from in my post. 

 

My point is that Thai baht has been high for quite some time and now its a bit lower. But to say that the government is actively manipulating the currency is crazy. They did some interest rate cuts (quite normal). 

 

But its not as if the baht is really low right now. If anything its still high compared with years before.

[Matzzon]

8 hours ago, webfact said:

The baht <THB=TH> has been moving both ways, the central bank said in a statement.

Yes, but more up than it should have done. I am definitely calling bull on that one!

[Redline]

Either way, he is responding to the article that said Thailand now meets the three criteria of a currency manipulator.

The USA government has said nothing about it, and probably won’t.  But, they do manipulate trade through high tariffs-and that should be corrected because it causes a large trade imbalance.  Thailand needs to stop living off foreign countries and foreigners.  Start by changing the education system, laws, legal system, corruption...

Correct the laws so foreign companies can play on a level playing field.  Educate the citizens to think analytically, and freely-invest in IT education...and hundreds of other things

[Peterphuket]

7 hours ago, timendres said:

Those notes will be valid for a long time. No worries.

He really worries looks like, I think he have a lot Thai banknotes with King number 9, which he cannot account for.

[CNXexpat]

It´s good for EURO owners now, because we get more Baht. Not so good for Dollar owners. But the EURO is increasing against the Dollar too.

[Eric Loh]

I will follow some of Thailand peer currencies to make a judgement of BOT's statement. As much as I can see, all peer currencies like the MYR, Peso, SD, Dong and Rupiahs are also moving in the same trend as Baht. If there are peer currencies that has devalued much, that will be the MYR, Dong and SD which are under US monitoring list.