Finance Ministry asks BOT to manage baht to help exports

By The Nation

 

Finance Minister Arkhom Termpittayapaisith

 

Finance Minister Arkhom Termpittayapaisith has asked the Bank of Thailand to manage the baht in a way that favours exporters and economic recovery.

 

Arkhom said on Wednesday that the economy is expected to contract less than previously projected this year, thanks to recovering domestic purchasing power. The government also continues to launch new stimulus measures to boost flagging economic engines.

 

The ministry's Fiscal Policy Office has revised its 2020 GDP forecast upwards from an 8.5 per cent contraction to 7.7 per cent contraction. Arkhom expects the National Economic and Social Development Council to follow suit next week.

 

The minister assured that the government has enough budget ammunition for the 2021 fiscal year, despite continuing to launch stimulus measures to aid recovery from the Covid-19 fallout.

 

The Revenue Department has maintained its revenue target of Bt2.085 trillion next year, he added.

 

Source: https://www.nationthailand.com/business/30397766

 

-- © Copyright The Nation Thailand 2020-11-12

 

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Oh, they've been very much managing for the last few years, that much is obvious.

Would that be "currency manipulation" by another name?

"Can you please do the opposite of what we told you to do 7 years ago" All our money is out of the country now

The government instructing the central bank to manage the baht.....this is the type of news that would have made Trump explode! And rightly so!

That is called currency manipulation, so BOT better wait, until Trump is out of The White House.

6 hours ago, webfact said:

Finance Minister Arkhom Termpittayapaisith has asked the Bank of Thailand to manage the baht in a way that favours exporters and economic recovery.

So, that must mean that he is giving a clear order to put the coin back in it´s place from the overrated heights it has flown freely in for so long.

6 hours ago, webfact said:

Finance Minister Arkhom Termpittayapaisith has asked the Bank of Thailand to manage the baht in a way that favours exporters and economic recovery.

Heavens above, currency manipulation in Thailand, who'd have thought.

6 hours ago, webfact said:

asks BOT to manage baht to help exports

In other words, ask BOT to remove the artificial Teflon from the Baht. 

this will get you in a currency manipulation list pretty quickly, Thailand

Currency manipulation is against WTO rules so overseas countries are now able to slap tariffs on Thai exports. Great move Minister!

No it isn't currency manipulation. Read up on it before spouting rot.

I'd say the BOT has managed the baht superbly-- for the people who count. Sure didn't hurt that acquisition of Tesco Lotus, did it?

1 hour ago, Dagfinnur Traustason said:

So, that must mean that he is giving a clear order to put the coin back in it´s place from the overrated heights it has flown freely in for so long.

"For so long"    Dagfinnur.........you mean back to that very short period where it came out of near collapse.

The Baht is still not as strong as before that period. Sure for selfish reasons I would like to see it lower, but tha'ts not the long term history of the baht.

1 hour ago, Dagfinnur Traustason said:

So, that must mean that he is giving a clear order to put the coin back in it´s place from the overrated heights it has flown freely in for so long.

We Wish,Not going to hold my breath. ????

The political nervousness which is advancing through the country and the economic pain that the government is facilitating could result in huge social and political change in the country so need for BOT action. Devious action I actually meant previous action had no impact.

If in doubt do nothing and Buddha will take care anyway.

Edited November 12, 20205 yr by Brer

30 minutes ago, sanuk711 said:

"For so long"    Dagfinnur.........you mean back to that very short period where it came out of near collapse.

The Baht is still not as strong as before that period. Sure for selfish reasons I would like to see it lower, but tha'ts not the long term history of the baht.

No country in modern history has gone from almost 40 million tourists per year to zip zero as well.

The baht is too strong, period! If it´s going to fall or be devalued is anybody´s guess.

Euro down 2 baht in 2 weeks this currency doesn't make sense ..most long term pats will not spend ..

2 hours ago, Traubert said:

No it isn't currency manipulation. Read up on it before spouting rot.

 

How would you define it?

I think a majority of people will be happy if the baht falls (except Thai importers, which shouldn’t be too bad). 
 

Bring rates down to zero and throw out a bunch of stimulus into the economy in a response to “covid recovery efforts”. Every other country is doing it.
 

 I wish they could just print money LOL.  Either way, they have to be careful not to get labeled a currency manipulator or else possibly face trade sanctions. It sucks. 

5 hours ago, Dagfinnur Traustason said:

No country in modern history has gone from almost 40 million tourists per year to zip zero as well.
The baht is too strong, period! If it´s going to fall or be devalued is anybody´s guess.

So now everyone believes TOT numbers...... my point was that BEFORE it had the 40 million tourists in the 80s most of the 90s --it was a lot lot stronger then it is now.

 

"The baht is too strong, period! If it´s going to fall or be devalued"  That's your guess (or wish ) Dagfinnur, but you do understand that they can not devalue their own currency , so your saying it will fall---I hope your right, but the world markets don't seem to be running away from it at the moment---and wishing wont make it so.

No currency manipulation there.  Oh, and let's have extremely high tariffs. too.