Stimulus packages expected to strengthen baht

[webfact]

Stimulus packages expected to strengthen baht

By THE NATION

 

 

The baht opened at 30.12 to the US dollar on Tuesday, weakening from Monday's close of 30.12.

 

The Thai currency is likely to move between 30.05 and 30.25 on Tuesday, Krungthai market strategist Poon Panichpibool said.

 

Poon said that the financial markets were still in risk-off state, due to concerns about the Covid-19 crisis around the world. Also, the market is monitoring the US Treasury Department under Janet Yellen, the new Treasury secretary, he added.

 

Yellen’s opinion on the dollar could weaken the currency, as she wants it to move in line with the market mechanism.

 

The market strategist explained that if the US political situation stabilises, the Biden government would push stimulus measures and the market would return to a risk-on state again.

 

In Thailand, the baht’s main factor was fund flows from foreign investors, which depends on the Covid-19 situation in the country.

 

In the short term, he advised investors to keep an eye on stimulus packages issued by the government this week. Poon added that the packages could soon strengthen the baht.

 

Source: https://www.nationthailand.com/news/30401448

 

 

-- © Copyright The Nation Thailand 2021-01-19

 

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[nausea]

4 minutes ago, webfact said:

The baht opened at 30.12 to the US dollar on Tuesday, weakening from Monday's close of 30.12.

There's something not quite right with this statement, can't put my finger on it, it'll come to me.

[Kwasaki]

Yeah I'm not into finance but how does a strong baht benefit Thailand.? 

[Scot123]

2 hours ago, Kwasaki said:

Yeah I'm not into finance but how does a strong baht benefit Thailand.? 

Just the rich and the buying of military toys.

[EricTh]

Baht has already strengthened to 29.95 recently even in bad times. In a few more months, it may break 27-28 once the vaccine gets rolling.

 

 

[Isaan sailor]

Thai Baht seems to follow the Chinese Yuan.  For the past six months—they have both rocketed up—while western currencies have withered. So what are they hiding?

[Leaver]

6 hours ago, Kwasaki said:

Yeah I'm not into finance but how does a strong baht benefit Thailand.? 

 

Cheaper for the wealthy Thai elite to go shopping for offshore assets.  

 

They couldn't care less about Thai workers in factories or tourism.  

[digger70]

21 minutes ago, Isaan sailor said:

Thai Baht seems to follow the Chinese Yuan.  For the past six months—they have both rocketed up—while western currencies have withered. So what are they hiding?

Nothing ,the Aus dollar today is the Highest since november 2018 So what's happening the Aus $ going up or the THB going Down.

[hotchilli]

12 hours ago, Isaan sailor said:

Thai Baht seems to follow the Chinese Yuan.  For the past six months—they have both rocketed up—while western currencies have withered. So what are they hiding?

Truth?

[Eric Loh]

21 hours ago, Kwasaki said:

Yeah I'm not into finance but how does a strong baht benefit Thailand.? 

I got one. Petrol from the pumps will be cheaper. 

[Kwasaki]

1 hour ago, Eric Loh said:

I got one. Petrol from the pumps will be cheaper. 

And exchange rate will counteract that in some way.

Doesn't Thailand puts their own ethanol in processing oil into petrol. ?  

[Leaver]

On 1/20/2021 at 10:15 AM, Kwasaki said:

And exchange rate will counteract that in some way.

 

The average Thai isn't concerned about the exchange rate, because they are mot exchanging.  

[Salerno]

On 1/19/2021 at 9:54 PM, digger70 said:

So what's happening the Aus $ going up or the THB going Down.

 

The US$ going down.

[digger70]

8 hours ago, Salerno said:

 

The US$ going down.

I don't go by the US $        I get Paid in AUS $ -  And  Euro

Edited January 22, 2021 by digger70

[Salerno]

55 minutes ago, digger70 said:

I don't go by the US $        I get Paid in AUS $ -  And  Euro

The US$ is the dominant reserve currency. Generally:

• AU$ up against US$ = AU$ up against THB
• Euro up against US$ = Euro up against THB (although the Euro also being a reserve currency, not as linear a connection as people may pull out of the US$ and go into Euros)

Edited January 23, 2021 by Salerno

[digger70]

4 hours ago, Salerno said:

The US$ is the dominant reserve currency. Generally:

• AU$ up against US$ = AU$ up against THB
• Euro up against US$ = Euro up against THB (although the Euro also being a reserve currency, not as linear a connection as people may pull out of the US$ and go into Euros)

Thanks for the information .

Dominant or Not,I Don't Use Or Go by US $.