Thailand Has Never Used Exchange Rate to Gain Unfair Trade Advantage

[webfact]

 

By Paphamon Arayasukawat

   

BANGKOK (NNT) - The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.

 

BoT assistant governor Chantavarn Sucharitakul said the central bank is committed to exchange-rate flexibility, with interventions limited only to curbing excessive volatility and rapid movements of the baht on both sides.

 

She said Thailand remains on the US currency manipulation list that require monitoring for two consecutive periods, but no impact on business flows and activities between the private sector engaging in bilateral trade and investment with the US.

 

The BoT statement said more importantly, the assessment does not impede the ability of the BoT to fulfill its mandate on implementing macroeconomic policies to safeguard domestic stability, and it would closely monitor developments of trade and current account balance.

 

-- © Copyright NNT 2021-04-18

 

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[Nong Khai Man]

555 !!!! LIARS.......

[John Drake]

15 minutes ago, webfact said:

Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.

 

They don't. They use tariffs instead.

[rabas]

If that is not a quintessential government statement, nothing is.

 

"We are on the bad guy list because we have been good. "

 

 

 

[PatOngo]

18 minutes ago, webfact said:

Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.

Ah, what about personal advantage???

[ThailandRyan]

Someone's telling porkies and was caught with their fingers in the cookie jar it appears.  When anyone in Government denies anything you know it is truly the opposite

[DaLa]

So?, Where is the unfair trade advantage? As one example at 43 baht to the £ imported goods are 13% dearer (plus additional import duty) than goods imported at 38 baht to the £. Exported goods will be cheaper for the recipients by the same amount.

 

I import; all I have done is decrease my prices for the last few years. I will now increase them accordingly.

 

Now, if we are talking about financial transactions made to take benefit of currency movements, then...

[RichardColeman]

The fact that Thailand's currency was very low against every currency on the planet in 2015 and now is still up say against 99% of the planet's currency stinks to me.  

In 2015 the baht gained in value 25% ish - and boom foreign reserves nearly double. The high baht has benefitted Thailand, course they don't want it lowered. I am not surprised it is being watched.

[ParkerN]

TL would never stoop to manipulating currency to gain a trade advantage.

 

Obviously

 

Which is why they're on the USA watch list and have been for some time.

 

And why they were on the USA IPR watch list (and may still be).

 

Because they are honest as the day is long and would not dream of taking advantage.

 

Right, Got that.

 

All is clear.

[ParkerN]

Just now, RichardColeman said:

The fact that Thailand's currency was very low against every currency on the planet in 2015 and now is still up say against 99% of the planet's currency stinks to me.  

In 2015 the baht gained in value 25% ish - and boom foreign reserves nearly double. The high baht has benefitted Thailand, course they don't want it lowered. I am not surprised it is being watched.

 

in 20 years, we will all look back in astonishment at how crooked and venal Thailand has always been, and in how many different ways Thais have betrayed the trust of those foolish enough to place their trust in them.

 

Some of us will not be surprised about it.

 

Still, there are always those who know better and are less cynical; more trusting in the essential goodness of primitive peoples and good Buddhists. Less convinced that the Thai really does think of himself/herself as being superior and more privileged, and for whom compliance with law and principle is optional. There will be those others who are unbelieving of these traits being a cultural issue.

 

 

 

 

Edited April 18, 2021 by ParkerN

[connda]

Thailand Has Never Used Exchange Rate to Gain Unfair Trade Advantage

Of course not.  Because if the US finds out they have - Thailand will be hammered with sanctions.
Honestly, what did you expect a government spokes-person to say? "Of course we manipulate the FX exchange!"  ????

[connda]

2 hours ago, ThailandRyan said:

Someone's telling porkies and was caught with their fingers in the cookie jar it appears.  When anyone in Government denies anything you know it is truly the opposite

‘All governments suffer a recurring problem: Power attracts pathological personalities.’  - Frank Herbert

And lying tops the list of "pathological" traits of those who strive to ascend to lofty reaches of ratified air where the elite few enjoy placing the feet on the necks of the commoners and plebeians while extracting the wealth of the nations for themselves and their wealthy, connected friends.
Lying is as habitual as eating for these pathological personalities who strive for evermore power over the masses.

 

Edited April 18, 2021 by connda

[chilly07]

No because  that would reduce the foreign investment  funds of seriously  rich thais. They must worry constantly  about their Thailand holdings against monies they have already spirited abroad.  Now their must be an algorithm  for this? 

[hotchilli]

4 hours ago, webfact said:

and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.

But it does use the luxury tax to price imported goods out of the market.

[seajae]

strange how it kept going up when the country was being decimated financially, again we the BS coming from those at the top, now that it is getting back to where it should be you have to wonder if they will make it surge again

 

[Nanaplaza666]

2 hours ago, connda said:

‘All governments suffer a recurring problem: Power attracts pathological personalities.’  - Frank Herbert

And lying tops the list of "pathological" traits of those who strive to ascend to lofty reaches of ratified air where the elite few enjoy placing the feet on the necks of the commoners and plebeians while extracting the wealth of the nations for themselves and their wealthy, connected friends.
Lying is as habitual as eating for these pathological personalities who strive for evermore power over the masses.

 

Wow , that's deep ???? but treu .

[MasterBaker]

"curb volatility in the baht" that's it currency manipulation

[ParkerN]

Just now, MasterBaker said:

"curb volatility in the baht" that's it currency manipulation

 

Correct. The 2nd biggest lie in the world discovered.

[Brierley]

3 hours ago, RichardColeman said:

The fact that Thailand's currency was very low against every currency on the planet in 2015 and now is still up say against 99% of the planet's currency stinks to me.  

In 2015 the baht gained in value 25% ish - and boom foreign reserves nearly double. The high baht has benefitted Thailand, course they don't want it lowered. I am not surprised it is being watched.

You have it back to front.....the foreign currency reserves have benefited Thailand and have increased the value of the Baht, this is all about the trade surplus and the comparatively low value of imports. Put another way, the high value of the Baht is a bi-product of the trade surplus which generates high volume foreign currency reserves.

[metisdead]

Some posts with trolling comments on moderation have been removed. 

[tomazbodner]

Well, if they didn't, you'd get 25 baht for your pound. I guess those relying on foreign income/pensions would enjoy Thailand's end to currency manipulation.

[Oww]

6 hours ago, DaLa said:

So?, Where is the unfair trade advantage? As one example at 43 baht to the £ imported goods are 13% dearer (plus additional import duty) than goods imported at 38 baht to the £. Exported goods will be cheaper for the recipients by the same amount.

 

I import; all I have done is decrease my prices for the last few years. I will now increase them accordingly.

 

Now, if we are talking about financial transactions made to take benefit of currency movements, then...

So do some unnamed supermarkets in Thailand. We all know which ones. Their prices have done nothing but go up past 5 years! 

[Elkski]

Let's see what effect round 3 of covid has.  So far it hasn't had the effect deserving. 

[mfd101]

I'm not sure what Thailand is accused of, or at least what some commentators here think it is accused of.

 

Normally when one country accuses another of 'currency manipulation' it means that the accused country has been artificially keeping the value of its currency DOWN, to increase its exports and decrease its imports (including from the accuser country). Yet most people here on TV think that Thailand deliberately keeps its currency too HIGH. Which, if true, would have the opposite effect: increase imports and decrease exports. In which case why would the Yanks be complaining?

[daveAustin]

1 hour ago, tomazbodner said:

Well, if they didn't, you'd get 25 baht for your pound. I guess those relying on foreign income/pensions would enjoy Thailand's end to currency manipulation.

Lol 75 you mean. 

[tomazbodner]

1 hour ago, daveAustin said:

Lol 75 you mean. 

I'd like to see that for many who are on this forum and depend on foreign income. However - had Thailand done that, your government would be screaming that Thailand is a currency speculator. Which it is already doing now, at 30 or so per dollar. What does US government want? 1$ = 1 THB?

[fondue zoo]

6 hours ago, mfd101 said:

I'm not sure what Thailand is accused of, or at least what some commentators here think it is accused of.

 

Normally when one country accuses another of 'currency manipulation' it means that the accused country has been artificially keeping the value of its currency DOWN, to increase its exports and decrease its imports (including from the accuser country). Yet most people here on TV think that Thailand deliberately keeps its currency too HIGH. Which, if true, would have the opposite effect: increase imports and decrease exports. In which case why would the Yanks be complaining?

 

Which currency criteria is America applying to keep them on the watch list?

[Brierley]

3 hours ago, fondue zoo said:

 

Which currency criteria is America applying to keep them on the watch list?

 

The three possible criteria are:

 

- A current account surplus equal to at least 2% of GDP

- A bilateral trade surplus of at least USD 20 bill.

- FOREX interventions amounting to at least 2% of GDP

 

Bothe current account surplus and the trade surplus would qualify them for inclusion on the watch list, albeit the current account has been in deficit for the past four months. This is a trade issue, not a foreign exchange issue.https://tradingeconomics.com/thailand/balance-of-trade

 

Edited April 18, 2021 by Brierley

[Poet]

11 hours ago, tomazbodner said:

What does US government want? 1$ = 1 THB?

That would make the cost of American women somewhat more competitive with Thai women.

[metisdead]

A post using an animated trolling meme has been removed.