Photo courtesy of Thai PBS

The US Treasury announced enhanced scrutiny of countries' foreign exchange practices, focusing on their interventions against both depreciation and appreciation relative to the dollar. The latest semi-annual report indicated no major trading partner was labeled a currency manipulator, but Thailand was added to a "monitoring list" alongside China, Japan, and eight other countries. This move aims to track countries with significant trade surpluses and assess their currency management practices.

The Treasury's decision comes amidst growing concerns about unfair currency practices impacting trade balances. Traditionally, the report has monitored one-sided interventions resisting dollar appreciation, keeping exports competitively priced. With Thailand's rising current account surplus and trade surplus with the US, the country was flagged for closer observation. The criteria typically include a sizeable trade surplus with the US, a major current account surplus, and persistent foreign exchange buying.

Treasury officials clarified that the recent policy shift was not targeted at specific countries, including Japan, despite the yen's recent weakness. However, the change will help analyze interventions that counteract both depreciation and appreciation pressures. Japan's efforts to stabilize the yen have been noted, and a US Treasury official mentioned that these updates are not intended to single out any one country ahead of the November report covering the latter half of 2025.

The Treasury indicated it would inspect various policies that might affect foreign exchange, such as capital controls and macroprudential measures. They will also review the use of exchange rate swaps and net forward positions among countries on the monitoring list. China was not designated as a currency manipulator despite depreciation concerns but was cited for lack of transparency in its exchange practices, maintaining language from the previous June 2025 report.

Looking forward, experts anticipate ongoing evaluations of how countries manage their foreign exchange against a backdrop of dollar fluctuations. The next report in November will continue to monitor practices, with the Treasury pledging to adapt its analyses to changing conditions, reported The Thaiger.

Key Takeaways

• The US Treasury added Thailand to its watchlist due to its trade surpluses.

• No countries were named as currency manipulators, avoiding trade tensions with China.

• Future analyses will focus on both appreciation and depreciation interventions.

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Adapted by ASEAN Now from The Thaiger 2026-01-30

 

 

The Thai Baht has always been suspiciously robust.

No currency manipulators... but suddenly the THB weakened with more than 1 THB in a few days time....How is that possible?? Thailand thinks they are the best of the world, but they have no idea that the outside world is looking differently to Thailand.. But is not told to the netizens.. Critics and comments are not done

What a surprise! Thailand is crowded with aging men on the brink of death single men in the final stage of their lives who come here hunting for “love” in the final moments of their existence. The Thai government, fully aware of this reality, keeps the baht artificially strong for as long as possible, just long enough to make sure every last cent of profit is siphoned neatly into the national coffers.

The real exchange rate would be around 45 THB to get over the counter on handing over 1 €uro.

But they are keeping the THB strong maybe to please the elites who are stashing out their money from Thailand to foreign banks.

It's also a good time so sell your property due to the strong THB and then move to a more foreigner friendly nation with less visa hassles ?

I have said this before many times, someoe is benefitting from a strong baht, it is seriouly hurting the economy but it seems they don't give a sh#t, the baht is being manipulated fot sure but by who ?

last time this happend was 2003 when they were exposed, lying

7 hours ago, SingAPorn said:

The real exchange rate would be around 45 THB

correct or even higher

the BOT is complisite

4 hours ago, smedly said:

I have said this before many times, someoe is benefitting from a strong baht, it is seriouly hurting the economy but it seems they don't give a sh#t, the baht is being manipulated fot sure but by who ?

last time this happend was 2003 when they were exposed, lying

Powerful people who are being given cash in THB and then transferring it overseas to foreign currency accounts may not be keen for the Baht to float freely to its true value.

12 hours ago, Jone500 said:

What a surprise! Thailand is crowded with aging men on the brink of death single men in the final stage of their lives who come here hunting for “love” in the final moments of their existence. The Thai government, fully aware of this reality, keeps the baht artificially strong for as long as possible, just long enough to make sure every last cent of profit is siphoned neatly into the national coffers.

I very much doubt that elderly westerners hanging out with and spending their pensions on bar girls are a major factor in the "management " of the Thai currency. The overseas property market, well...

40 minutes ago, Kinnock said:

Powerful people who are being given cash in THB and then transferring it overseas to foreign currency accounts may not be keen for the Baht to float freely to its true value.

It's a good thing they have a stranglehold on Thai political leaders, they have nothing to fear.

I thought all foreign currencies are manipulated, using interest rates and issuing new banknotes.

4 minutes ago, Purdey said:

I thought all foreign currencies are manipulated, using interest rates and issuing new banknotes.

The amount of worthless toilet paper currency being printed back home in the USA right now should be criminal.

5 hours ago, smedly said:

correct or even higher

the BOT is complisite

How much? 50? 60? 100? The "real" exchange rate is what the market says at the end of the day. Now, whether some posters here have a fantasy about a mythical rate much higher than that doesn't change the actual fact that the rate is what it is

9 minutes ago, SABloke said:

How much? 50? 60? 100? The "real" exchange rate is what the market says at the end of the day. Now, whether some posters here have a fantasy about a mythical rate much higher than that doesn't change the actual fact that the rate is what it is

My mythical price is 38THB to USD.

16 hours ago, ikke1959 said:

but suddenly the THB weakened with more than 1 THB in a few days time....How is that possible??

You must have a different Thai baht than everyone else.

And the reason that the baht weakened in previous days is because USD got stronger against all major currencies and gold tanked

1 hour ago, JAG said:

I very much doubt that elderly westerners hanging out with and spending their pensions on bar girls are a major factor in the "management " of the Thai currency. The overseas property market, well...

Thanks for taking the time to comment on the quoted nonsense.

I thought it isn't worth.

1 hour ago, CallumWK said:

You must have a different Thai baht than everyone else.

And the reason that the baht weakened in previous days is because USD got stronger against all major currencies and gold tanked

from 30.8 to 3158... is almost 1 THB.... weakened....

Just now, ikke1959 said:

from 30.8 to 3158... is almost 1 THB.... weakened....

Oh I thought you said.........well no, you previously actually said

18 hours ago, ikke1959 said:

but suddenly the THB weakened with more than 1 THB in a few days time.

And I explained the reason why it isn't suspicious that the baht weakened LESS than 1 baht