Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[webfact]

BOT Assistant Governor: Bank ready to intervene baht value

BANGKOK (NNT) -- The Bank of Thailand (BOT) will control the value of the baht in an appropriate manner whenever necessary, according to BOT Assistant Governor Paiboon Kittisrikangwan.

Mr Paiboon revealed today that the central bank will closely monitor the volatility of the baht value to prevent it from affecting the private sector. He quoted BOT governor Dr Tarisa Watanagase as saying that the bank was duty-bound to control the fluctuation of the baht in order to avoid any hindrance to exports.

The future direction of the baht was deemed as unpreditable, while the bank had no policy to maintain the baht's value, said the BoT assistant governor, adding that the current appreciation of the Thai currency against the greenback has impacted on the export sector as clearly noticed from the increasing export value.

-- NNT 2010-03-23

[newsfooter][/newsfooter]

[gotlost]

BOT is killing the expat.

[thaihome]

BOT is killing the expat.

I believe it is market forces, not the BOT that is driving the baht up.

TH

[Naam]

"...adding that the current appreciation of the Thai currency against the greenback has impacted on the export sector as clearly noticed from the increasing export value"

can a journalist be more journàsslistic than the one who wrote this line?

[Pib]

Partial Quote:

"...while the bank had no policy to maintain the baht's value..."

End Quote.

Summary: The BOT is just watching, speaking bureaucratic talk, and won't do anything major until the "sh&t hits the fan."

[Thaihog]

Partial Quote:

"...while the bank had no policy to maintain the baht's value..."

End Quote.

Summary: The BOT is just watching, speaking bureaucratic talk, and won't do anything major until the "sh&t hits the fan."

It would be nice if the 'shit hit the fan' the same as back in 1997

[Naam]

Partial Quote:

"...while the bank had no policy to maintain the baht's value..."

End Quote.

Summary: The BOT is just watching, speaking bureaucratic talk, and won't do anything major until the "sh&t hits the fan."

yada... yada... yada... take a look at the reserves and you will find that the BoT has been for more than a year very active selling Baht for Dollars to prevent an even stronger Baht. i admit that their talk is cheap but blaming them for not acting is wrong.

[neil324]

Partial Quote:

"...while the bank had no policy to maintain the baht's value..."

End Quote.

Summary: The BOT is just watching, speaking bureaucratic talk, and won't do anything major until the "sh&t hits the fan."

It would be nice if the 'shit hit the fan' the same as back in 1997

I think it is, but the boot is on the other foot now

[sokal]

They will do very little or nothing at all. Central banker talk is cheap.

[pkrv]

Perhaps we should go for a global currency? Everyone uses USD and spend them in the same way as the US. Ohh everyone would then be in the same boat - For me the US is a major concern. This USD reserve currency status is horribly, horribly wrong. It is causing massive distortions. Hence the above, also applied to many countries.

Edited March 24, 2010 by pkrv

[Naam]

They will do very little or nothing at all. Central banker talk is cheap.

like yours!

[jombom]

''The Bank of Thailand (BOT) will control the value of the baht '' is on line 1

''central bank will closely monitor the volatility of the baht '' is on line 3

''bank was duty-bound to control the fluctuation of the baht '' is on line 4

''bank had no policy to maintain the baht's value '' is on line

5

So first, we will control, followed by monitoring, followed by duty to control, and finish off with no policy on the matter.

Beam me up Scottie.

Is there anywhere teaching Double Dutch at the moment ?

[Pib]

It's all just bureaucratic government talk in an attempt to placate (or confuse) concerned/interested parties.

[ray23]

Read today some major investors are leaving Vietnam, is that what we see going into the stock market? Supposedly driving the baht up in the process

[IMA_FARANG]

Read today some major investors are leaving Vietnam, is that what we see going into the stock market? Supposedly driving the baht up in the process

We've had two announcements in the last week or so that the Thai governement is intervening in the Baht rates to streghten the Baht against the Dollar and the Pound....and you still don't believe it? Why do you doubt it? Yes, I know it makes exports more expensive for the Thai exporters....but it also lowers the price of goods imported if denominated in Dollar/Pound/Euro value.(Much of the feedstock and resources used by Thai industry to fund their exports is imported)

But as I said before, major international banks are dealing in foriegn currency. Now it is possible for a bank to transfer 100 million dillars or the equivalent in a few keystrokes of the computer. If the rate in Japan is 0.01 Yen better than in New York the bank can transfer a block of 100 million dollars, purchase Yen in Japan, transfer it back to New York and sell the Yen in New York...just as one example. Yes you only get 0.01 Yen profit per dollar, but what's 0.01 times 100 million? Enough to make it worthwhile, if all it takes is a few computer keypresses.

And, THAT is what is destablisies the international financial markets and currency rates. Speculation...and no taxes to control such speculation. Its all pure profit...buy another Lexus with your bonus payment.

Capitalisim is rapidly killing itself in it's own excretement...and nobody at the top cares. hel_l they're making money, I call it the "tinkle down" theory. No, not trickle down, tinkle down. Tinkle down, because I got mine and p*ss on you down there.

Edited March 26, 2010 by IMA_FARANG

[torrenova]

Read today some major investors are leaving Vietnam, is that what we see going into the stock market? Supposedly driving the baht up in the process

We've had two announcements in the last week or so that the Thai governement is intervening in the Baht rates to streghten the Baht against the Dollar and the Pound....and you still don't believe it? Why do you doubt it? Yes, I know it makes exports more expensive for the Thai exporters....but it also lowers the price of goods imported if denominated in Dollar/Pound/Euro value.(Much of the feedstock and resources used by Thai industry to fund their exports is imported)

But as I said before, major international banks are dealing in foriegn currency. Now it is possible for a bank to transfer 100 million dillars or the equivalent in a few keystrokes of the computer. If the rate in Japan is 0.01 Yen better than in New York the bank can transfer a block of 100 million dollars, purchase Yen in Japan, transfer it back to New York and sell the Yen in New York...just as one example. Yes you only get 0.01 Yen profit per dollar, but what's 0.01 times 100 million? Enough to make it worthwhile, if all it takes is a few computer keypresses.

And, THAT is what is destablisies the international financial markets and currency rates. Speculation...and no taxes to control such speculation. Its all pure profit...buy another Lexus with your bonus payment.

Capitalisim is rapidly killing itself in it's own excretement...and nobody at the top cares. hel_l they're making money, I call it the "tinkle down" theory. No, not trickle down, tinkle down. Tinkle down, because I got mine and p*ss on you down there.

You conveniently overlook crossing spreads in your calculations on currency trading. If it really was as simple as you describe .............