.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
-
Recently Browsing 0 members
- No registered users viewing this page.
Announcements
-
Topics
-
-
Latest posts...
-
1
Thai Baht Exchange Rate So Low How Are You Dealing With It?
When one uses the 65k+ per month retirement extension of stay protocol, that's what one has to transfer in every month regardless of the favorable/not favorable exchange rate. -
26
Teamsters’ Neutral Stance: A Blow to Harris and a Challenge for Trump
Indeed. The implication is that there is some reason not to endorse Harris. I can think of many. -
1
Baht's biggest surge since 1998 poses risk to tourism and Exports
Baht-boom: Thailand’s currency surge leaves tourism, exports short by Bob Scott Picture courtesy of Nikkei Asia Thailand’s baht is rocketing towards its biggest quarterly rise since the Asian financial crisis, a development that has key tourism and export industries clutching their pearls. Since the end of June, the baht has surged 10% against the dollar, its most significant gain since early 1998. This sudden leap has prompted frantic appeals from the tourism, hotel sectors, and business chambers for measures to cool down the rally. Commerce Minister Pichai Naripthaphan and Deputy Finance Minister Paopoom Rojanasakul implored the Bank of Thailand (BoT) to step in and manage the baht’s runaway ascent. Driven by a slump in the US dollar ahead of the Federal Reserve’s recent rate cut, the baht’s meteoric rise has far outstripped those of Thailand’s trade partners. The Federation of Thai Industries (FTI) warns that this disparity may push international buyers to seek cheaper alternatives. Meanwhile, despite robust foreign tourist numbers, the Tourism Council of Thailand fears that the strong baht will soon squeeze spending on shopping and hotels. This currency conundrum is the latest headache for new Prime Minister Paetongtarn Shinawatra, who vowed to stimulate Thailand’s economy and ease the cost of living. While the country’s GDP growth lags behind neighbours like Indonesia and the Philippines, the tourism and export sectors have been rare bright spots. Chinese imports Exports, which constitute nearly 60% of Thailand’s GDP, face fresh hurdles. The baht’s sharp appreciation is exacerbating existing woes—from high production costs to an influx of cheap Chinese imports, bemoans FTI Chairman Kriengkrai Thiennukul. “The rapid baht gains are crippling exporters. They’re at their wits’ end and struggling to stay afloat. We need a stable baht and relief from high financing costs.” Paopoom added yesterday, September 19, that the currency’s wild swings make it tough for exporters to plan. It’s crucial, he argued, to ensure the baht isn’t “too weak, too strong, or too volatile.” Responding to the soaring volatility, BoT Governor Sethaput Suthiwartnarueput pledged today that the central bank is keeping a close eye on the baht, aiming to prevent extreme swings in exchange rates. The baht’s 3-month implied volatility against the dollar sits at a whopping 9.12%, its highest since January, well above this year’s average of 7.98%, according to Bloomberg data. Foreign funds have poured $2.6 billion into Thai bonds and stocks this quarter, boosting both the currency and the main equities index. The baht’s rally will likely be a hot topic at the BoT rate-setting meeting on October 16, as explained by Nattaporn Triratanasirikul, an economist at Kasikorn Research Centre. Monetary policy Australia & New Zealand Banking Group economist Krystal Tan added that concerns over asset quality, an uneven economic recovery, and scaled-down government aid may increase the chances of monetary policy easing soon. While the baht’s rise hasn’t heavily impacted travellers yet, it could deter foreign tourists from big spending sprees, noted Surawat Akaraworamat, Vice-President of the Tourism Council of Thailand. Suksit Suvunditkul, president of the southern chapter of the Thai Hotels Association, warned that a persistently strong baht could eventually decrease tourist arrivals due to higher costs, reported Bangkok Post. For now, Thailand is on track to meet its target of welcoming 36.7 million tourists this year and generating 2 trillion baht in revenue. Arrivals have already hit nearly 25 million, a 31% jump from last year. But as the baht continues its wild ride, industry leaders are bracing for the stormy seas ahead. Source: The Thaiger -- 2024-09-21 -
0
School Bus Overturns in Sisaket, 20 Students Injured
Picture from responders Emergency services in Sisaket were alerted at 07.30 on September 20, to an incident involving a school bus that overturned on the road between Ban Phon Yang and Ban Nong Phai in Phon Yang Subdistrict, Wang Hin District. The accident left 20 students injured. Rescue teams quickly arrived at the scene, where they found a yellow six-wheeled school bus, license plate Sisaket, overturned on the roadside. The injured students from Wat Luang Wittaya School, included both novice monks and regular students. Emergency personnel administered first aid at the scene before transferring the injured to Wang Hin Hospital for further treatment. The bus driver, Mr. Chaiwat Khumkham, 50, explained that he had been picking up students from villages along the route to take them to school in downtown Sisaket. The road between Ban Phon Yang and Ban Nong Phai is narrow and difficult to navigate, especially when passing other vehicles. As the bus approached a curve, another vehicle came from the opposite direction. In an attempt to avoid a collision, Mr. Chaiwat steered sharply to the left, causing the rear wheels to slip off the road due to the lack of a shoulder. The bus then lost control and overturned, resulting in multiple injuries among the students. The bus was reportedly carrying over 60 students at the time of the accident. Some parents, upon hearing the news, rushed to the scene to take their children home, deciding not to send them to school for the rest of the day due to the trauma. The investigation of the incident is ongoing. -- 2024-09-21 -
1
Taylor Swift Shines in Poll, Surpassing Expectations Against Trump and Harris
Is the fix in for 2028? While she is a pretty singer of pretty songs, does she have any political experience, does she have any international experience? The US could do worse than Swift as POTUS. If Harris can be, Swift should be a shoo in. -
3
THAILAND LIVE Thailand Live Saturday 21 September 2024
School Bus Overturns in Sisaket, 20 Students Injured Emergency services in Sisaket were alerted to an incident involving a school bus that overturned on the road between Ban Phon Yang and Ban Nong Phai in Phon Yang Subdistrict, Wang Hin District. The accident left 20 students injured. Full story : https://aseannow.com/topic/1338717-school-bus-overturns-in-sisaket-20-students-injured/ -
25
iPhone 16 Launch Draws Large Crowds in Thailand
Coolaid drinking status seekers. Probably all want an electric car. Those phones are a big rip off in my opinion. Never understood the hype. -
1
Thai Baht Exchange Rate So Low How Are You Dealing With It?
With the Thai baht the lowest exchange rate in over a year. I am curious how other expats are dealing with their monthly budgets. In my case had planned to buy a motorbike. Anything below 30 baht to the USD dollar everything outside survival comes to a stop. 33 to 34 baht to the dollar I can deal with that. -
1
Harris-Walz Campaign Opts for Media Silence as Election Nears
Obviously decided that having Harris in the public eye is not an advantage- a wise decision. Also, when one has nothing to say, the cover is to say that one is reducing media interaction for xyz reasons. -
25
Former Air Force Central FC Player Dies in Horrific Benz Crash
That'll buff right out. -
82
Does Donald Trump Have Dementia?
English is hard. There was no viewing audience in the studio where the debate took place. There were millions of people viewing via tv etc. No live audience present. -
116
Kamala Harris Expresses Openness to Exploring Reparations for Slavery
IMO she is an empty vessel with nothing to offer. IMO she is only getting support because she is neither Biden nor Trump. -
251
What’s the best area in Thailand for expats to settle for long-term living?
Obviously we do not know what the OP likes. For me, I am not a beach or big city person. First trip to Thailand i went straight to Udon Thani after researching it extensively online (yes, i was conversing with a girl there). Never met the girl, but was pleasantly surprised and felt at home straight away (2008). moved there in 2010, married now with daughter. Plus factors - low cost of living especially accommodation. Very little 'Farang pricing'. Reasonable levels of English spoken Quite a few retired expats, so some shops and bars serve this community. Airport only 20 minutes away (for me, as on other side of town). most of city is less than 15 minutes away by car City small enough you can actually walk everywhere if you have to. Good weather in cool season. Few tourists Quite a few women in their 30s and 40s looking for a partner Air quality rarely bad. Good road system. Reasonable hospitals. Negative factors - Hot season is hot! Wet season is humid and still quite hot Not a beautiful city, just OK Not a city for the younger expat. -
251
What’s the best area in Thailand for expats to settle for long-term living?
where will you meet jesus? you tell your wife you're flying to pattaya just to meet up with "the boys" and she believes you? -
37
Thailand to borrow 2.59 trillion baht for 2025 budget
Borrowing can be OK or even good, if it's for the right reason and the existing levels of debt are not too high. Borrowing to undertake major infrastructure build outs such as airports, hospitals and roads, allows expensive projects to be done earlier, all of which benefit the economy and the population more quickly. Borrowing to fund unexpected and unbudgeted costs such as covid for example, allows subsequent budgets to proceed along "normal" lines rather than having to be cut to pay for something that has already happened, that had no benefit to the economy. Servicing the debt each year is a tricky balancing act, the problem is that excessive debt becomes difficult to service and only leads to new debt, unless the country is disciplined and is able to avoid becoming addicted. Thailand learned its lesson from the 1997 crash, thereafter its debt load was small to non-existent and every year the same level of budget was put forward, for several years the debt level was reduced to low levels. But it's difficult to build roads, airports etc using revenue income alone, especially when not many people pay tax and those taxes don't increase. If you look at the graph below you'll see the country's debt to GDP ratio over the years and you'll see how covid has affected things. If you dig in to each years debt, you'll see that most of it resulted from subsidies to the poor and for agriculture, in other words, government giveaways in order to stay in power. https://tradingeconomics.com/thailand/government-debt-to-gdp
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now