BoT: No special measures despite baht depreciation

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BoT: No special measures despite baht depreciation
By Digital Content



BANGKOK, Dec 16 -- Bank of Thailand (BoT) Governor Prasarn Trairatvorakul, said today that the central bank would not issue any special measures for the time being although the baht rate has fallen close to Bt33 per one US dollar.

Mr Prasarn said he was not worried because capital outflows remained normal, the baht has moved in tandem with other currencies in the region and its fluctuation is moderate.

He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.

The central bank chief expects only an indirect impact, that is a decline in the arrivals of Russian tourists in Thailand.

The baht value opened at Bt32.95-32.96 per US dollar compared with its close at Bt32.97-32.99 per dollar yesterday afternoon.

Concerned parties are monitoring the Stock Exchange of Thailand and waiting for a resolution of the Monetary Policy Committee meeting tomorrow.

Mr Prasarn also said that the plunging oil price would have short-term impacts including investors selling energy and petrochemical stocks.

He viewed the Thai economy as benefiting in the medium term because the oil price decline will help the oil-importing country cut its production costs. (MCOT online news)


-- TNA 2014-12-16

[JOC]

>>He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.<< quote

And the relevance to the depreciation of the Thai baht??

Sometimes I wonder, if the "statements" have to contain a certain number of words?? And the blanks are filled in with whatever garbage, that pops up in the "experts" head ??

[scubascuba3]

I'd say the statement below is pretty pointless, maybe movement for a year or year to date would add something.

"The baht value opened at Bt32.95-32.96 per US dollar compared with its close at Bt32.97-32.99 per dollar yesterday afternoon"

[Bakseeda]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

[Fiddlesticks]

BoT: No special measures despite baht depreciation

I have a message:

WHOPPEEEEE!

[elgordo38]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

I feel the baht is moving in tandem with the US dollar as our Canadian dollar is taking a s*********g against both baht and the greenback.

[worgeordie]

Its a great mystery to me why the Bhat is so strong,could be that

interest rates here are better than in the West,is there more too

it than that ? talking against Sterling now.

regards Worgeordie

[kalbo123]

Its a great mystery to me why the Bhat is so strong,could be that

interest rates here are better than in the West,is there more too

it than that ? talking against Sterling now.

regards Worgeordie

BOT has a lot of US dollars, that way they control too much fluctuation, in the Baht.

[jpeg]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

94 when I was first here. Ah well.

[chiang mai]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

94 when I was first here. Ah well.

Against the Zimbabwean Dollar maybe but against the Pound, not!

[JingerBen]

"The central bank chief expects only an indirect impact, that is a decline in the arrivals of Russian tourists in Thailand."

That's the silver-lining to this dark cloud.

[Thai at Heart]

Its a great mystery to me why the Bhat is so strong,could be that

interest rates here are better than in the West,is there more too

it than that ? talking against Sterling now.

regards Worgeordie

So strong? A couple of years ago it was 29....

[emilymat]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

or 90,as I was getting in 1997 ish!

[angiolo]

I the last two days the GBP has risen,please dont stop

[GOLDBUGGY]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

>>He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.<< quote

And the relevance to the depreciation of the Thai baht??

Sometimes I wonder, if the "statements" have to contain a certain number of words?? And the blanks are filled in with whatever garbage, that pops up in the "experts" head ??

It does make you wonder where that came from doesn't it?

I guess Russian Tourism is more important here then I thought.

[gchurch259]

Want to help Tourism, set the THB at 40 to 1 USD and leave it there !!

[thailiketoo]

Want to help Tourism, set the THB at 40 to 1 USD and leave it there !!

How would you set it there?

[Gunna]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

or 90,as I was getting in 1997 ish!

You must have had a good money changer

vs. Thailand Baht (THB) 1997.01.01 1997.05.26 1997.10.19 1998.03.14 1998.08.07 1998.12.31

United Kingdom Pounds (GBP) 43.9205 41.9527 60.4630 67.2983 68.4994 60.6922

[SheungWan]

Would be just G-R-E-A-T to get 75bahts to the pound sterling again... Dream on. right ?

94 when I was first here. Ah well.

Against the Zimbabwean Dollar maybe but against the Pound, not!

GBPTHB touched over 90 in January 1998.

[noitom]

Thailand has a wake up call coming when they start reading the Russian news. The ruble is about to collapse and Putin must make a big move. Regardless of his move, Russians will be needing bigger bags to carry their rubles around as it will decline in value. Thais would be well served to lure and pursue "quality" tourists from other countries rather than Russians.

[chickenrunCM]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

>>He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.<< quote

And the relevance to the depreciation of the Thai baht??

Sometimes I wonder, if the "statements" have to contain a certain number of words?? And the blanks are filled in with whatever garbage, that pops up in the "experts" head ??

It does make you wonder where that came from doesn't it?

I guess Russian Tourism is more important here then I thought.

for sure

without the russians you can shut down pattaya, phuket, Koh Chang and most of the island in Thailand,

ghost town would be pattaya and Jomtien, 50% of hotel bookings and condo sells/rents are done by the russians

[BSJ]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

>>He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.<< quote

And the relevance to the depreciation of the Thai baht??

Sometimes I wonder, if the "statements" have to contain a certain number of words?? And the blanks are filled in with whatever garbage, that pops up in the "experts" head ??

It does make you wonder where that came from doesn't it?

I guess Russian Tourism is more important here then I thought.

for sure

without the russians you can shut down pattaya, phuket, Koh Chang and most of the island in Thailand,

ghost town would be pattaya and Jomtien, 50% of hotel bookings and condo sells/rents are done by the russians

If that happens we may see a few bargains in the Pattaya property market.