webfact Posted February 9, 2015 Share Posted February 9, 2015 Strong dollar helps bring down Thailand's foreign debtThe NationBANGKOK: -- Thailand's foreign debt has eased thanks partly to the recent appreciation of US dollar against other major currencies, according to Bank of Thailand.At the end of 2014, the foreign debt in dollar term stood at US$140 billion, a decrease by $1.2 billion from the previous month.In recent months, the dollar has strengthened against major currencies like Japanese yen and the euro. After conversion to US dollar, loans denominated in non-dollar currencies are of lower value."The dollar appreciation reduced foreign debt by $500 million. The foreign debt also dropped by another $700 million in the month mostly by importers’ short-term trade payments," the central bank said.Of total, short-term loans, or those with maturity of less than a year, stood at 40.8 per cent.Of total, the outstanding foreign debt shouldered by the Thai public sector and the central bank was valued at $22.1 billion and $3.2 billion, respectively.In December, the central bank’s outstanding debt dropped by $100 million from the previous month, as foreign investors continued their net-sell of short-term bonds. In December, the net-sell continued for the fifth month.Source: http://www.nationmultimedia.com/business/Dollar-strength-helps-bring-down-Thailands-foreign-30253705.html-- The Nation 2015-02-09 Link to comment Share on other sites More sharing options...
rickirs Posted February 10, 2015 Share Posted February 10, 2015 A strong USD should boost Thailand exports to the US ..... But a strong Junta promoting anti-American rhetoric and anti-democratic agenda will likely stand in the way of more trade, maybe even lose trade. Meanwhile as Thailand increases exports to China, the yuan has lost about 3.5% against the USD in the last 12 months. Great timing Junta. Link to comment Share on other sites More sharing options...
iphad Posted February 10, 2015 Share Posted February 10, 2015 (edited) A strong USD should boost Thailand exports to the US ..... But a strong Junta promoting anti-American rhetoric and anti-democratic agenda will likely stand in the way of more trade, maybe even lose trade. Meanwhile as Thailand increases exports to China, the yuan has lost about 3.5% against the USD in the last 12 months. Great timing Junta. The Yuan is pegged to the US dollar...so the Yuan has remained strong in currency exchange...but the real indicator ( as opposed to the financial experts in the western press portray China's economy as hurting ) is China has recently reported a record trade surplus for January. "China's exports fell 3.3 percent in January from a year earlier, while imports slumped by 19.9 percent, both missing expectations by a wide margin, and resulting in a record monthly trade surplus of $60 billion." http://www.cnbc.com/id/102406905 God forbid..an economy has a trade surplus..and that's a bad thing? So the US has record trade deficit & the economy is good..but China has 60 billion $US in a monthly trade surplus & they are slumping. who cares if exports are reduced by 3.3 % if imports are reduced by 19.9 % & there is a record trade surplus. But if one believes that QE by printing money is good for economic growth then yeah I could see how one would think China is hurting as an economic super power. These financial experts in the western press are experts in financial manure. Edited February 10, 2015 by iphad Link to comment Share on other sites More sharing options...
Jonmarleesco Posted February 10, 2015 Share Posted February 10, 2015 '... After conversion to US dollar, loans denominated in non-dollar currencies are of lower value.' Wonderful, if they're sitting on USD. Not so helpful if repaying USD loans/interest in THB. That was one factor that led to the 1997 crisis. Link to comment Share on other sites More sharing options...
chiang mai Posted February 10, 2015 Share Posted February 10, 2015 '... After conversion to US dollar, loans denominated in non-dollar currencies are of lower value.' Wonderful, if they're sitting on USD. Not so helpful if repaying USD loans/interest in THB. That was one factor that led to the 1997 crisis. BOT is sitting on USD, lots of it! Link to comment Share on other sites More sharing options...
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