webfact Posted September 10, 2015 Share Posted September 10, 2015 BOT: Weakening baht to benefit exportsBANGKOK, 10 September 2015 (NNT) – The Bank of Thailand (BOT) has allayed concerns over the weakening baht, saying depreciation will benefit the export sector.BOT Spokesperson Jirathep Seniwong Na Ayutthaya explained that the baht's depreciation was caused by the stronger U.S. dollar, not domestic or regional economic factors. He added that fluctuations of the Thai currency are considered moderate compared to other currencies in the region.Mr. Jirathep said the central bank was of the opinion that the baht's inflation would enable exporters to lower product prices, thus boosting their competitiveness. However, the weakening baht would also make imports more expensive.Although the baht's depreciation can be helpful to exports, the BOT spokesperson said the sector is mainly influenced by the global economic recovery and operators’ ability to improve products according to market demand.The BOT’s Monetary Policy Committee will call a meeting to discuss the overall picture of the country’s economy on September 16.-- NNT 2015-09-10 Link to comment Share on other sites More sharing options...
NCC1701A Posted September 10, 2015 Share Posted September 10, 2015 As an American, I am proud to know the US dollar is to blame and not that big country up north called China who's smoke and mirrors stock market just CRASHED. Link to comment Share on other sites More sharing options...
mommysboy Posted September 10, 2015 Share Posted September 10, 2015 I'd question just how much it will benefit exports. Yes, on the face of it Thai goods become more affordable to people paying in US dollars, however Thailand's peer currencies have weakened as much and even more, so Thai goods are not as attractive as their competitors. And whilst the weakening against the dollar has been significant, 36 to the dollar is still by no means high. Still further, the baht has only weakened modestly against some other major currencies, 55 or so against the pound, and 40 or so against the Euro is hardly party time. Link to comment Share on other sites More sharing options...
onni4me Posted September 10, 2015 Share Posted September 10, 2015 not domestic or regional economic factors. The Baht is inert against anything regional or otherwise...just the bad old buck is bothering it's success and triumph. Especially regarding China... I would sell my Baht after reading this lip service. Link to comment Share on other sites More sharing options...
Nerone Posted September 10, 2015 Share Posted September 10, 2015 wow, what a genius... Link to comment Share on other sites More sharing options...
RubbaJohnny Posted September 10, 2015 Share Posted September 10, 2015 I am allayed it is wonderful such insights from skilled journalists ,lucky not just a curtain piste Link to comment Share on other sites More sharing options...
riclag Posted October 6, 2015 Share Posted October 6, 2015 Is it fair to say the 40 mark is obtainable in the near future? And why hasn't the Thai gold price depreciated as a result of the weakening baht? Your thoughts please Link to comment Share on other sites More sharing options...
Thai at Heart Posted October 6, 2015 Share Posted October 6, 2015 Is it fair to say the 40 mark is obtainable in the near future? And why hasn't the Thai gold price depreciated as a result of the weakening baht? Your thoughts please Because gold is imported? In baht it should be getting more expensive, but the USD price is falling so, I guess one cancels the other out? Link to comment Share on other sites More sharing options...
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