Thailand’s foreign reserves increase to 5.684 trillion baht on December 11

[snoop1130]

Thailands foreign reserves increase to 5.684 trillion baht on December 11

Thai PBS

THAILAND -- Thailands foreign reserves increased one billion US dollars or 36.3 billion baht to US$157.7 billion or 5.684 trillion baht as of December 11 compared to last weeks reserves of US$ 156.7 billion or 5.610 trillion baht, according to the Bank of Thailand.

The foreign reserves are based on the exchange rate of 36.19 baht per US dollar on Friday.

Forward, meanwhile, was registered at 11.2 billion US dollars, representing 600 million dollars drop compared to last weeks 11.8 billion dollars contributing to foreign reserves increase to 168.9 billion dollars today.

Currency analysts attributed to the increase of foreign reserves to the central banks purchase of US dollars in order to keep the value of the baht against US dollar at between 35.80-35.90 baht.

Cash in hands of the private sector and the bank deposits of financial institutes at the central bank amount to 1.593 trillion baht comparedto last weeks 1.638 trillion baht.

Source: http://englishnews.thaipbs.or.th/thailands-foreign-reserves-increase-to-5-684-trillion-baht-on-december-11

-- Thai PBS 2015-12-18

[clockman]

As there is no transparency in any sector. These are just numbers!

[carstenp]

I wonder why we need to know.

[Srikcir]

"Thailands foreign reserves increased one billion US dollars or 36.3 billion baht"

Rather than use hard capital to prop up the baht, the Bt36.3 billion might better be used to finance Thailand's transportation water management infrastructures. By borrowing foreign capital, Thailand is essentially negating its efforts to stabilize the baht.

[klauskunkel]

The question in some minds:

Now, how can we get our grubby little hands on that, drool, drool?

[elgordo38]

As there is no transparency in any sector. These are just numbers!

Like the rubbery numbers posted in Australia that they created 71,000 new jobs in November the highest in TWENTY-EIGHT YEARS in this economy whoa there. Just go back to 1997 and see what Thailand "claimed" to have in reserves and what they actually had when the schmidt hit the fan and what the IMF found on the books.

[carstenp]

As there is no transparency in any sector. These are just numbers!

Like the rubbery numbers posted in Australia that they created 71,000 new jobs in November the highest in TWENTY-EIGHT YEARS in this economy whoa there. Just go back to 1997 and see what Thailand "claimed" to have in reserves and what they actually had when the schmidt hit the fan and what the IMF found on the books.

If people really like to read about it and as the current economic problems in thailand, you can see similar things happen

This is a article From 1997

The baht spills over Thailand’s once-vibrant economy is sick. Its neighbours are worrying that the disease may be contagious.

It is true that some other countries show symptoms of the Thai malaise: large current-account deficits, a banking sector which has lent too much money to property developers, a currency linked more or less tightly to the American dollar and, partly as a consequence, a tailing-off of export growth last year when the dollar was strong.

And so on.

lent too much money to property developers = Private debt this time

Good reading and understanding of what is going on right now.

Here is the link http://www.economist.com/node/369881