rooster59 Posted March 11, 2016 Share Posted March 11, 2016 Thailand’s foreign reserves up 1.6 billion US dollars this week BANGKOK: Thailand’s foreign reserves as of March 4 stood at US$169.6 billion or 6.008 trillion baht representing an increase of US$1.6 billion or 56 billion baht compared to last week’s. Net forward for the same period was registered at US$11 billion representing an increase of US$ 800 million compared to last week. This has resulted to net foreign reserve to stand at US$180.6 billion representing steady increase since the end of last year.Currency traders attributed the increase in foreign reserves to the re-evaluation of foreign currencies in reserves which have increased in value in wake of the weakening of US dollars.Also, trade in foreign currencies increased accordingly with the increased trade activities and exports.Revolving fund of the private sector and deposits of financial institutions held at the Bank of Thailand also increased from 1.634 trillion baht to 1.65 trillion baht this week. Source: http://englishnews.thaipbs.or.th/content/154721 -- Thai PBS 2016-03-12 Link to comment Share on other sites More sharing options...
chiang mai Posted March 11, 2016 Share Posted March 11, 2016 Looks like gold holdings played a role in this also, nice balance sheet regardless: http://www2.bot.or.th/statistics/BOTWEBSTAT.aspx?reportID=94&language=ENG Link to comment Share on other sites More sharing options...
terryp Posted March 12, 2016 Share Posted March 12, 2016 would be interesting to know what they have planned when the $ finally drops ..... Link to comment Share on other sites More sharing options...
Roota Posted March 12, 2016 Share Posted March 12, 2016 would be interesting to know what they have planned when the $ finally drops ..... Er, that's exactly the point of this story. Thailand's foreign reserves are spread across a number of currencies, and in total they've gone up against the USD in recent months, hence the increase in total value. No worries about their size either - they're greater than those of either the U.S. or the U.K. After the fiasco of 1997 the Thai authorities evidently want to err on the side of caution. Link to comment Share on other sites More sharing options...
PatOngo Posted March 12, 2016 Share Posted March 12, 2016 The snouts will be happy, the trough is full! Link to comment Share on other sites More sharing options...
Eric Loh Posted March 12, 2016 Share Posted March 12, 2016 Thailand foreign reserve is quite a war chest. By that amount of USD180 B, Thailand is considered a rich nation. Bitter lesson learned from the '97 crisis when our small reserve was wiped out defending the Baht. This huge asset can easily be mismanaged by an incompetent government. I have not seen any or heard of the any article in the constitution that protects this strategic asset. Just curious. Link to comment Share on other sites More sharing options...
rubl Posted March 12, 2016 Share Posted March 12, 2016 Thailand foreign reserve is quite a war chest. By that amount of USD180 B, Thailand is considered a rich nation. Bitter lesson learned from the '97 crisis when our small reserve was wiped out defending the Baht. This huge asset can easily be mismanaged by an incompetent government. I have not seen any or heard of the any article in the constitution that protects this strategic asset. Just curious. Has there ever been a specific article in any of the former constitutions? BTW 'our' reserve was wiped out in 1997 by the then government ordering the defense of the Thai Baht. The then Governor of the BoT was later ruled guilty and ordered to pay back a few billion if I remember correctly. PS Thai foreign reserves http://cdn.tradingeconomics.com/charts/[email protected]?s=thailandforexcres&v=201603100813n&d1=19160101&d2=20161231 http://www.tradingeconomics.com/thailand/foreign-exchange-reserves Link to comment Share on other sites More sharing options...
Eric Loh Posted March 12, 2016 Share Posted March 12, 2016 (edited) Thailand foreign reserve is quite a war chest. By that amount of USD180 B, Thailand is considered a rich nation. Bitter lesson learned from the '97 crisis when our small reserve was wiped out defending the Baht. This huge asset can easily be mismanaged by an incompetent government. I have not seen any or heard of the any article in the constitution that protects this strategic asset. Just curious. Has there ever been a specific article in any of the former constitutions? BTW 'our' reserve was wiped out in 1997 by the then government ordering the defense of the Thai Baht. The then Governor of the BoT was later ruled guilty and ordered to pay back a few billion if I remember correctly. PS Thai foreign reserves http://cdn.tradingeconomics.com/charts/[email protected]?s=thailandforexcres&v=201603100813n&d1=19160101&d2=20161231 http://www.tradingeconomics.com/thailand/foreign-exchange-reserves The concern is clearly reflected in this article. <<<<26) The Bangkok Post and Phuketwan do not allow quotes from their news articles or other material to appear on Thaivisa.com. Neither do they allow links to their publications. Posts from members containing quotes from or links to Bangkok Post or Phuketwan publications will be deleted from the forum.>>>> Just my personal feeling that the laws are not sufficient to protect the reserve. In the hands of the BOT which can be influenced and manipulated by politicians. The constitution written to prevent the government getting their hands on the reserve and transferring of funds to cover government deficits are stronger. Edited March 12, 2016 by metisdead Link to comment Share on other sites More sharing options...
rubl Posted March 12, 2016 Share Posted March 12, 2016 Thailand foreign reserve is quite a war chest. By that amount of USD180 B, Thailand is considered a rich nation. Bitter lesson learned from the '97 crisis when our small reserve was wiped out defending the Baht. This huge asset can easily be mismanaged by an incompetent government. I have not seen any or heard of the any article in the constitution that protects this strategic asset. Just curious. Has there ever been a specific article in any of the former constitutions? BTW 'our' reserve was wiped out in 1997 by the then government ordering the defense of the Thai Baht. The then Governor of the BoT was later ruled guilty and ordered to pay back a few billion if I remember correctly. PS Thai foreign reserves http://cdn.tradingeconomics.com/charts/[email protected]?s=thailandforexcres&v=201603100813n&d1=19160101&d2=20161231 http://www.tradingeconomics.com/thailand/foreign-exchange-reserves The concern is clearly reflected in this article. -- link to bangkok post removed -- Just my personal feeling that the laws are not sufficient to protect the reserve. In the hands of the BOT which can be influenced and manipulated by politicians. The constitution written to prevent the government getting their hands on the reserve and transferring of funds to cover government deficits are stronger. So, till now no constitution has such articles? I think this falls under 'good governance' and should be covered by some organic laws. Link to comment Share on other sites More sharing options...
Goldieinkathu Posted March 12, 2016 Share Posted March 12, 2016 The snouts will be happy, the trough is full! Many TV posters won't be happy though - not nice to think that Thailand might have done something right for a change . For me it's nice to hear positive news for a change. Link to comment Share on other sites More sharing options...
bangrak Posted March 12, 2016 Share Posted March 12, 2016 Or did Thaksin give back to Thailand all the money he has fraudulently taken away from it in one time...? Link to comment Share on other sites More sharing options...
Srikcir Posted March 12, 2016 Share Posted March 12, 2016 Everything is globally connected. A weakened USD means a stronger baht, means lower exports and lower Thai GDP growth. So an increase in foreign reserve value might not be beneficial. Thailand is already suffering from flight of foreign capital due to a sluggish, if not faltering economy. If the USD continues to weaken, the Bank of Thailand may have to cut interest rates again to attract capital for economic growth. That will then increase the value of the dollar against the baht. Link to comment Share on other sites More sharing options...
Eric Loh Posted March 12, 2016 Share Posted March 12, 2016 Thailand foreign reserve is quite a war chest. By that amount of USD180 B, Thailand is considered a rich nation. Bitter lesson learned from the '97 crisis when our small reserve was wiped out defending the Baht. This huge asset can easily be mismanaged by an incompetent government. I have not seen any or heard of the any article in the constitution that protects this strategic asset. Just curious. Has there ever been a specific article in any of the former constitutions?It falls under the BOT Act. Just my humble opinion that it should be strengthened as the reserve is a big strategic asset.BTW 'our' reserve was wiped out in 1997 by the then government ordering the defense of the Thai Baht. The then Governor of the BoT was later ruled guilty and ordered to pay back a few billion if I remember correctly.PS Thai foreign reserveshttp://cdn.tradingeconomics.com/charts/[email protected]?s=thailandforexcres&v=201603100813n&d1=19160101&d2=20161231http://www.tradingeconomics.com/thailand/foreign-exchange-reserves The concern is clearly reflected in this article.-- link to bangkok post removed --Just my personal feeling that the laws are not sufficient to protect the reserve. In the hands of the BOT which can be influenced and manipulated by politicians. The constitution written to prevent the government getting their hands on the reserve and transferring of funds to cover government deficits are stronger. So, till now no constitution has such articles? I think this falls under 'good governance' and should be covered by some organic laws. It falls under the BOT Act. Just my opinion that it should be strengthened as it is a huge strategic asset. Link to comment Share on other sites More sharing options...
rubl Posted March 12, 2016 Share Posted March 12, 2016 (edited) Has there ever been a specific article in any of the former constitutions? It falls under the BOT Act. Just my humble opinion that it should be strengthened as the reserve is a big strategic asset. BTW 'our' reserve was wiped out in 1997 by the then government ordering the defense of the Thai Baht. The then Governor of the BoT was later ruled guilty and ordered to pay back a few billion if I remember correctly. PS Thai foreign reserves http://cdn.tradingeconomics.com/charts/[email protected]?s=thailandforexcres&v=201603100813n&d1=19160101&d2=20161231 http://www.tradingeconomics.com/thailand/foreign-exchange-reserves The concern is clearly reflected in this article.-- link to bangkok post removed -- Just my personal feeling that the laws are not sufficient to protect the reserve. In the hands of the BOT which can be influenced and manipulated by politicians. The constitution written to prevent the government getting their hands on the reserve and transferring of funds to cover government deficits are stronger. So, till now no constitution has such articles? I think this falls under 'good governance' and should be covered by some organic laws. It falls under the BOT Act. Just my opinion that it should be strengthened as it is a huge strategic asset. Even the previous government left it alone going for a controversial 'borrow 2 trillion Baht now, pay later" bill. That suggests the protection by law is sufficient. Edited March 12, 2016 by rubl Link to comment Share on other sites More sharing options...
Roomuck Posted March 12, 2016 Share Posted March 12, 2016 They are doing very well these Thais despite what you read about from thaivisa experts. Huge foreign reserves, negative unemployment ( have enough jobs for 3million foreign workers) , growth higher than most western countries and thirty million tourists arriving this year. Very clever people. Link to comment Share on other sites More sharing options...
khunken Posted March 12, 2016 Share Posted March 12, 2016 The concern is clearly reflected in this article.-- link to bangkok post removed -- Just my personal feeling that the laws are not sufficient to protect the reserve. In the hands of the BOT which can be influenced and manipulated by politicians. The constitution written to prevent the government getting their hands on the reserve and transferring of funds to cover government deficits are stronger. So, till now no constitution has such articles? I think this falls under 'good governance' and should be covered by some organic laws. It falls under the BOT Act. Just my opinion that it should be strengthened as it is a huge strategic asset. Even the previous government left it alone going for a controversial 'borrow 2 trillion Baht now, pay later" bill. That suggests the protection by law is sufficient. Not quite Rubl. Let's not forget the Kittirat's 'under-the-BOT-carpet' sweeping of B1.15tn of outstanding debt from the 1997 crisis. I Think Eric has a point insofar as protecting the BOT against government interference would be safer within the constitution as organic laws are too easily changed. Link to comment Share on other sites More sharing options...
ginjag Posted March 12, 2016 Share Posted March 12, 2016 Just a coincidence ---are a few anti PM posters away for the W/E. only 2 die hards posted-----and they are playing it down------Normal. Still looking for about a trillion baht, has been stated few accounts were kept, so NOT BAD News at all. Link to comment Share on other sites More sharing options...
Roomuck Posted March 12, 2016 Share Posted March 12, 2016 Just a coincidence ---are a few anti PM posters away for the W/E. only 2 die hards posted-----and they are playing it down------Normal. Still looking for about a trillion baht, has been stated few accounts were kept, so NOT BAD News at all. Yeah, stories that show how well the Thais are doing just don't rate well on thaivisa. But a fake story about Muslim refugees banning pork in Germany or a ladyboy slapping down a rude tourist, they get heaps of comments and run for days. Link to comment Share on other sites More sharing options...
jucel Posted March 13, 2016 Share Posted March 13, 2016 They are doing very well these Thais despite what you read about from thaivisa experts. Huge foreign reserves, negative unemployment ( have enough jobs for 3million foreign workers) , growth higher than most western countries and thirty million tourists arriving this year. Very clever people. What absolute BS & a typical myopic view! Thailand is a 3rd world country and should have much higher reserves at the stage they are at in their development. They should have been growing at 6/7% per year for the last 15 years. They haven't due to political problems etc. What happens when the Thai workers become too expensive? What happens when the people cry out for welfare reform etc etc Look how the Saudis and other oil nations are burning through their reserves. It will not take much to tip Thailand into a similar scenario. Link to comment Share on other sites More sharing options...
LeeKat Posted March 14, 2016 Share Posted March 14, 2016 They are doing very well these Thais despite what you read about from thaivisa experts. Huge foreign reserves, negative unemployment ( have enough jobs for 3million foreign workers) , growth higher than most western countries and thirty million tourists arriving this year. Very clever people. What absolute BS & a typical myopic view! Thailand is a 3rd world country and should have much higher reserves at the stage they are at in their development. They should have been growing at 6/7% per year for the last 15 years. They haven't due to political problems etc. What happens when the Thai workers become too expensive? What happens when the people cry out for welfare reform etc etc Look how the Saudis and other oil nations are burning through their reserves. It will not take much to tip Thailand into a similar scenario. Thailand and Singapore are the region's foreign reserve "leaders" take it or leave it! Link to comment Share on other sites More sharing options...
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