Foreign reserves up $800 million this week to $179.7 billion

THAILAND -- Thailand’s foreign reserves as of June 17 increased US$800 million or 28 billion baht to US$179.7 billion or 6.34 trillion baht based on the exchange rate of 35.15 baht/US dollar, according to the Bank of Thailand.

Last week’s foreign reserves stood at US$178.9 billion or 6.307 trillion baht.

Thailand’s forward stood at US$15.1 billion, representing a slight increase of US$100 million compared to last week’s forward US$ 15.0 billion, resulting in net foreign reserves amounting to US$194.8 billion compared to last week’s net foreign reserves of US$193.9 billion.

A currency trader at the Siam Commercial Bank said that it was possible that the central bank might have bought more foreign currencies to be kept as reserves to prevent bank from strengthening too fast which will pose an obstruction to domestic economic recovery.

Revolving cash of the private sector and financial institutes’ cash deposits with the central bank stood at 1.5 trillion baht compared to last week’s 1.572 trillion baht.

Source: http://englishnews.thaipbs.or.th/foreign-reserves-800-million-week-179-7-billion/

-- Thai PBS 2016-06-24

Time to buy a few Submarines,then

regards worgeordie

Yes, they can dock the subs with their acft carrier...great theme park setup.

Hmmm. No good. Too much foreign reserve will fuel Thai exceptionalism.

Something needs to happen to that.

W

All that money ain't worth a fart if you can't use it wisely.

All that money ain't worth a fart if you can't use it wisely.

The boys in charge will be looking for a toy store window to press their faces against. I guess a pension increase and minimum wage increase are out of the question.

How come as you read article there seems to be a 700 milion difference from headline?

How come as you read article there seems to be a 700 milion difference from headline?

Stop splitting hairs .... it's poetic licence ...

One of the reasons the baht stays strong.

Edited June 25, 201610 yr by Thailand

One of the reasons the baht stays strong.

Kept George Soros away.

How come as you read article there seems to be a 700 milion difference from headline?

lets not spoil things with exact figures and calculations and stuff

they had to use 4 casio calculators next to each other to work this out

they used calculators so it all must be correct

and better not mention they will lose that extra amount as exchange rate goes back to what it was last before

or that half will be lost when economy collapses after years of propping up the baht and unsustainable debt.

Congratulations all round, on the false strength of the baht.

I must admit I don't understand. The economy is in the doldrums but foreign reserves are up.

I must admit I don't understand. The economy is in the doldrums but foreign reserves are up.

Manipulation of markets.

Someone gets richer while someone gets poorer.

Yes, they can dock the subs with their acft carrier...great theme park setup.

Admission price double for foreigners who will still be prohibited from taking photograhs of the ' state secrets '.

Based on the exchange rate of 35.15 baht/US dollar.....

How much of the increase in foreign reserve is due to devaluing baht??

Not really much of an accomplishment, is it.