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Home » News from Thailand » Bank of Thailand: Measures to dampen Thai baht value
Bank of Thailand: Measures to dampen Thai baht value
The Bank of Thailand will announce additional measures on December 9 to contain the baht. Director Chayawadee Chai-Anant attributes the currency's strength to both short-term and long-term factors. A too strong baht is unfavorable for the Thai economy, which is dependent on exports.
The measures that will be taken in the first quarter of next year aim to dampen the baht so that the value of the currency fits better in the financial system.
The baht has recently strengthened again due to various factors such as the good news about a corona vaccine, which has attracted inflows of funds, according to the BoT. These inflows are not beneficial for the liquidity management of the country because they are not investments.
Thailand posted a payment surplus of $0,99 billion in October from $1,31 billion a month earlier. Exports contracted by 5,6 percent in October compared to a year earlier, against 4,2 percent in September. Imports fell 12,1 percent from a year earlier, bringing the trade surplus to $3,17 billion for the month.
Source: Bangkok Post
Repetition of previous reporting. Seeing is believing. According to the US, the Thai Baht is being manipulated. Wouldn't surprise me.
For months and months they have been monitoring the baht, taking measures, placing the baht under special supervision, the baht is being scrutinized etc etc... Lots of announcements but no actions, at least none that are sufficient. I read the Bangkok Post every day. I don't believe much of it, just as Henk has already written "seeing is believing"
Goodbye,
@Henk and @Geert
That will be all right, but what is the importance of the BoT to have an overrated Baht? For the Thai export is a much lower baht very important.
Monetary policy in Thailand is not focused on what is good for Thailand but what is good for the Thai elite…. and there are other interests at play.
Sorry editor, typo in my previous comment:
Monetary policy in Thailand is not focused on what is good for Thailand but what is good for the Thai elite…. and there are other interests at play.
Geert,
Your response will come up with more problems.
A few weeks ago the quarantine would also be shortened to 7 days.
Many promises and measures, little or no result, unfortunately.