The Thai baht has fallen to a record low on renewed concerns over fiscal discipline following the announcement of a new digital wallet program. This development has led to significant capital outflows from Thailand's bond and equity markets, with continued impact on regional financial stability.
Weak Thai Baht is good news for exports and farmers
The depreciation of the Thai Baht against the US dollar is good news for the export sector, which expects to grow as a result.
I'm going to emigrate next year with my Thai wife, and of course there are costs involved, such as in my case the bank amount of 400.000 baht that I want to deposit into my Thai bank account, in connection with applying for a visa. There are of course some start-up costs, such as the purchase of a TV, washing machine, refrigerator, etc.
It goes without saying that not only the Thai, but also the entire world economy - including tourism - has completely diluted. What surprises me is that, despite this sluggish economy, the exchange rate of the Thai Baht compared to many other currencies is relatively high.
Storing money in the Netherlands or in Thailand?
It may have been a year since this blog asked for advice on holding euros or exchanging them for Thai baht. Many recommendations went in the direction of holding in euros and exchanging when the exchange rate is favourable.
