News

Ministry upbeat on baht rebound

The Finance Ministry expects the baht’s value to rebound in the second half this year, in line with the anticipated narrowing of the current account deficit, says a ministry source who requested anonymity.According to Reuters, Bank of Thailand officials said yesterday the bank will let ...

Wichit Chantanusornsiri

Weak baht helps Thai exports surge in July

Thai exports are maintaining their growth momentum, surging by 20.2% year-on-year in July despite ongoing Covid-19 outbreaks.The increase was boosted by the robust global economic recovery, depreciation of the Thai baht, rising oil prices, and export promotions by the Commerce Ministry and the private sector.The ...

Phusadee Arunmas

Thailand Has Never Used Exchange Rate to Gain Unfair Trade Advantage

The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.BoT assistant governor Chantavarn Sucharitakul said the central ...

NNT Reporter

Covid-19 situation in Thailand could determine baht's value

The baht opened at 31.17 to the US dollar on Friday, strengthening from its close of 31.49 on Monday.The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said.He expected the baht to strengthen due ...

The Nation Reporter

Thai baht is worst performing currency in Southeast Asia

The Thai baht was the worst performer among commonly traded Southeast Asian currencies during the first quarter, as its fundamentals were eroded due to lack of tourist spending.The baht depreciated 4% against the U.S. dollar to 31.24, according to Refinitiv data. The fall stood out ...

Exports seen up 3-4% this year, but strong baht weighs -shippers

Thailand’s exports are expected to grow by 3% to 4% this year as the global economy recovers, but a stubbornly strong baht currency remains a worry, the shippers’ council said on Tuesday.Exports, a key driver of growth, could perform better than expected on vaccine developments ...

Baht stays firm, but funds inflows to determine direction

The baht opened at 30 to the US dollar on Friday, unchanged from Thursday’s closing rate. The Thai currency is likely to move between 29.90 and 30.05, said Krungthai market strategist Poon Panichpibool.On Thursday night, the S&P 500 and Nasdaq indexes fell by 0.4 and 0.1 ...

The Nation Reporter

Baht unchanged, could strengthen from possible economic recovery

The baht opened at 30.03 to the US dollar on Thursday, unchanged from its closing rate on Wednesday.The Thai currency is likely to move between 29.90 and 30.10 during the day, predicted Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.Keep reading ...

The Nation Reporter

Bank of Thailand takes action to curb Thai baht’s strength

The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas ...

Political tensions, US data hold key to baht's direction next week

Kasikornbank predicted the baht would move between 30 to 30.40 per US dollar next week, with several factors requiring monitoring by investors.The bank said that the political situation in Thailand, as well as export data for October to be announced in the near future, would ...

The Nation Reporter

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