Author Topic: Baht strengtening/weakening  (Read 28541 times)

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Offline thaiga

Re: Baht strengtening/weakening - Baht strongest in 25 months
« Reply #180 on: July 18, 2017, 02:35:32 PM »
Baht closes at 33.66 baht/dollar, the strongest in 25 months

The Thai baht closed at 33.66 baht against the US dollar, the strongest in 25 months after the currency was trading between 33.73-33.75 baht/dollar throughout Monday (July 17), said Jitipol Puksamatanan, a currency and capital markets strategist of the Krung Thai Bank.

He attributed the quick strengthening of the Thai baht to massive sale of US dollars coupled with the inflow of foreign capital, including fund flow for the takeover of LH Bank.

Mr Jitipol noted the quick strengthening of the baht coincides with the weakening of the US dollar which is unlikely to get stronger while the Bank of Thailand is reluctant to intervene.

He predicted that the Thai baht would get stronger next week to 33.60 baht/dollar and may rise to 33.50 baht/dollar if fund flow continues to pour into the country.

englishnews.thaipbs.or.th

Anyone who goes to a psychiatrist should have his head examined.
 

Offline Johnnie F.

Re: Baht strengtening/weakening
« Reply #181 on: July 18, 2017, 06:55:12 PM »
The Thai Baht isn't getting stronger at all! Euro and Pound are also gaining against the Baht, though by far not as much as the Dollar is loosing. Investors are loosing confidence in the US economy, since the president proves unable to fulfill his promises.
Fun is the one thing that money can't buy
 

Offline thaiga

Re: Baht strengtening/weakening
« Reply #182 on: July 18, 2017, 07:47:24 PM »
The Thai Baht isn't getting stronger at all! Euro and Pound are also gaining against the Baht
SHUSH! they haven't noticed  8)
Anyone who goes to a psychiatrist should have his head examined.
 

Offline Johnnie F.

Re: Baht strengtening/weakening
« Reply #183 on: July 18, 2017, 08:29:28 PM »
SHUSH! they haven't noticed  8)

Maybe they're just too polite to destroy that guy's dream of "making America the greatest (again ;))"
Fun is the one thing that money can't buy
 

Offline thaiga

Re: Baht strengtening/weakening - Strong baht yet to affect growth
« Reply #184 on: July 20, 2017, 02:32:45 PM »
Strong baht yet to affect growth - finance minister

Economic growth has not yet been affected by a strong baht, the finance minister said on Thursday, as the currency hovered near 26-month highs against the dollar.

"The baht's strength has not yet affected growth. We believe big business sectors can still handle it although SMEs may see some impact," Apisak Tantivorawong told reporters.

The baht has risen 6.5% against the US dollar so far this year, the most in Southeast Asia.

The finance ministry has forecast economic growth of 3.6% this year after 3.2% growth last year.

bangkokpost.com
Anyone who goes to a psychiatrist should have his head examined.
 

Offline Johnnie F.

Re: Baht strengtening/weakening
« Reply #185 on: September 09, 2017, 01:55:22 PM »
Nod for foreigners issuing bonds in baht



The Finance Ministry will let foreign state agencies and companies apply for baht-denominated bond issuance as a special case from Sept 6 to Oct 6, a move expected to help curb the baht's rapid gain.

Foreign entities that win Finance Ministry approval must issue the baht bonds with a maturity of up to three years between Nov 1, 2017 and March 31, 2018, the Public Debt Management Office (PDMO) said in a release.

The issuers will be allowed to use the proceeds only in domestic transactions in baht terms and for onshore spot exchange.

The ministry will open applications for foreign entities to offer baht-denominated bonds three times a year: in March, July and November.

An informed source at the Finance Ministry said the special period for baht bond applications is in line with the initiatives of Finance Minister Apisak Tantivorawong, since he believes that letting foreign entities issue baht bonds will help stem the sharp appreciation of the baht, as bond issuers must convert proceeds to US dollars.

But the issuance size depends on the Finance Ministry's discretion, the source said.

The baht is among the top-performing currencies in Asia, up 7.7% year-to-date, according to Bloomberg data. In comparison, the Japanese yen has surged 7.9%, the Singaporean dollar 7.6% and the Taiwanese dollar 7.4% since the start of the year.

In related news, the PDMO said the Finance Ministry has approved the issuance of baht-denominated bonds by the Lao government and Nam Ngum 2 Power Co.

Both foreign entities are required to issue the baht-dominated bonds or debentures in Thailand by May 31, 2018, and must use all proceeds from the debentures according to the terms and conditions specified by the Finance Ministry.

Bangkok Post

Wasn't it the Yanks under DT who recently had to raise their debt limit to keep from going bankrupt? They might as well try to borrow from Thais and by that help depreciating the Baht.
Fun is the one thing that money can't buy
 

 



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