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Thai baht's strength in line with regional peers: central bank


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Thai baht's strength in line with regional peers: central bank

 

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A Thailand Baht note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

 

BANGKOK (Reuters) - Strength in Thailand's baht is in line with regional currencies, as the dollar has weakened, the central bank said on Wednesday.

 

With high external uncertainty, businesses should focus on managing currency risks and enhance productivity, Assistant Governor Chantavarn Sucharitakul said in a statement.

 

The baht <THB=TH>, Asia's best performing currency, has appreciated about 2.6 percent against the dollar this year, hovering around its highest in more than eight months hit last week.

 

Earlier on Wednesday, Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said the central bank should not raise its policy rate further this year, as it would increase cost for businesses and make the baht even stronger, hitting already slower exports.

 

Last month, the central bank hiked its benchmark rate for the first time in more than seven years, by 25 basis points to 1.75 percent.

 

It will next review monetary policy on Feb. 6.

 

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-- © Copyright Reuters 2019-01-23

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2 hours ago, fforest1 said:

What a sack of lies......Pull up ANY currency chart except Singapore in SE Asia...The Baht has been vastly stronger for many years...

Imagine being a Thai billionaire who likes to live in Europe or other western country.

 

Considering the corruption and common goal of other super 0.1% rich you can pull the strings.

 

When you have billions every % makes for small fortune.

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1 minute ago, AtoZ said:

Imagine being a Thai billionaire who likes to live in Europe or other western country.

 

Considering the corruption and common goal of other super 0.1% rich you can pull the strings.

 

When you have billions every % makes for small fortune.

I guess you were not here in 1997 as it totally contradicts your argument.  Suggest reading a bit more before you post.  Or a trip to Thailand might be an eye opener for you. 

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10 hours ago, racket said:

A stronger bath will also make imports cheaper since Thailand heavily relies on foreign goods and services. 

That might be so, but looking in the shops I see foreign products with hiked prices.

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2 minutes ago, natway09 said:

The actual change in currency for Thai Bht from 31 January 06 to 11 Jan 19 is

USD       - 18.51

Euro       - 22.68

UK         -  41.04

Japan     -  11.88

Aust       - 22.46

Sing D     -  2.1

Swiss F    +6.15

Cheers

The same goes for just about all other countries in the world too....The Baht has been incredibly strong....

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If doing an extension based on monthly income and you're right on the edge, then you might want to reconsider and just go with the 800,000 option this year. BTW, the culprit as far as the dollar goes, is Weak Dollar Trump, who has been wanting to devalue the currency since he came into office. If he gets his way, the dollar will go below 30 and maybe to 29. It was there not that long ago.

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