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BANGKOK 20 June 2019 20:20
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Thailand has no policy of forex intervention for trade advantage - central bank chief

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7 hours ago, PingRoundTheWorld said:

Absolutely correct. Thailand does NOT encourage a weak baht which will give exporters advantage. They're doing the exact opposite and encouraging a STRONG baht at the expense of exporters, tourists/expats, and the economy as a whole. Not sure why though as it makes no financial sense.

not sure why? think about the elite sending/investing their strong baht into foreign countries/markets and Thai government being able to buy helicopters, armored cars/tanks from the USA and China and the elite pocketing the thick envelopes, that's why but for sure there's more

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Posted (edited)

Central bank governor defends currency intervention

 

 

The Bank of Thailand’s limited interventions in currency markets are a necessary and legitimate defense against global hot money inflows that disrupt and distort currency values, and should not be regarded as manipulation, the governor of the central bank said last week, amid increasing global attention to trade and currency values.

 

To support his contention, Bank of Thailand Governor Veerathai Santiprabhob noted that Thailand’s currency, the baht, has risen despite complaints from Thai businesses that the stronger currency is making exports less competitive. The baht has risen by more than 3 percent so far this year against the U.S dollar.

 

 

https://thaiembdc.org/2017/04/17/central-bank-governor-defends-currency-intervention/

 

 

 

Edited by metisdead
Edited as per fair use policy.

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I dunno, wasn't there some saying you can fool some of the people all of the time, you can fool all of the people some of the time, but you can't fool all of the people all of the time. I'm guessing the baht might come crashing down. Thailand has tied it's fortunes to China, for better or worse. 

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17 minutes ago, aqua4 said:

Central bank governor defends currency intervention

 

 

The Bank of Thailand’s limited interventions in currency markets are a necessary and legitimate defense against global hot money inflows that disrupt and distort currency values, and should not be regarded as manipulation, the governor of the central bank said last week, amid increasing global attention to trade and currency values.

 

To support his contention, Bank of Thailand Governor Veerathai Santiprabhob noted that Thailand’s currency, the baht, has risen despite complaints from Thai businesses that the stronger currency is making exports less competitive. The baht has risen by more than 3 percent so far this year against the U.S dollar.

 

 

https://thaiembdc.org/2017/04/17/central-bank-governor-defends-currency-intervention/

 

 

 

the Chinese were caught with their hand in the candy jar and they kept saying ... we are not currency manipulators.....

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Posted (edited)
8 minutes ago, Mavideol said:

the Chinese were caught with their hand in the candy jar and they kept saying ... we are not currency manipulators.....

There was a reason for it. Look at the date and the idea.

 

baht.jpg

 

 

They used the higher baht to contain inflation so they did not need to push up interest rates locally and encourage spending on credit. This allowed the auto sector and property to be more attractive. Now they are paying the price. So the local sales grew while export sales started to slump. 

 

cars.jpg

 

 

 

Edited by aqua4

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