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World-beating currency gives Thailand major economic headache

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World-Beating Currency Gives Thailand Major Economic Headache

By Anuchit Nguyen

 

-- Baht is best performer globally against dollar over five years

-- Growth estimates cut for economy relying on trade and tourism

 

baht.jpg

File photo

 

Thailand’s effort to revive economic growth with more than $10 billion of stimulus faces an obstacle from its surging currency.

 

The baht has strengthened more than 6% against the dollar in 2019, the most among major Asian currencies, and its appreciation leads the world over the past five years, according to data compiled by Bloomberg.

 

The climb has hurt tourism and exports, contributing to the weakest economic expansion since 2014 as the U.S.-China trade spat also hits home. The baht is seen as a safe haven and officials will be wary of intervening too much in foreign-exchange markets as the U.S. closely monitors countries’ currency policies, according to Australia & New Zealand Banking Group Ltd.

 

Full story: https://www.bloomberg.com/news/articles/2019-09-11/world-beating-currency-a-major-challenge-for-thailand-s-economy

 

-- Bloomberg 2019-09-12

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Ok so thailand has the best performing currency against usd. But i see lots of news about this next recession. Everyone will be draged into it supposedly. But asian markets will recover first as there not in deep like the euros and americans.

So whats the best move? Put usd to equal 800k in a bank here for a visa? Or buy property in vietnam? I am on the fence so to speak. I have ties in vietnam but prefer thailand. I know investing in thailand is a bad investment with the government driving it into the ground.

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7 minutes ago, quadperfect said:

Ok so thailand has the best performing currency against usd. But i see lots of news about this next recession. Everyone will be draged into it supposedly. But asian markets will recover first as there not in deep like the euros and americans.

So whats the best move? Put usd to equal 800k in a bank here for a visa? Or buy property in vietnam? I am on the fence so to speak. I have ties in vietnam but prefer thailand. I know investing in thailand is a bad investment with the government driving it into the ground.

"If I was a gambling man" like them industry-folks, I'd hedge my funds on Vietnam, 15Bn baht to 1Bn during 5 years in FDI (Foreign Direct Investment) should tell you that much 🏴‍☠️

Edited by jabis
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