Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals.
Thai Airways struggled to operate due to the global economic slowdown resulting in lesser tourist arrivals.
Moody’s Investors Service and Fitch Ratings boosted Thailand’s credit-ratings outlook to positive from stable this month, complicating the central bank’s efforts to restrain the currency.
The bank plans to ease rules on money outflows by giving more flexibility for portfolio investment by Thai investors.
The central banks of Thailand, Malaysia, Indonesia and the Philippines have signed 3 pairs of bilateral Letters of Intent on local currency settlement to promote trade and investment.
Pada masa ini baht Thailand diniagakan pada kadar 100 baht bagi RM13 - tahap tertinggi dalam tempoh semasa.
Currency specialist says ringgit has appreciated against the greenback recently due to the underperformance of the US dollar.
The former prime minister says it is undeniable that the ringgit has fallen against the baht to the lowest level recorded 'in history'.
Perdana menteri berkata nilai ringgit merosot berbanding baht kerana kenaikan mata wang dolar AS.
Felo kanan Institut Hal ehwal Antarabangsa Singapura, Oh Ei Sun berkata, Malaysia boleh belajar daripada Thailand dalam memisahkan politik daripada pengurusan sebenar negara.
For the first time, Thailand's 100 baht is worth RM13 and Najib is needling the PH, noting that the coalition had said the ringgit would rise if he were to fall.
The baht’s climb could complicate matters by weighing on already below-target inflation.
The baht-denominated bond will have maturities between 4 and 48 years.
Piggybacking on a strong current-account surplus, the baht has braved developing-market doldrums and topped returns among 24 currencies tracked by Bloomberg.
Thailand has been relatively sheltered against the worst of the fallout this year, but the currency has recently been swept up in the market rout.
The arrangement already enables Thailand and Japan to swap their local currencies for the US dollar.
The baht’s recent drop will help boost incomes for the 30 million Thais in the farm sector, Apisak Tantivorawong said in an interview Thursday.
The new 500 baht (US$15) and 1,000-baht notes will be in circulation from the king's birthday on July 28, Bank of Thailand Governor Veerathai Santiprabhob said in a statement.