Αποστολέας Θέμα: Thailand Wants to Restrain the World’s Strongest Currency  (Αναγνώστηκε 1297 φορές)

0 μέλη και 1 επισκέπτης διαβάζουν αυτό το θέμα.

Αποσυνδεδεμένος thailandgr

  • Γενικός συντονιστής
  • *****
  • Μηνύματα: 8945
  • Φύλο: Άντρας
  • OS:
  • Windows 10 Windows 10
  • Browser:
  • Firefox 68.0 Firefox 68.0
    • Ταυλανδη - χωρα παραδεισος
Thailand Wants to Restrain the World’s Strongest Currency
« στις: Ιούλιος 14, 2019, 13:34:13 μμ »
Thailand Wants to Restrain the World’s Strongest Currency

Thailand’s central bank is fretting over how to cool the world-beating surge in the baht just as the U.S. keeps a watchful eye out for signs of unfair currency policies.

Bank of Thailand officials intensified verbal intervention in the past week, with Senior Director Don Nakornthab saying Wednesday the “worried” monetary authority is mulling how the baht can be restrained. He also flagged the possibility of an interest-rate cut.

The baht has climbed 8.3% against the dollar in the past year, the best performer globally, according to Bloomberg-compiled data. It’s viewed as a safe haven given Thailand’s history of current-account surpluses and near-record foreign reserves.

Thai foreign-exchange reserves are rising toward a record level

The currency’s surge threatens to deepen this year’s sharp slowdown in the export-led economy.

“For now, verbal intervention, physical intervention and closely monitoring non-resident Thai baht accounts” are options for the central bank, but capital controls are unlikely, said Roong Sanguanruang, a market analyst at Bank of Ayudhya Pcl in Bangkok.

Intervention in the foreign-exchange market isn’t as easy as before because of growing U.S. criticism, she also said.

Sliding exports pose a threat to Thai economic expansion

Thailand was listed as a major trading partner in the Treasury Department’s semi-annual foreign-exchange report in May, signaling greater oversight of its currency policy.

The Bank of Thailand has previously rejected allegations of currency manipulation and said it doesn’t seek an unfair advantage in trade.

Don said Wednesday he didn’t know which steps to restrain the currency could be rolled out, while adding that one option may be to ask banks to be stricter on short-term transactions by non-residents.

The baht weakened 0.2% against the dollar as of 11:15 a.m. on Thursday in Bangkok.

The central bank left borrowing costs at 1.75% and cut its economic growth forecasts last month as the U.S.-China trade war dims the nation’s outlook.

Read More:

— With assistance by Ravil Shirodkar

https://www.bloomberg.com/news/articles/2019-07-03/-worried-thai-central-bank-looking-at-steps-to-damp-baht-surge



"Δικό σου είναι αυτό που δεν μπορεί να υπάρξει χωρίς εσένα"
The Little Prince - Antoine de Saint-Exupéry

thai.gr

Thailand Wants to Restrain the World’s Strongest Currency
« στις: Ιούλιος 14, 2019, 13:34:13 μμ »