- General
- Business
- Moodys's say
- Economy
- Bank and Finance
- Politics
- Energy
- World
- Environment
- Entertainmentt
- Sport
- Agro and Food
- Lifestyle
New BoT measures to contain baht appreciation
By k on August 4, 2009
BANGKOK, Aug 4 (TNA) – Bank of Thailand (BoT) Governor Tarisa Watanagase on Monday revealed the central bank will produce a new package of measures to encourage private companies and local investors to invest more overseas in a bid to contain the baht appreciation.
She said the new package is additional to the previous one under which private companies are allowed by the BoT to invest in debt instruments and securities overseas.
Previously, Deputy Prime Minister Korbsak Sabhavasu suggested the strengthening of the baht against the US dollar be addressed through various measures.
He urged the central bank to revise the measure to control the capital outflow.
Mrs Tarisa said the baht had moved in the same direction with other currencies.
From the beginning of this year to the first quarter, the baht had appreciated 4 per cent against the US dollar while Indonesian rupiah had strengthened 16-17 per cent and South Korean won had risen 13-14 per cent.
In the second quarter, the baht had strengthened only by 0.06 per cent while other currencies had appreciated by an average of 2-4 per cent.
In consequence, she said the baht had moved in the medium level, and it had not caused Thailand to lose competitiveness.
She attributed the stronger baht to the trade surplus as imports reduced in a greater amount of exports.
Should the economy pick up, exports and imports would be balanced and the trade surplus would lessen, which could make the baht weaken.
Because this, private companies and investors must oversee risks because no one could forecast the direction of the baht. (TNA)
Related posts:
- Thai Chamber urges central bank to move baht closer to other currencies BANGKOK, June 12 (TNA) – The Bank of Thailand...
- Bank of Thailand chief refutes criticism on baht BANGKOK, Aug 1 (TNA) – Bank of Thailand (BoT) Governor...
- Thai central bank encourages overseas investment to contain baht rise BANGKOK, Aug 6 (TNA) – Bank of Thailand (BoT) Deputy...
- Baht moves in same direction as regional currencies, says BoT BANGKOK, Oct 13 (TNA) – Bank of Thailand (BoT) Governor...
- BOT eyes easing regulations on investments to help weaken strong Baht BANGKOK, 3 August 2009 (NNT) – The Bank of Thailand...
Related posts brought to you by Yet Another Related Posts Plugin.
Readers Comments
Business News »
New trading policy to boost number of Japanese investors
March 12, 2010
BANGKOK, 12 March 2010 (NNT) - Japanese investors will likely pay attention to the new trading policy rather than political problems.
According to Finance Minister Korn Chatikavanich, current political problem would not hurt investor confidence and would not raise any concerns during his trip to Japan on 12-13 March. Japanese investors would rather be attentive to [...]
Bank And Finance »
Security, cash reserves of banks well-prepared
March 12, 2010
BANGKOK, 12 March 2010 (NNT) – Commercial Banks have prepared security measures and adequate cash reserves upon the mass demonstration of the anti-government United Front of Democracy Against Dictatorship (UDD).
Kasikorn Bank CEO Banthoon Lamsam stated that cash withdrawal of customers at present was normal, and the bank would not increase the amount of cash reserves [...]
General News »
Govt, UDD urged for endurance, mutual responsibility
March 12, 2010
BANGKOK, 12 March 2010 (NNT) – The Psychiatric Association of Thailand (PAT) has pleaded both the government and the United Front of Democracy Against Dictatorship (UDD) to uphold endurance and mutual responsibility to refrain from violence.
PAT President MD Yongyud Wongpiromsarn stated that both the UDD and the government must uphold tolerance and mutual responsibility without [...]
Economy »
Commerce Ministry urges continued production during rally
March 12, 2010
BANGKOK, 12 March 2010 (NNT) – The Commerce Ministry requests department stores and manufacturers of goods to make sure that there will be no shortages of products during the period of protests of the anti-government group.
After meeting with representatives of 40 department stores and manufacturers, Department of Trade Negotiation Director-General Chutima Boonyaprapat advised them to [...]
Energy »
More energy needed: more solutions wanted
March 10, 2010
BANGKOK, 10 March 2010 (NNT) - The Ministry of Energy hosts the ‘Fuel Options for Electricity Generation’ seminar to discuss possible energy alternatives for Thailand
Minister of Energy, Dr Wannarat Channukul, presided over the opening ceremony advising public and private sectors to not emphasize development on a certain alternative energy source too much. Disruption of energy [...]
Politics »
Security tightened, checkpoints scan for weapons as Red Shirts nationwide set to enter Bangkok
March 12, 2010
BANGKOK, March 12 (TNA) - Thai government security forces on Friday tightened protective measures in Bangkok with checkpoints set up across the capital and surrounding provinces to strictly screen incoming travellers and transport for arms and explosives as the anti-government movement mobilises what it claims as one million protesters to join their mass protest planned [...]