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Posts tagged: Thai

Thai Baht Advances on Hopes for Overseas Inflows

By , July 22, 2014 11:13 am

H.M. King Bhumibol Adulyadej on 1,000-baht banknotesThe Thai baht advanced today on speculations that government spending will improve the nation’s economy, attracting investors to the country. The currency rose to the highest level since November.

The junta, which seized the power through a military coup, is spending money on improving the nation’s economy, which declined in the first quarter but now may return to growth. The positive economic outlook was attracting overseas inflows, making the baht one of the best-performing currencies of emerging markets. Yet some analysts warn that the currency’s gains will be short-lived due to expectations of an interest rate hike from the Federal Reserve and risk aversion that prevails on the Forex market currently.

USD/THB was down from 31.8850 to 31.7650 as of 16:41 GMT today, reaching the low of 31.7450 intraday.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Falls After Military Seizes Power

By , May 23, 2014 6:19 am

Many 1,000 THB billsThe Thai baht fell today after the Thailand’s military seized the power after six months of political turmoil. Investors had mixed view on the news, meaning that the currency’s losses were not a big as they might have been.

There are different views on what the event may mean to the economy and the currency of the country. Some experts think that the power-grab will lead to violence and a civil war. Others argue that this event is a stabilizing factor in the current turmoil, at least in a short term. As a result, some economists suggest that the current dip of the baht may be a good buying opportunity. Of course, it is hard to tell now if there is truth in such suggestions.

USD/THB fell from 32.5250 to 32.5950 as of 11:40 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Iraq to End Thai Rice Ban

By , April 11, 2014 10:51 am

Iraq to End Thai Rice Ban

By John Lee.

Iraq has lifted a ban on the importation of rice from Thailand.

The ban was imposed on private exporters in August due to quality concerns, but the Thai government has continuously defended the quality of its rice. The Iraqi government had already stopped purchasing rice directly from its Thai counterpart three years ago because of concerns about low quality.

Surasak Riangkrul, director-general of Thailand’s Foreign Trade Department, said after a trip to Iraq to reconfirm the quality with the Iraqi Trade Minister Khairallah Hassan Babiker that Iraq has pledged to resume importing Thai rice.

Iraq is one of the world’s largest importers of wheat and rice, issuing tenders for 20,000 to 30,000 tonnes of rice a month, much of which goes to supply a national food rationing programme.

Moreover, Iraq is highly likely to open talks for rice purchases from Thailand via a government-to-government (G-to-G) contract, Mr Surasak said.

(Source: Bangkok Post, Wall Street Journal)

(Rice image via Shutterstock)

Iraq Business News

Iraq to End Thai Rice Ban

By , April 11, 2014 10:51 am

Iraq to End Thai Rice Ban

By John Lee.

Iraq has lifted a ban on the importation of rice from Thailand.

The ban was imposed on private exporters in August due to quality concerns, but the Thai government has continuously defended the quality of its rice. The Iraqi government had already stopped purchasing rice directly from its Thai counterpart three years ago because of concerns about low quality.

Surasak Riangkrul, director-general of Thailand’s Foreign Trade Department, said after a trip to Iraq to reconfirm the quality with the Iraqi Trade Minister Khairallah Hassan Babiker that Iraq has pledged to resume importing Thai rice.

Iraq is one of the world’s largest importers of wheat and rice, issuing tenders for 20,000 to 30,000 tonnes of rice a month, much of which goes to supply a national food rationing programme.

Moreover, Iraq is highly likely to open talks for rice purchases from Thailand via a government-to-government (G-to-G) contract, Mr Surasak said.

(Source: Bangkok Post, Wall Street Journal)

(Rice image via Shutterstock)

Iraq Business News

Thai Baht Gains as Geopolitical Risks Decline

By , March 18, 2014 3:53 am

Thai baht banknotesThe Thai baht climbed today as political tensions in Thailand were easing, making the country attractive for overseas investors yet again. The general risk-positive sentiment on the Forex market also played in favor of the currency.

Deputy Prime Minister Yukol Limlamthong announced that the emergency decree, which was imposed on January 22, will be lifted before the planned expiration date of March 23. At the same time, the government will continue to use the Internal Security Act to control anti-government protests. The news helped the baht, which also profited from speculations that the conflict between Ukraine and Russia will not affect the global economy to a great degree.

USD/THB declined from 32.2450 to 32.1600 as of 10:16 GMT today and its daily low was at 32.0800.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Drops on Interest Rate Cut & Court Ruling

By , March 12, 2014 9:06 am

Many 1,000 THB billsThe Thai baht dropped today as the central bank performed an interest rate cut and the Constitutional Court ruled out the investment bill, which should have improved the economic climate in the country.

Judges decided that the legislation, which should have allocated 2 trillion baht ($ 62 billion) to government infrastructure projects, is unconstitutional. Meanwhile, the Bank of Thailand reduced the policy rate by 25 basis points to 2 percent. The bank explained:

The committee judges that downside risks to growth have risen in the wake of prolonged political situation.

USD/THB advanced from 32.3650 to 32.4050 as of 15:45 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Maintains Gains, Can It Keep Rallying?

By , February 11, 2014 11:13 am

A fan of 1,000-baht billsThe Thai baht rose today together with other risky currencies, but remains in a vulnerable position due to the unresolved political crisis in the country that erodes the appeal of the currency and endangers the nation’s economy.

The baht demonstrated strength last week and continue to rally this week. The political problems, which caused the earlier slump, did not go away though and Thailand’s economical, and political environment is in disarray as the country is waiting for the official election results. Meanwhile, the opposition turned to farmers to find support in battling the current government.

USD/THB went up from 32.8050 to 32.7500 as of 13:48 GMT today, rebounding from the daily low of 32.7150.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Rallies After Elections, Rally Sustainable?

By , February 3, 2014 4:35 am

Many Thai coins on a baht noteThe Thai baht gained today as yesterday’s elections in Thailand ended without any significant violence. The currency is still in danger as political turmoil persisted, endangering the country’s economy and spoiling the investing climate.

Prime Minister Yingluck Shinawatra initiated elections in hope to quell unrest in the country. And it looks like she failed in achieving such goal. In fact, protesters prevented voting in some areas, meaning that the elections may be annulled. And this means that the rally of the baht is likely to be short-lived.

USD/THB went down from 33.0200 to 32.9400 as of 10:42 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Drops as Political Crisis Escalates

By , January 22, 2014 11:11 pm

Thai baht banknotesThe Thai baht continues to show tremendous weakness as the political crisis in the country continues to escalate, making investors to take their money away from the country.

Thailand’s Prime Minister Yingluck Shinawatra declared a 60-day state of emergency in Bangkok on January 21 to prevent violence that may derail elections scheduled for February 2. The political turmoil makes Thailand a really unattractive country to invest in. Additionally, the crisis may derail country’s economic growth by hurting the tourism sector.

USD/THB 32.9250 as of 32.970 as of 5:33 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Forex News

Thai Baht Dips as Political Crisis Unfolds

By , January 17, 2014 7:08 am

A fan of 1,000-baht billsThe Thai baht dropped today as the political crisis is unfolding in Thailand, hurting the economy of the country and driving foreign investors away from nation’s assets.

Thai Prime Minister Yingluck Shinawatra has dissolved the parliament in December and was resisting anti-government protests since then. As much as 31 protesters were injured after some device, perhaps home-made bomb, exploded. Analysts speculated that the Thai central bank will be required to lower interest rate to support the economy and such talks are additional reason to avoid the baht.

USD/THB was up from 32.7750 to 32.8450 as of 12:43 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

Earlier News About the Thai Baht:

Forex News