US Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator Thailand’s trade surplus with the US has now exceeded US$20 billion. Bloomberg reports that this could trigger the Thai currency to be added to the US Treasury’s watchlist of “currency manipulators”. According to US Census Bureau data, the surplus reached US$20.05 billion in…
Thailand prepares for cryptocurrency challenges Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years. The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including…
Thailand’s soaring baht reaches six-year high In early 2019, the BOT did not seem concerned about the Thai baht’s appreciation, as a strong currency can actually benefit Thai importers and those who have foreign currency debts The Thai baht has been the best performing currency in emerging Asia since 2018. On a year-on-year basis, it…
Thai central bank steps in to curb baht price’s surge The baht has risen about 5.6 percent against the US dollar this year, becoming Asia’s best performing currency, putting more pressure on Thailand’s export-driven economy at a time when global demand is cooling The Bank of Thailand is taking measures to control short-term capital inflows,…
Thai economy faces heightened political uncertainties: central bank minutes BANGKOK (Reuters) – Heightened political uncertainties in Thailand after an election meant to herald a return to democracy have clouded the outlook for economic policy, the central bank said in minutes of a meeting earlier this month that left interest rates unchanged. No clear winner emerged…
Thai central bank says it has not manipulated currency THAILAND’S central bank has not intervened in the trading of the baht to gain a trade advantage with the United States, an assistant governor said on Monday, amid speculation that Washington may soon add the country to a currency watch list. “Thailand has some trade surplus…
Thailand’s biggest debt trap is not Chinese Thai household debt ratio at 78.6 percent is among the top three countries with the highest household debt in Asia. The so called “Chinese debt trap” has drawn a lot of commenting in the media, but Thailand’s biggest debt trap is still home-grown and has reached the value…
Thai banks face tough competition in digital world Although the Thai commercial banks achieved higher net profits in the first quarter of 2019, they expect a tough year ahead amid aggressive competition in the digital era. The Thai government’s plan to turn Thailand into a cashless society has prompted local banks to remodel their business…
Thai Banks to tax savings interest above 20,000 baht BANGKOK, 23 April 2019 (NNT) – The Thai Bankers Association has held a meeting to find a solution to the savings interest tax and to provide maximum convenience to bank customers who might be obliged to divulge their savings account activity to the Revenue Department so…
Improved FY19 earnings seen for CIMB Thai Bank Upgrade to outperform with an unchanged target price (TP) of RM6.10. CIMB Thai Bank Pcl’s three months of financial year 2019 (3MFY19) earnings exceeded our expectations accounting for 41% of our full-year estimates, attributed to lower-than-expected impairment allowances. Asset quality improved in tandem with the lower impairments. We…