Results 1 to 7 of 7
  1. #1
    Thailand Expat misskit's Avatar
    Join Date
    Dec 2009
    Last Online
    @
    Location
    Chiang Mai
    Posts
    28,993

    Thailand Denies Baht Manipulation Ahead of U.S. Currency Report

    Thailand rejected claims that it engages in unfair currency practices to gain a trade advantage, even as the nation appears close to meeting U.S. criteria on exchange-rate manipulation.

    In fact, the central bank faces criticism for doing too little to curb gains in the baht, the strongest performer in Asia this year, according to Commerce Minister Apiradi Tantraporn. Countries that aim to boost overseas sales normally prefer weak currencies to make their goods cheaper.



    "I donít think manipulation is what we have been doing, what we have been practicing," Apiradi said in an interview at her office near Bangkok.


    Thailand is at risk of meeting U.S. Treasury criteria of unfair currency practices because of its near $20 billion bilateral trade surplus, a robust current-account balance and rising foreign-exchange reserves. The nation also falls under President Donald Trumpís executive order to probe countries responsible for the largest U.S. trade imbalances.


    The U.S. treasury typically releases its semiannual report on foreign-exchange policies of major trading partners in April and October.

    Apiradi said Prime Minister Prayuth Chan-Ochaís meeting with Trump in Washington this month had bolstered the relationship between the two countries.


    The trip helped to "bridge the gap" after the relationship deteriorated in the past decade, she said in the interview last week. Both nations agreed to form a new mechanism to sort out future trade issues.

    Ties cooled under President Barack Obama after former army chief Prayuth seized power in a coup in 2014. Last week, the military government said elections will be held in November 2018.


    Exports of goods and services account for about 70 percent of Thailandís economy, and the U.S. is the nationís third-largest trading partner. The baht has surged more than 8 percent against the dollar this year.


    https://www.bloomberg.com/news/artic...urrency-report



    Attached Images Attached Images

  2. #2
    R.I.P.

    Join Date
    Jul 2015
    Last Online
    02-09-2018 @ 07:55 PM
    Posts
    2,643
    Here we have a country that has had 3 or 4 rounds of currency manipulation (QE) huge debt of over $20 trillion and a trade deficit of three quarters of a billion $. The worlds biggest consumer and polluter per capita trying to bully others into conforming to standards they cant meet themselves.

  3. #3
    Thailand Expat
    buriramboy's Avatar
    Join Date
    Mar 2007
    Last Online
    Today @ 02:13 AM
    Posts
    11,884
    Is the US claiming the Thai baht is undervalued then? Might be on their own on that one.

  4. #4
    Thailand Expat
    redhaze's Avatar
    Join Date
    Nov 2008
    Last Online
    @
    Location
    Just south of Uranus
    Posts
    3,167
    They are claiming it is overvalued.

  5. #5
    Member

    Join Date
    Dec 2010
    Last Online
    25-09-2018 @ 12:55 PM
    Location
    nakorn narog นดรนรก
    Posts
    156
    Over valued, under valued, how soon do move I my retirement funds over or shouldn't I bother?

  6. #6
    Thailand Expat
    kmart's Avatar
    Join Date
    Dec 2008
    Last Online
    Today @ 10:19 AM
    Location
    Rayong.
    Posts
    10,530
    Whatever. Try maintaining a trade balance without going trillions of dollars in debt.

  7. #7
    Thailand Expat
    redhaze's Avatar
    Join Date
    Nov 2008
    Last Online
    @
    Location
    Just south of Uranus
    Posts
    3,167
    Quote Originally Posted by tdar View Post
    Over valued, under valued, how soon do move I my retirement funds over or shouldn't I bother?
    No one can tell you for sure, but I personally wouldn't be buying baht right now.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •