Thai currency strongest in Asean

Published: 17 Jan 2013 at 16.41
Online news: News

The baht hit its strongest level in 16 months after it was traded at less than 30 per US dollar, the Export-Import Bank of Thailand said on Thursday.

File photo

The Thai currency strengthened to almost 29.70 baht to the dollar, an increase of 2.8% since the beginning of this year. The baht is now the strongest currency in the Association of Southeast Asian Nations (Asean), followed by Malaysia’s ringgit, the Exim Bank said.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Forum

Your comments

brilliant
Post : 1,566
Send message

Discussion 4 : 18 Jan 2013 at 04.164
Post this to my Facebook
Another 1997 on the way? Who manipulating the baht now?
Like dislike 6 people liked / 1 people disliked this comment
boons
Post : 696
Send message

Discussion 3 : 18 Jan 2013 at 02.063
Post this to my Facebook
Now PT has a real mess on their hands. It's bad enough that exports are getting crushed by the high baht - but their poorly timed minimum wage hike is now going to absolutely destroy the margins of thousands of companies throughout Thailand. Oops. Margin compression is the thing you typically get right before an equity market crash.

Of course, since this administration has a childlike understanding of economics, I fully expect them to opt for "stimulus" and banking deregulation as a means to keep markets alive. And that, my friends will be the beginning of the long dark night.
Like dislike 5 people liked / 3 people disliked this comment
cinbkk
Post : 206
Send message

Discussion 2 : 17 Jan 2013 at 22.272
Post this to my Facebook
This will make Thai rice even more expensive... way to go!
Like dislike 7 people liked / 2 people disliked this comment
facts_only
Post : 564
Send message

Discussion 1 : 17 Jan 2013 at 22.201
Post this to my Facebook
In the last 12 months, the lowest baht to US dollar value was at ~31.8 (6 months ago), while the highest was today at ~29.8.

Low currency value benefits exporters, while high value benefits importers.
Like dislike 6 people liked / 6 people disliked this comment

Thai currency strongest in Asean | Bangkok Post: business