Showing posts with label Thai Bath. Show all posts
Showing posts with label Thai Bath. Show all posts
Avarum Appadithan
Thai Baht Declines on Political and Civil Crisis
The Thai baht continued its decline against the U.S. dollar today and touched its lowest level in the last 21 months as the political protests and the civil unrest raged through the country.The political turmoil in the country is caused by the demands of the opposition and the military leaders for the current Prime Minister Somchai Wongsawat to resign. He still rejects these demands despite the fact that the opposition has already captured the two country’s most important airports.
Analysts don’t see anything positive for the baht for as long as the situation in the country remains at such a dangerous level. And there are no signs that it will end soon, causing the baht to depreciate further.
The Thailand’s baht falls under the double pressure — the currencies of the Asian region fall because of the recession in the developed countries and the foreign capital outflow and also because of the current political crisis, which doesn’t add optimism to the investors and the currency traders.
USD/THB rose from 35.26 to 35.32 as of 10:00 GMT today after reaching as high as 35.51 during the early trading session — a level not seen since February 2007.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
Thai Baht Rises, but Remains Under Pressure
The Thai baht rose today after it previously fell as the political turmoil drove away the investors and prompted them to take away the fund from the nation’s equities.The foreign investors took away $1.88 billion from the nation’s stocks since March, following the $1.31 billion net purchases in the first three months of 2010. The analysts say that the baht would remain under pressure as the stocks falls and the concerns for China’s growth increase the risk aversion sentiment.
USD/THB traded near 32.25 as of 12:55 GMT today down from the opening price of 32.40.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
Thai Baht Rises on Outlook for Growth of Asian Economies
The Thai baht went up today on the speculation that the fast growth of the Asian nations would attract more investors to the region, increasing the appeal of the Asian currencies.The central banks of some Asian nations, including Thailand, raised the interest rates this year, making their currencies higher yielding than the currencies of the Group of the Seven Nations. The International Monetary Fund predicted that the Asian developing economies would grow 9.2 percent this year, compared to the 2.6 percent growth in the industrialized nations.
USD/THB traded near 31.63 today as of 8:16 GMT after opening at 31.75.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
Thai Baht Gains on Capital Inflows & Central Bank’s Statement
The Thai baht gained today as the outlook for the economic growth in Asia increased the inflows of the global funds in the region and after the central bank suggested that it wouldn’t limit the currency’s appreciation.Thailand’s central bank said that it’s “not concerned” with the baht’s gains as long as the baht moves in line with other Asian currencies. The Asian developing economies expected to expand 9.2 percent this year, attracting more and more investors to the region.
USD/THB fell from 31.55 to 31.49 today as of 8:27 GMT, following the advance to 31.65.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
Thai Baht Demonstrates Best Performance Since February 2008
The Thai baht strengthened today, showing this month the best performance since February 2008, after the central bank raised the borrowing costs and as the pace of the nation’s economic growth was the fastest in 15 years.The Bank of Thailand raised the borrowing costs last week for the second time this year. The policy makers suggested that the rates remain “very low compared to the economic growth even after the increase”. The nation’s gross domestic product grew 9.1 percent in the second quarter of this year, following the increase by 12 percent in the previous three months. The good fundamentals attracted more foreign investors to Thailand, resulting in the inflows into the stocks and the bonds and making another rates hike possible.
USD/THB currency pair went down from 31.15 to 31.32 today as of 9:03 GMT after it touched 31.47.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
Thai Baht Gains as Economy Grows
The Thai baht gained today on the speculation that the policy makers won’t prevent the appreciation of the currency as the economic growth increases the inflation pressure.The report today showed that Thailand’s economy expanded in 2010 with the fastest pace since 1995. The fast economic growth of the Asian countries causes the imbalances in the global economy and the Asian governments may allow their currencies to appreciate and reduce the import gains.
USD/THB fell from 30.5750 to 30.5450 as of 14:53 GMT today.
If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.
