Thai currency strongest in Asean

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Thai currency strongest in Asean

Published: 17 Jan 2013 at 16.41
Online news: Local 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.

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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.

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brilliant
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Discussion 4 : 18 Jan 2013 at 04.164
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Another 1997 on the way? Who manipulating the baht now?
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boons
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Discussion 3 : 18 Jan 2013 at 02.063
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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.
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cinbkk
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Discussion 2 : 17 Jan 2013 at 22.272
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This will make Thai rice even more expensive... way to go!
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facts_only
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Discussion 1 : 17 Jan 2013 at 22.201
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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.
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Thai currency strongest in Asean | Bangkok Post: news