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  • Today, April 22nd the Thai baht is being exchanged at 31.93 to every 1 US dollar.

    • Weakening baht bolsters Thai exports in March



    TPSO expects exports in the first quarter of this year to not contract as shipments from the country in January and March were high.



    The official added that exports in March this year had entered positive territory due to the weakening of the baht, when compared to the same period last year, which showed a contraction of 5.04 per cent.



    Separately, Somdet Susomboon, director-general of the Department of International Trade Promotion (DITP), said the department was planning to use digital content and online systems to boost export growth, especially in the wake of the Covid-19 pandemic.







    He added that discussions with manufacturers of frozen and processed chicken, such as Charoen Pokphand Foods, Betagro, and Thai Broiler Processing Exporters Association will be held on Wednesday.





    He added that the ministry will hold a discussion with e-commerce businesses operating both locally and overseas on April 27 about allowing farmers, small- and medium-sized enterprises, manufacturers and exporters to sell products online.: https://www.nationthailand.com/news/...ernal_referral

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    • Today April 24th 2020 the Thai baht is being exchanged at 31.95 baht to every 1 US dollar.


      Bank of Thailand should keep baht competitive for trade: Somkid

      The Bank of Thailand should ensure the baht is competitive and has a trade advantage as the coronavirus pandemic hits the economy, Deputy Prime Minister Somkid Jatusripitak said on Wednesday.

      The economy, which is heavily reliant on exports and tourism, could lose more than a trillion baht and up to 10 million jobs.

      While overall exports are weak, demand for food shipments has sharply increased and there is a need to ensure the export sector is able to compete, particularly with rival Vietnam and Malaysia, Mr Somkid told reporters.

      "On the currency, I've asked the central bank to ensure it is competitive and has a trade advantage, he said, adding every country was competing for exports.

      The baht traded at 32.46 per US dollar at 2.13pm, hovering near three-week highs. But it has weakened by 7.9% against the greenback so far this year.: https://www.bangkokpost.com/business...r-trade-somkid

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      • Yesterday, April 27th 2020 the Thai baht was being exchanged at 32.03 baht to every 1 US dollar

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        • Today, April 29th 2020 the Thai baht is being exchanged at 31.94 baht to every 1 US dollar.

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            • Today May 5th 2020 the Thai baht is being exchanged for 31.90 baht to every 1 US dollar.

            • Stronger baht may not be sustainable, central bank warns


            The recent strengthening of the baht against the dollar may not be sustainable, the central bank warned, though an analyst said he is cautious about the prospects of a weaker baht for the year and that it may actually be relatively strong towards the end of the year.

            The baht, along with other regional currencies, has risen against the greenback now that there are signs of the novel coronavirus being contained, said Don Nakornthab, senior director at the Bank of Thailand.

            The baht and other regional currencies were hit hard in March due to a fast-rising number of confirmed Covid-19 cases. The Thai currency weakened to about Bt33 against the dollar in March, but moved into the Bt32 range in recent weeks.

            However, Don said the baht is still under pressure due to a sharp drop in the current account surplus resulting from a contraction in exports and a dwindling number of foreign arrivals.

            The current account surplus in March dropped sharply to $700 million compared to surplus of $5.4 billion in February, he said, adding that the surplus may fall to zero if the pandemic lingers. He also pointed out that capital has been flowing out of Thailand in March largely due to foreign investors continuing to sell both equities and Thai government bonds, resulting in a capital and financial account deficit of $3.1 billion compared to a deficit of $4.4 billion a month earlier.

            Tourism is usually the largest source of current account surplus, which was worth $37.9 billion last year with 39.7 million arrivals generating hard currency income for Thailand.

            However, the number of tourists dropped 76.4 percent in March and is expected to drop down to 99 percent in April, Don added. Though governments across the world have started easing some lockdown measures, passenger transport is still limited, while Thailand has also extended the ban on incoming flights until the end of May.

            The baht has also been less volatile in recent days as investors have seen indications that Thailand may have been successful in combating the outbreak, he said, citing the fact that new confirmed cases have been down to a single digit for four days in a row.



            https://www.nationthailand.com/busin...ernal_referral
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              • Today May 11th 2020 the Thai baht is being exchanged at 31.71 baht to every 1 US dollar.

              • little more than a month to go for a Full year


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              • Today May 15th 2020 the Thai baht is being exchanged at 31.60 baht to every 1 US dollar

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                • Today May 18th 2020 the Thai baht is being exchanged at 31.58 baht to every 1 US dollar.


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                    • Today May 20th 2020 the Thai baht is being exchanged at 31.40 baht to every 1 US dollar.

                    • Baht is Asia’s top outperformer on tourism rebound bet

                    After lagging other Asian currencies for most of the year, Thailand’s baht has staged a sharp rebound to outperform its peers.

                    The baht has rallied almost 1.5% in May after dropping over 7% in the first four months of 2020. The catalyst? Traders are betting Thailand’s tourism-dependent economy will recover swiftly from the virus-induced slump as economies begin to reopen.

                    “The sooner availability of a vaccine will mean a quicker recovery in industries such as retail and tourism, and as such currencies relying more on these sectors may respond more,” said Frances Cheung, Singapore-based head of Asia macro strategy at Westpac Banking Corp.

                    Yanxi Tan, a foreign exchange strategist at Malayan Banking Bhd. expects the baht to rise to 31.7 per dollar by year-end as the pandemic dissipates. The currency rallied as much as 0.5% to 31.872 per dollar on Tuesday, with sentiment bolstered by signs of progress in developing a vaccine against the virus.

                    Still, the baht’s rebound may be curtailed after the government warned the economy could contract as much as 6% this year due to the outbreak. The Bank of Thailand is expected to lower the policy rate by 25 basis points to 0.50% at a review Wednesday, according to a Bloomberg survey.

                    Analysts say a relaxation of curbs will boost confidence. Thailand has allowed shopping malls to resume business as part of a phased rollback of its lockdown, even as it remains in a state of emergency through May.

                    “Thailand has done well to contain the coronavirus outbreak, with the country gradually reopening businesses and easing restrictions,” says Chang Wei Liang, a macro strategist at DBS Bank in Singapore. “This has given investors confidence that tourism could recover over time, in turn supporting the baht.”: https://www.bangkokpost.com/business...d-bet#cxrecs_s

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