Baht loss biggest of 2012 | Bangkok Post: breakingnews

Baht loss biggest of 2012

Published: 25 May 2012 at 18.02
Online news:

The baht had its biggest weekly drop in 2012 as foreign funds reduced holdings of local stocks amid concern that Europe's debt crisis will slow global economic growth.

The currency fell for a fourth week as global investors sold nearly 7.3 billion baht more worth of local stocks than they bought in the past five days, data from the Stock Exchange of Thailand showed.The SET Index finished the week down 1.9% from the previous Friday, its third successive weekly decline."Investors are risk-averse and stock markets and Asian currencies can still test the weaker side,” said Nalin Chutchotitham, an analyst at Kasikornbank."Importers may be buying the...

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zulu
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Discussion 4 : 30 May 2012 at 14.114
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the baht is dropping, but the euro is dropping faster! :(
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khunbill
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Discussion 3 : 26 May 2012 at 10.253
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Keep dropping baht. I want to come back to Thailand.
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bkposter
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Discussion 2 : 26 May 2012 at 09.122
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RE: D1 I agree, and a strong baht is the worst thing that Thailand could have at the moment considering the economic conditions in the rest of the world. If the government wants exports then it should continue to let it drop. China has done just that for years and years to propel their economy. If the rate went to 40=1USD then the government has effectively lowered the price by 30% on all exports and increased the price on all imports.
The problem comes when it becomes applicable to things like oil, chemicals, Drugs, high tech, component parts, and the like that cannot be produced locally. There are more things than you realize that are not made locally. At that point it starts to hurt as much as it helps.
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casuist
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Discussion 1 : 26 May 2012 at 00.161
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That is a move in the right direction. The baht has been too high with an adverse effect on foreign trade. I expect it to fall further, which will ultimately be to the advantage of Thailand' trading.
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